No cash from Prosser, only accusations

As if it didn’t have enough to worry about, the Government of Belize is once again under assault over its handling of the telecommunications industry. To the surprise of absolutely no one, Jeffrey Prosser’s Innovative Communications Corporation has failed to meet the deadline to come up with the fifty-seven million U.S. dollars it still owes the Government of Belize for the shares it purchased in Belize Telecommunications Limited. This leaves GOB on the hook to the International Bank of Miami for that same amount, that it borrowed to buy the shares from Michael Ashcroft’s Carlisle Holdings in the first place. Why has Prosser come up short? According to a letter from Prosser to the Prime Minister, it’s because the Musa administration failed to keep its word regarding promised concessions and legislation that were conditions of the sale. Prosser also claims that Belmopan interfered with his efforts to secure financing from the Trinidadian Bank RBTT and–get ready for this–“is contemplating, engaging, or has already engaged Carlisle Holdings Ltd. and its affiliates in discussions concerning the BTL shares.” Government now finds itself firmly stuck between the competing interests of two powerful cutthroat businessmen and a bank that wants its fifty-seven million. Neither Prosser nor GOB would respond to New 5’s request for comment but it is understood that negotiations are being quietly conducted to reach an amicable settlement. Failing that, Prosser has requested the appointment of a Mediator by March fifth.