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Apr 23, 2015

Business Sector Senator Says G.O.B. Lied

Dean Barrow

Government operatives charged with selling the Petrocaribe Bill 2015 have sought to convince the media that the outcry is much ado about nothing. But tonight the Petrocaribe fire continues to burn bright. Business sector Senator Mark Lizarraga has gotten hold of the loan agreement between G.O.B. and Alba Petrocaribe which he says proves that G.O.B. knows exactly how much it will borrow even before the shipment leaves Venezuela. We have his comments for you, and preface it with the Prime Minister’s address in the House recently, when he stated that because Petrocaribe is a peculiar creature, they don’t know how much they are borrowing until the deed is done.


Prime Minister Dean Barrow [File: March 27th, 2015]

“So that is all this Bill is seeking to do—consolidate what has already happened, retrospectively validate what has happened by the way of this specific act focusing on and dealing exclusively with Petrocaribe and provide that going forward. There is now that authority of the House to borrow, in the peculiar circumstances, that prevent us from beforehand bringing to the House the details of the borrowing since we can’t know what the sums are going to be given the sliding scale, given the peculiarity of the arrangement.” 


Mark Lizarraga

Mark Lizarraga, Senator, Business Sector

“The funds, or the financed portion of each shipment received by the Government under this agreement, hereinafter call the loan, shall be repaid over a period of twenty-five years inclusive of a grace period of two years computed from the Bill of Lading date of each shipment. It also goes on to say that the repayment of the loan shall be guaranteed by promissory notes issued by the Government, and that a separate promissory note shall be issued for each shipment. It is clear, Marisol, that the Government needs to issue a promissory note before the goods leave Venezuela, and by the very fact that they are issuing a promissory note, one would hope that they are not issuing a blank check. One would hope that this promissory note contains exactly what it is that we owe and will pay Venezuela for the fuel on board that ship that we are about to receive. They said that they cannot ascertain beforehand what the value or the financed portion would be. I am saying they have to know, because they issue a promissory note for it when the Bill of Lading is issued, when the goods have hit the ship. Venezuela is saying I want payment from the minute this thing hits my ship, because that’s when I’m going to start charging you interest. From the minute the goods hit the ship I start charging you interest…that’s what Venezuela is saying.”

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1 Response for “Business Sector Senator Says G.O.B. Lied”

  1. Joe Blank says:

    So, Dean Barrow is a liar. Great. We all knew that before but thanks for re-enforcing the facts. amen!

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