Senate committee begins SSB probe

The Special Senate Select Committee appointed to inquire into the management and investment portfolio of the Social Security Board met this week to begin an initial review of documents the Committee requested from the SSB. Included among these were records of board meetings, audits and annual reports, board meeting procedures and regulations, a list of all loans, including those to the government of Belize showing terms and conditions, security and collateral on the loans and payments made. As well as current status of the loans, a list of all investments made by the SSB and all guarantees. According to a release from the Press Office, after a preliminary review of the loans and investment portfolio, Senate Committee, under the Chairmanship of Senator Godwin Hulse, is asking the board for additional information and details of securities provided to guarantee the loans approved and disbursed. They will also be instructing the Investment Committee to immediately cease approving any further loans. The release continues that the date and time of the first public meeting of the Senate Select Committee will be announced to the general public as soon as “practicable.” Besides Senator Hulse, other members include Senator Dickie Bradley, Senator Moises Chan representing the Churches, and Senator Rene Gomez, representing the Trade Unions and NGO’s.