Government’s procrastination in settling the claim, according to Senior Counsel Eamon Courtenay, has resulted in an exorbitant amount of interest to be paid outside of the principal cost of acquiring B.T.L. As we said the price per share is in the range of five dollars and sixty cents but the interest puts the total figure […]
As we reported earlier, government will have to pay more than two hundred million dollars to Dunkeld in an arbitration award for the expropriation of Telemedia. That information came out before a final decision is issued. But today, Belize Telemedia Limited held an unusual press brief prior to their Annual General Meeting. Telemedia is claiming […]
The National Agriculture and Trade Show took place over the weekend at the show grounds in Belmopan. The annual event drew thousands looking for deals in goods and services. This year, the traditional was offered complemented by a mix of new products in a wide range of items such as chocolates, jams, sauces, beauty products […]
While a crisis of military proportions has been averted in the days following the death of thirteen-year-old Julio Alvarado Ruano, there is still a level of unease between Belize and Guatemala as it pertains to diplomatic relations. One area of concern that is seemingly overlooked is the trade relation between the neighboring countries. There has […]
The Belize Territorial Volunteers has received its share of flak from government for purportedly aggravating the Guatemalan Armed Forces at the Sarstoon. While they have been criticized as troublemakers, the BTV is also being credited for bringing the Sarstoon debacle to light. According to Tux Vasquez, if it were not for the many unwelcome trips […]
The Central America Regional Security Initiative, very affectionately known as CARSI. We say affectionately because since 2008 Belize has received over thirty-five million in programs and grants. In fiscal year 2015 alone, six point four million dollars U.S. were made available to Belize through the International Narcotics and Law Enforcement Office. And there’s more good […]
Ambassador Moreno explained that there are very specific allocations for the funding, but all of it is geared to improving a justice system which has shown some wear and tear, diplomatically speaking. Carlos Moreno, United States Ambassador “We had a class of about twenty to twenty-five Police officers trained by a special group of […]
The inauguration of the cruise port in Southern Belize is scheduled for November seventeenth 2016. The launch of the Norwegian Cruise Line’s project has been delayed somewhat but according to NCL will be increased employment opportunities. News Five Isani Cayetano reports. Isani Cayetano, Reporting Harvest Caye, the only cruise port in southern Belize, will […]
The idea of introducing cruise tourism to southern Belize was initially met with objection from various communities, primarily from residents of Placencia, as it relates to the Harvest Caye development. Since then there has been a shift in attitude towards the project. More people, including small business owners, tour guides and artisans are embracing the […]
Earlier in this block we told you about the extremely generous donations to Belize through CARSI, a US initiative aimed ultimately at strengthening regional security. But the happy – happy, joy – joy feelings were offset somewhat by the presence of the ten thousand pound gorilla in the room – a little thing called derisking. […]
The Ministry of Economic Development launched its National Growth and Sustainable Strategy earlier today, a few hours ahead of a new report by the World Bank Group which looks at opportunities and restrictions against the backdrop of the local economy. The study begins with an overview of the investment climate. Since 2004, the gross domestic […]
While tourism and agriculture have both been identified as key pillars of Belize’s economy, there is a certain nervousness when it comes to the impact of both sectors on the environment. From a business perspective, the financial sector has also been categorized as uncompromising, since it is rather difficult to access startup funding to establish […]
On a positive note where it concerns the education system, the completion rate at the primary level is significantly higher in Belize than anywhere else in Latin America. While that bodes well for children entering the education system, the same cannot be said for high school students since the dropout rate is much higher, leaving […]
Indicators of the performance of the economy for the last three months of 2015 and the first three months of 2016 were released today by the Statistical Institute of Belize. It shows that while there was increased economic activity over the same period last year. But as it relates to this year, imports are down […]
The budget for fiscal year 2016/2017 was discussed at length by the Senate this morning, succeeding a two-day heated debate in the House of Representatives a week ago. Dubbed “Stability in a Time of Change,” G.D.P. growth is forecast at one point five percent with a deficit that expanded to five percent. While the proposed […]
The Opposition, for its part, describes the budget as both uninspiring and insipid and therefore the party cannot lend its support to the budget that has ballooned into a massive deficit. Led by Senator Eamon Courtenay, the People’s United Party proceeded to pick holes in the budget, particularly criticizing government’s failure to consult with its […]
With government and opposition senators weighing in on the budget in detail, one complimenting the financial plan and the other altogether condemning it, what is the union’s outlook for the year ahead? The wage bill for teachers and public officers will balloon to four hundred million, but the lack of consultations in crafting the budget […]
During today’s lengthy Senate debate, the church also had its say on the pros and cons of the annual budget. While Senator Ashley Rocke did not altogether pan the 2016/2017 budget, he did note that allotment for the churches has been discontinued. Instead, government has opted to contribute charitable funding to what are being described […]
The domestic cost of fuel went up again earlier this week with the cost per gallon of regular inching closer toward the nine dollar cap. While the cost per gallon of diesel has increased to seven dollars and seventy-one cents, a difference of twenty-one cents since it last went up in December. The good news […]
And then to the budget for the fiscal year 2016/2017! Starting with the leader of the Opposition, members on that side of the gallery claimed that based on all relevant statistics, the economy was in a recession, and the so-called stability budget was only a rhetorical farce. Prime Minister Barrow lashed back, accusing the Opposition […]
Representative for Caribbean Shores Kareem Musa had one of the longest and one of the most passionate presentations of day-two of the budget debate. In his first budget presentation, Musa turned his attention on the legal fees contained in this document, and budgets past, claiming that tens of millions have gone to three select lawyers […]
Musa also turned up the heat on Belize Telemedia Limited, nationalized by the government in 2009. While the government touts this acquisition in consecutive budgets as one of the stellar achievements of its time, Musa claimed in his presentation that perhaps the company should be renamed BPL, or Barrow Pinata Limited. Kareem Musa, Area […]
During the first day of the budget debate, which broke Tuesday evening at around six o’clock, Opposition members in the gallery condemned the budget as pure rhetoric, and claimed that it is a not so clever attempt to mask the fact that Belize is in the midst of a recession. One of the last to […]
According to Fonseca, while our debt continues to grow, the economy is stagnant, and that is a recipe for disaster. He toed the Opposition line and assertion that whether it is a matter of public knowledge or not, the country is in recession. Francis Fonseca, Area Representative, Freetown “Debt is manageable in the context […]
Julius Espat, Area Representative of Cayo South and Chairman of the Public Accounts Committee, joined his colleagues in rejecting the budget presented by the Prime Minister. His focus was on supplementary appropriations. He explained that the figures in the budget presented by the Prime Minister means nothing in real terms. Julius Espat, Area Representative, […]
