Fireworks are expected to fly at Saturday’s special annual general meeting of the Citrus Growers Association as growers vote on a proposed investment agreement with Eastern Caribbean interests. Following criticisms to the contract, the growers appointed a five man team to review and make recommendations to members. It is expected that following that presentation and […]
The questioning has become increasingly sharp at the public hearings on the Development Finance Corporation as a picture emerges of an institution filled with pliant managers guided by an unseen but powerful hand. News Five’s Janelle Chanona reports. The D.F.C. commission of inquiry continued today at the Belize Institute of Management with additional testimony from […]
In a global economic environment that appears to be permanently rigged against producers of commodities like sugar and bananas, Belize’s citrus industry stands out as a model of potential prosperity. With prices climbing and world demand forecast to remain strong, long suffering orange and grapefruit growers are just now beginning to reap some well deserved […]
This morning, following a two month suspension of public hearings, the Development Finance Corporation Commission of Inquiry was back in front of the cameras. The only difference this time around was a slightly higher level of drama as the witness list moved up the food chain at D.F.C. News Five’s Janelle Chanona reports. Janelle Chanona, […]
The last time the Commission of Inquiry into the Development Finance Corporation held a public hearing was way back on the twenty-fourth of August. Following nearly two months of hiatus due to September celebrations and the illness of Chairman David Price, on Tuesday the hearings will resume. For those who need to freshen their memories, […]
Two years ago, if someone told you he was happy to see the price of premium gasoline at nine fifty-four a gallon you’d think he was smoking too much weed. But that was two years ago … Today we are indeed happy to see gas at nine fifty-four, especially when twenty-four hours ago it was […]
Economists and politicians generally agree that Belize needs more investment. But that’s the easy part. The tough job is how to find it … and how to ensure that it works for Belizeans. News Five’s Janelle Chanona reports on the latest efforts. Janelle Chanona, Reporting This morning, Beltraide and the Belize Business Bureau teamed up […]
Belize is patting itself on the back tonight after the International Monetary Fund handed over a glowing report card on the country’s economic rescue mission efforts. Following a series of meetings with the Prime Minister, members of the Public Finance Committee, the Opposition and representatives of the private sector, the I.M.F. released a preliminary summary […]
When future historians interpret the period from 1998 to 2008 they will no doubt have a lot to say about the man at the top. And while they may disagree over how to weigh the hope of the early years against the scandals and financial problems that followed, all will be forced to agree that […]
That Belize is in a whole heap of financial trouble is hardly news … but when Belmopan issues a press release admitting that it cannot pay its debts and will go hat in hand to its creditors … well, we better sit up and listen. Today’s release from the Ministry of Finance comes on the […]
After a whole lot of to and fro it appears that B.E.L. and the government of Belize have finally settled their differences over G.S.T. According to a release from the Ministry of Finance B.E.L. has agreed to facilitate the refund of June G.S.T. payments erroneously billed in July by issuing a pro-rated credit on future […]
At a press conference called yesterday by the United Democratic Party, Opposition Leader Dean Barrow painted a grim picture of government’s financial position, going as far as to suggest that a selective default on certain foreign debts might be in the offing. Tonight, Minister Jose Coye, G.O.B.’s point man on financial matters since the isolation […]
It has been called a tempest in a teapot but the gathering storm over the application of G.S.T. to electricity bills is threatening to boil over and burn consumers. At issue is hundreds of thousands of dollars in G.S.T. invoices issued by B.E.L. Apparently, after much discussion, government gave the company the O.K. to charge […]
As the tremors of the Senate report continue to reverberate through Belmopan, today the Commission of Inquiry into the operations of the Development Finance Corporation announced its plans for public hearings. According to a schedule provided by the Commission, starting on August first there will be two forums held every week–on Tuesdays and Thursdays–at the […]
Consumers already forced to cope with certain unscrupulous merchants using the implementation of G.S.T. to price gouge, now face another G.S.T. scam–this time on their electricity bills. As announced long ago, beginning July first the ten percent tax has been placed on all light bills above one hundred and fifty dollars per month. That was […]
Last month it was housing loans; today Cabinet extended its cheap sale to students by offering write offs and discounts to over fifteen hundred borrowers from the Development Finance Corporation. According to the press briefing on Monday’s Cabinet meeting, that body will recommend to the D.F.C. board that all student loans with original amounts of […]
Tourism statistics for the first five months of the year are out and the numbers are good or bad, depending on whether you earn your living in the overnight or cruise side of the industry. For traditional overnight visitations, arrivals at the Philip Goldson International Airport are up a healthy four point seven percent over […]
It was established in September of 2004 and in the ensuing twenty-two months the Senate Select Committee investigating the Social Security Board’s ill-fated mortgage securitisation programme has gone about its work with quiet determination. Today it presented its one hundred twenty-four page report to the full Senate, from where it will be sent to the […]
As noted earlier, the Senate Special Select Committee has recommended that the persons who handled the securitization process for the Social Security Board should be relieved of their jobs. In another part of his address this afternoon, Chairman Godwin Hulse, detailed the actions that he and his fellow senators say forced them to make those […]
Much of today’s proceedings in the National Assembly focussed on procedural irregularities regarding the management of the investment portfolio of the Social Security Board but today Senator Hulse also highlighted that while the idea of securitization is sound, the way the Belize programme was administered continues to cripple the nation’s finances. Senator Godwin Hulse ?Securitization […]
On Friday we showed you some of the many Belizeans who rushed to stock up on groceries in anticipation of post G.S.T. price increases. Today, officials from the Central Statistical Office hit the streets of the old capital to conduct spot checks on store shelves and News Five’s Alyssa Noble tagged along. Robert Griffith, Cayo […]
Tomorrow morning Belizeans will wake up to a brand new tax: the General Sales Tax. From its inception, the tax has been categorized as a close cousin of the much maligned Value Added Tax. And today News Five’s Alyssa Noble discovered that the G.S.T. is already creating its own brand of chaos. Amparo Noble, General […]
With the price of oil fluttering around seventy U.S. dollars a barrel even a miniscule ten million barrel field like the one in Spanish Lookout looks pretty rich. So it’s no wonder that when it comes to taxing all those potential greenbacks, the tax collectors and tax payers are going to have some strong feelings. […]
Meanwhile, this evening we contacted Minister of Natural Resources John Briceño, who told us that while he understands B.N.E.’s desire to do the best it can for itself, the company was well aware of government’s plans and the new tax rate is fair for all concerned. John Briceño, Minister of Natural Resources ?From earlier on […]
The news from the citrus industry continues to be upbeat. With the processing of oranges due to end on June thirtieth, the Citrus Growers Association is reporting a significant rise in revenues, with the final price estimated at just over nine dollars per box, or a dollar, fifty-three per pound solid. This is up over […]
