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Apr 28, 2015

Petrocaribe Loans Act Won’t be Struck Out, PM Open to Tweak Law

Dean Barrow

While the prime minister has made it abundantly clear that there will be no repeal of the Petrocaribe Loans Act, he is open to the idea of fine-tuning the legislation to provide reassurance for those with a valid sense of concern.


Prime Minister Dean Barrow

“I am absolutely positive that the Belizean people are with me on this and so I passed that law that put the matter, as far as I am concerned, beyond all challenge, beyond all doubt.  I am not doing this for any kind of a personal reason, this is to protect what has been this extraordinary boon for the Belizean people.  It is unprecedented for you to get monies for development purposes for uplift of the people to be repaid over twenty-five years at one percent.  Who can be against that except those that are thinking along purely politically selfish lines.  Let me say for the third time, they are not going to stop Petrocaribe.  They talk about going to the streets, the only reason I will not tell you today about the U.D.P. is going to the streets is because I don’t want to be confrontational.  They are the opposition as I say, I certainly can see right through them and I believe most people can as well.  They want to have their demonstrations and protests they are free in a democracy and I don’t expect by telling them that in the end it will be pointless and that will stop that but I do say that it is going to be absolutely pointless.  There will be no turning back from Petrocaribe.  I say again and I will talk about this in some detail tomorrow, we can perhaps tweak things a little to offer some comfort for those who have, as I’ve indicated, a legitimate sense of unease.  But if anybody thinks that they will derail Petrocaribe, stop this, as I said, quite extraordinary, phenomenal bit of financing, well not bit, it’s extraordinarily bountiful, windfall-type financing which we have been using for the benefit of Belize, that person needs to think again.”


The prime minister’s press conference will be held on Wednesday morning at ten o’clock at the Biltmore Hotel.

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