Port of Belize not indebted to Belize Bank

Lyndon Guiseppi

For weeks, there has been widespread speculation that the Belize Bank would be moving in to take over the Port of Belize, owned by businessman, Luke Espat. The reports have been greatly detailed, from heated encounters to the naming of a receiver. While on another assignment today, News Five put the question of whether a takeover is in the works, to the Belize Bank Executive Chairman, Lyndon Guiseppi. He dismissed all the reports, saying the bank has no business with the Port of Belize.

Lyndon Guiseppi, Executive Chairman, Belize Bank

“There’s no attempt on the bank’s part to take over the Port. In fact, the bank is not a lender with the Port; the Port is not a borrower with the bank. So that is speculation, but it is a little more than speculation. It is in fact, incorrect to suggest that the bank is trying to take over the port. The Belize Bank has no loans to the Port of Belize.”