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Jun 10, 2020

P.U.P. Considering to Challenge G.O.B.’s U.S. $30 Treasury Note

John Briceño

Opposition Leader John Briceño says he was left in the dark on the treasury note and that Prime Minister Dean Barrow failed to discuss it with the National Oversight Committee or with members of the Economic Oversight Team.  With debt at record levels, Briceño says that the note raises many questions and concerns, including what the monies raised will be used for.  Since G.O.B. has no authority to issue the notes, will it be taken to the House for parliamentary approval?  The P.U.P.’s lawyers have been instructed to determine whether the party can challenge it in a court of law.

 

John Briceño, Leader of the Opposition

“I found this out like the rest of the nation via media reports. It was never raised or discussed at the level of the National Oversight Committee or at the Economic Oversight Team. Today our National Executive discussed this issue and raised many important questions which we believe the nation should consider. One, what will this do to our national debt? Two, how will this affect our position with the super bondholders. Three, can this be done without the approval of the National Assembly, and four, what will these bonds be used for? The executive has asked the legal advisor to look into it because in January, the Chief Justice made a landmark decision where he said that you cannot be spending monies without the approval of parliament and gave us six months to fix that and also a stay that it should not ever happen again. So that was brought up when we discussed this issue and the legal advisor was asked to take a look into that as to whether we should take a legal challenge in this.”

 

Hipolito Novelo

“What steps do they foresee should be taken now and would the Party if it was taken to the House, before the two weeks?”

 

John Briceño

“Well certainly that is the right thing to do and I think they probably will have a House meeting probably within the next two weeks because the national emergency is coming to an end. It comes to an end on the thirtieth of June and so we need to find how is it that we are going to move forward.”


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