Government looks to Social Security for U.H.S. bailout

There’s a segment on CNN News called “what were they thinking” and if we had that feature on this newscast that’s precisely where today’s announcement by the Social Security Board would be. According to a Board press release, they have “Received a proposal for an investment opportunity with the Universal Health Service.” We understand that this investment opportunity is an offer by the Government of Belize to sell Universal Health Services Limited, the private hospital for whom the Prime Minister signed a thirty-three million dollar loan guarantee. U.H.S. defaulted on the debt and G.O.B. is long overdue in coming up with the cash for the Belize Bank. Belmopan has been trying to convince the public that negotiations were nearing completion with a private group to purchase the facility and get government off the hook, but it appears that someone was selling dreams … dreams that Social Security is now being asked to buy. The S.S.B. release says they hired an independent consultant to do a feasibility study and the Board promises to keep the public informed. Those board members are Michel Chebat, Chairman; Elena Smith, Deputy Chair; Mel Auil Jr., Anselm Gillett Jr., Ricardo Castillo, Hilly Martinez, Margaret Nunez, Mark Lizarraga, and Dylan Reneau.

In the meantime, the lawsuit against government by the Association of Concerned Belizeans is expected to be heard early in the new year before Justice Minnet Hafiz. The A.C.B. contends that the loan note and settlement deed signed following the original guarantee were illegal acts and therefore invalid, thus prohibiting government from paying Belize Bank the money.