Press conference ranges far & wide
While the Caribbean Court of Justice was at the top of the Prime Minister’s agenda this morning, today’s press conference ranged far and wide. Here are some excerpts of the main questions and answers.
Has the bond issue failed?
Prime Minister, Said Musa
“Because of the volatility in the financial markets, particularly with the emerging markets, we have been advised by the underwriters, Deutsche Bank and Morgan Stanley, that the timing was not the right one to proceed with the launch of the bond. The bond has not failed; the government is seeking to ensure that we get the best terms for the bond issue and we will choose the appropriate time for the launch of the bond, when we believe we can get the best terms possible.”
How did D.F.C. go bankrupt?
Said Musa
“I don’t concede first of all that the D.F.C. is bankrupt. Yes, the D.F.C. is facing a serious cash flow, financial problem, but it has assets; all we need to do is to spend off some of these assets. We may have to take some of it as a lost, but I believe that we will be able to recover sufficient amount in cash if you like, from the sale of some of these assets to ensure the viability of the D.F.C.”
The future of Caracol?
Said Musa
“There are two issues involved here and they are really simple. But some people for obvious political manipulation and distortion have sought to confuse them. One is: Is the Government prepared to sell or lease any of its Mayan Sites to a private entity to so call privatize a Mayan site, whether it be Caracol or any other Mayan Site? And the answer is a categorical no. We have not even contemplated that. The second issue is: down the road in terms of development, tourism development, whether the government would entertain a proposal for a resort development to take place in the vicinity near to a Mayan site, where the tourist would want to go where they may want overnight for instance that happens in other sites like Tikal in Guatemala, Chichinitza in Mexico and so on. And of course is prepared to entertain proposals for resort development to complement attraction of these sites. Obviously we have received various proposals over the years, over the months and the particular one that was being mentioned is only one such proposal. The Government took a decision to carry out a master plan because these proposals keep coming up, to ensure that we plan, have planned development of resort development in the vicinity of any attraction; whether it be a cave, whether it be a Mayan Site or whether it be just be an environmental attractive area and that is what we are carrying out now.”
Is the redistricting plan constitutional?
Said Musa
“First of all, I don’t believe that whatever the process or rather the procedure that or the way the task force went about its work in seeking to redistrict the proposals that they base their things on, the principles that they applied was based in order to satisfy either Mr Barrow or myself. Because if it means a reduction in a seat well, we just have to face that and decide within our respective parties how we handle that. I believe what in their minds was that, this having ten constituencies in Belize City is the fastest growing area of the country and to reduce it, might down the road might create new problems. So they came up with a formula in which they allow for, I think fifteen percent, of discrepancy within the district. And there are many who believe that, that will be in compliance with the constitution and the law. I believe that your point is an arguable point if the matter were to go to court, but from what I’ve been advised legally and constitutionally the formula that is being proposed can stand up.”
Public officer salary increases?
Said Musa
“The I.M.F. has been fighting us about this salary increase for public officers, teachers, police and nurses and so on. I have made it absolutely clear to them that there is no way that I would go back on that commitment that have given on public officers and teachers. So, we will keep our commitment. We have kept it in the first year, we have kept it this year despite the financial constraints and we intend to keep it next year to complete our commitment.”
Other areas covered by the Prime Minister included acknowledgement that Mexico’s ADO Bus line may be interested in purchasing Novelos and that Intelco was in discussions with Ireland’s Digicel as well as B.T.L. as possible buyers or partners. Musa also predicted that the dispute with Royal Caribbean over its exclusive Tourism village contract would soon be settled. He also defended Belize’s position in support of the Palestinians at the International Court of Justice at the Hague, saying that the principles at stake, namely the act of one country unilaterally seizing territory from another, were highly relevant to our own situation with Guatemala.
