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Sep 17, 2012

N.T.U.C.B. supports restricting; 11 point demand to G.O.B.

The National Trade Union Congress of Belize (N.T.U.C.B.) this afternoon sent out a press release with eleven points dealing on a wide range of issues of national priority including the five hundred and fifty-four million dollar Superbond. After meeting with the Debt Restructuring Team, the N.T.U.C.B. supports the government’s desire to renegotiate the Super Bond because it says the government has always expressed a willingness to meet the country’s debt obligations with more favorable terms and conditions. The N.T.U.C.B. is troubled, however, that the pension funds for the workers of the Belize Sugar Industries (B.S.I.) have been invested into the bonds. And with non-payment, the future of the B.S.I. fund is uncertain and the situation leaves both B.S.I. employees and the N.T.U.C.B. in “grave concern.” The N.T.U.C.B.’s support is contingent on a number of issues it wants addressed. These include the improvement of financial regulations and the reactivation of the integrity commission. The union wants wanton land distribution to stop, especially when it involves under the table deals and preferential treatment; funding for the Statistical Institute of Belize and a stop to outsourcing of government work.  It’s also demanding that government recovers millions of dollars owed by persons who have made no attempts to pay their debts.

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4 Responses for “N.T.U.C.B. supports restricting; 11 point demand to G.O.B.”

  1. Storm says:

    Well, that was an ENORMOUSLY stupid and reckless investment!

    Anyway, good investment practices say that no more than 4 or 5% of a given fund should be invested in ANY stock or bond, just in case of a default or failure. Never invest more than you can afford to lose in ANYTHING.

    I assume and hope some investigation will be made into how the investment was made, which individuals made the decision, whether there were any bribes, kickbacks, or other improper inducements to make the foolish investment.

  2. Anthony says:

    Storm, all GOB needs to do is pay the superbond, and the pension fund will have its money.

    Barrow said payment was budgeted for the entire year. Money doesn’t just disappear in two months.

    Pay the super bond, PM Barrow.

  3. Storm says:

    I guess Barrow is just waiting for the last, most dramatic moment to pull the “budgeted” money out of some crevice and pay the Superbond.

    Tomorrow is the day!

  4. Lewis says:

    If PM Barrow was smart he would pay the Super Bond coupon tomorrow.

    I doubt that he is smart so he won’t pay.

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