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Jul 1, 2004

C.E.O. says Intelco will survive

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Intelco is not shutting down. That’s the short answer from C.E.O. Juan McKenzie today in response to questions about the financial crisis the telecommunications company is currently experiencing. In a brief conversation this morning, McKenzie told News 5 that executives had secured additional funding for their operations from Panamanian and European investors. The C.E.O. says while a severe downsizing of their operations has been taking place countrywide, they intend to keep their promise of providing cheaper calls to Belizean consumers. McKenzie says he has promised his company’s new partners to remain as C.E.O. for at least two more years. As for updating his Belizean clients on the status of the company, McKenzie says Intelco is planning to hold a press conference as early as next week. As we have previously reported, Intelco is grappling with the twin devils of rising debt and a yet-to-be-implemented interconnection agreement with B.T.L.

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