Just before six o’clock this evening the government announced that public officers and teachers will receive an eight percent salary increase. The package according to the government release represents about thirty-eight million; it is effective in the July paycheck and retroactive to beginning of the financial year on April first, 2015. The government also says […]
The use of Petrocaribe funds remains a controversial issue. Sunday’s jaunt to Corozal Bay, organized by Collet Area Representative Patrick Faber, using Petrocaribe monies to pay for twenty-one buses to transport dozens of constituents to the north for a daylong outing, is coming under fire. Faber’s supporters gorged on tacos and pibil, drank heartily and […]
Likewise, Lizarraga shared the private sector organization’s position on the proposed amendments to the Petrocaribe Loans Act. Senator Mark Lizarraga, Representative, Private Sector “The chamber of commerce met, the executive of the chamber of commerce had several meetings with its attorneys and consulted when the proposed amendments came out and basically what they are […]
Diminished petroleum revenues and increased public spending is expected to result in only limited fiscal strengthening in Belize in the months ahead, despite rising non-oil government inflows. Consequently, the country’s debt dynamics will remain unstable, with a looming threat that Belize will struggle to access capital markets or even face a credit crisis. The foreboding […]
The Belize City Council today held a press conference at City Hall today to basically give a report card on where the country currently stands in respect of CARILED funded six-year program to promote local economic development. It is really about changing the way that local government works with the business community. It’s been three […]
Belize, according to a recent CDB survey, is nationally ranked at one hundred and nineteen when it comes to the ease of doing business. The barriers of doing business easily are said to be cultural and institutional. But the culture of an organization cannot be changed overnight and Mayor Darrell Bradley gave an example with […]
Were Petrocaribe monies used to fund salaries for government employees, and in secret? Well that’s the assertion which rang out on the airwaves this morning. According to documents leaked from the Central Bank – a statement for an account entitled GOB Proceeds Petrocaribe Financing – that’s exactly what happened. A line item on the statement […]
On the opposition side, P.U.P. Deputy Leader and Chairman of the Public Accounts Committee, Julius Espat, is suing the government over the Petrocaribe Loans Act; this afternoon he chimed in on the latest development involving the use of the funds which are purportedly being used to pay salaries. He sat down with the media to […]
E arlier this evening, Espat consulted with his legal advisors after reading the release issued by government clarifying the uses of Petrocaribe financing. This is in light of a lawsuit brought against the prime minister regarding the usage of the monies. According to Espat, the Finance and Audit Reform Act is explicit in language, stating […]
The Statistical Institute of Belize released the latest figures for the GDP, external trade and consumer price index. The first quarter records a growth of seven percent that is due largely to agriculture, manufacturing and some cruise tourism. The SIB says that while there was a decrease in sugar delivery, there was an increase in […]
On Monday two men were detained by Police on suspicion of burning canefields owned by ASR in the San Lorenzo area of Orange Walk Town. The detention is politically charged, since one of those men, Efrain Alpuche Jr., is closely linked to PUP politician Ramon Cervantes Jr. It is believed that there is evidence which […]
As we said, the situation is politically charged because of the personalities involved, and also because when Alpuche Junior was detained he was driving a vehicle which belongs to Cervantes. Today Cervantes claimed that his political opponents are trying to tie him to the matter, while he maintains that he condemns in no uncertain terms […]
There is word of an apparent resolution to unrest in the sugar industry which had the potential to blow up into full-scale protest. Because of the lateness of an announcement after a meeting of the Sugar Industry Control Board on Monday evening, we were able to provide only the highlights, but tonight Mike Rudon probes […]
he Belize Chamber of Commerce is the latest organization to come out against the PetroCaribe Loans Act which was passed in the house after a relatively short debate. While that controversial piece of legislation is described as the direct opposite of what was achieved with the passage of the Finance and Audit Reform Act in […]
Despite the Prime Minister’s recent announcement that amendments to the law will be tabled at the next House meeting, Vasquez says that there are certain aspects which remain unaddressed. Those areas, according to Vasquez, seek to do away with the power of the Finance and Audit Reform Act. By the same token, when asked if […]
While the chamber, as a social partner, may not be joining the PUP to seek a repeal of the PetroCaribe Loans Act, it is in receipt of a letter from the party suggesting an alternative to the contentious law. Arturo Vasquez “The other position I think the Opposition has taken and we have received […]
BNTU President Luke Palacio, in an interview with the media last week, said the prime minister attempted to mislead the nation when he stated that teachers and public servants were also beneficiaries of the Petrocaribe rollout. While Palacio’s comment was made in the context of the much talked about salary adjustment, P.M. Barrow, during a […]
In financial news…the Development Finance Corporation in collaboration with the Caribbean Development Bank today launched the corporation’s seventh consolidated line of credit. Under the new agreement, the CDB will be providing twenty-one million dollars directly to the institution. According to the Chief of the Social Sector Division of the Bank, Deidre Clarendon, the loan was […]
In 2007, the Government of Belize liquidated the DFC as a result of a policy based loan made by the Inter-American Development Bank. As a result, the Caribbean Development Bank conducted a study to determine the availability of finance for priority sectors in the country. According to the Assistant General Manager of Lending Operations at […]
But back in the city…When the Public Utilities Commission announced a week ago that electricity rates would be reduced from forty-one cents per kilowatt hour to thirty-five cents, consumers breathed a collective sigh of relief. The reduction comes into effect on July first and is applicable until June thirtieth, 2016. While a difference of six […]
Today at the Jaguar Auditorium of the University of Belize, Belmopan Campus, the Statistical Institute of Belize and the International Labour Organization officially launched the findings and final report of a 2013 National Child Activity Survey. Interesting findings came out of the survey. Corozal has the highest employment rate for children, and the larger the […]
A regional project inclusive of CARICOM member states seeks to strengthen fisheries food safety regulations. The purpose is for the Caribbean to be able to access the international markets for fishery products such as conch, fish, lobster and shrimp. Along with the Belize Agricultural Health Authority and the Fisheries Department, the Caribbean Regional Fisheries Mechanism […]
Thousands of Belizeans annually converge on Belmopan for the national agricultural and trade show, which was held over the weekend in the Old Capital. The three-day show celebrates agriculture, but over the years, the fair has also become a major event to spur economic activity for the private sector. This year, organizers improved the facilities […]
There is some good news for consumers because beginning July first, 2015 to June thirtieth 2016; electricity rates are to go down to thirty-five cents per kilo watt hour to all customers. The Public Utilities Commission announced the reduction in tariffs today after reviewing a request by Belize Electricity Limited. While B.E.L. requested a reduction […]
The Statistical Institute of Belize released the latest stats on consumer price index and external trade for the month of March. According to SIB, consumer prices were down one percent last month; so when compared to March 2014, goods and services were one percent cheaper. Food prices also saw a drop, including eggs, red kidney […]
