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Jul 28, 2016

G.O.B. Says Regardless of CCJ Decision It Cannot Pay

Eamon Courtenay

Government has indicated to the CCJ that irrespective of the outcome, it is unable to make the payment in U.S. dollars.  The Central Bank of Belize, in a four-page letter written to Financial Secretary Joseph Waight, has informed government that it cannot meet its request to make available an additional seventy million U.S. dollars.  Being broke, says Courtenay, doesn’t forgive government’s legal obligation to pay its debt.

 

Eamon Courtenay, Attorney for Ashcroft Group

“The government has indicated essentially, that even if the Caribbean Court of Justice orders that my clients are entitled to be paid in U.S. dollars, that the government is not in a position to make U.S. dollars available.  As I understand the government’s position, the Government of Belize does not have the U.S. dollars available to make the payment and the Central Bank is not prepared to sell the Government of Belize the U.S. dollars to make the payment.  So we are going to have a very historic standoff between a court, if they agree with us, saying that you should pay in U.S. dollars and the government saying “I don’t have it” and the Central Bank saying “I have it but I will not sell it to the Government of Belize”.  I would just remind people that this arose out of an acquisition of property and the constitution says you are to be compensated.  The government agreed that the arbitrators were to determine it.  The government agreed that they would pay fifty percent in ten days.  They agreed that they would pay it in U.S. dollars and now that the time has come for them to pay they are saying that they are broke.  That does not absolve you of your legal obligation, so once again we are back in court having to go and have the CCJ determine who is right and who is wrong.”

 

Isani Cayetano

“What is the quantum that we are looking at here?”

 

Eamon Courtenay

“In relation to what we are saying it’s about sixty-nine point seven million dollars or about seventy million U.S. dollars should be paid and then we would pay back the Belize equivalent.”

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4 Responses for “G.O.B. Says Regardless of CCJ Decision It Cannot Pay”

  1. Jake says:

    What a load of CRAP all the dollars should be Belize dollars this is not the US we are selling in this is Belize!

  2. Hatari says:

    You people elected these fools. Guess you get what you get.

  3. LOL says:

    Well said Hatari.

  4. Nigel says:

    This festering pustule on the face of Belize is the real traitor here. This is what happen when you have attorney’s deeply embedded and aiding and abetting a criminal organization such as the one he is representing. His party sold us out and now he is forcing we the people to pay for their thievery. He is morally bankrupt just like every other criminal attorney in this country that is in bed with the politicians. Nothing but a john crow that pitch down to feed on the scraps and tethered remains of a country that both government hyena’s left behind. But what can I say the apple doesn’t fall far from the parasitic tree.

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