Leader of Opposition Finds Fault with G.O.B. Settlement, Blames P.M.’s Arrogance

Francis Fonseca

Those figures aren’t sitting well with the Opposition People’s United Party, which doesn’t share G.O.B.’s triumphal touting of the settlement with the Ashcroft Group. Fonseca says that the only reason taxpayers will have to bear this multi-million dollar load is because of the PM’s pettiness and arrogance.

Francis Fonseca, Opposition Leader

“One is, as you know, the settlement in full of the permanent port of arbitration award; that’s the British Caribbean Bank and the Government of Belize, which amounts to some ninety-seven million dollars. Really Mister Speaker, the scandal here is that we are paying sixteen percent interest over six years. This ninety-seven million let’s be clear….the original loan was twenty-two point five million U.S., which is forty-five million Belize dollars with interest of sixteen percent over six years…that is now amounted to ninety-seven million Belize dollars. Gone from forty-five million dollars to ninety-seven million Belize dollars all because of one man’s stubborn pettiness; that is what we have here. The prime minister knew fully well, Mister Speaker, that compulsorily acquiring the bank’s rights under the loan it had concluded with Telemedia was absolutely unlawful and illegal. He knew it at the time…he knew it. But because he was advancing this personal, petty agenda, we went ahead and did it in any case and now the Belizean people must pay fifty-two million dollars, fifty-two million dollars for that stubborn pettiness…fifty-two million dollars.”