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Jan 14, 2014

…But PetroCaribe agreement forbids use of funds for salary adjustments

Dean Barrow

On Monday, the prime minister called in to the media to explain the context in which he made the statement.  PM Barrow says that the terms of the PetroCaribe agreement forbids the use of the funds for other purposes, particularly for the salary adjustment.


Via Phone: Prime Minister Dean Barrow [Courtesy: Love FM]

“I thought I’d call in now because of one particular issue. You referred to my statement during a political rally in one of the villages in the Cayo Northeast constituency. And you said that I had spoken about the millions that the government has and, in fact, seem to think that it was irresponsible of me to talk about the millions in a context where I was saying to the teachers you can’t get anything like the level of salary increase that you wish.  Now, you are entitled to that opinion, you are entitled as a talk-show host to make that point but later on when Minister Faber said to you, “but there’s a clear difference between PetroCaribe money which is borrowed funds and which cannot therefore be used to pay recurrent expenses. Instead of taking the point you said, “well, but people would not understand it that way.”  Well, Nuri, I have to, I have to take issue with that.  Two things: why on earth shouldn’t people understand a very simple declaration that is based on facts?  The PetroCaribe money is not only borrowed money so that you can’t use it to pay recurrent expenses, contractually, as a matter of the international obligations between Belize and Venezuela.  As a matter of the rules governing the disbursement of the PetroCaribe funds, the government can’t use those funds for any purpose other than project financing.”


So while the PetroCaribe funds won’t be used for salary adjustments, he will use the millions of dollars for Cayo Northeast.  New Five has learnt that a five percent in salary adjustments will amount to approximately twenty-five million dollars. Financial Secretary Joseph Waight says that government would need to realize at least fifty million dollars in revenue during 2013, in order to fulfill the demand for a salary adjustment, but that in its projection government is nowhere near reaching that threshold.

Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

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1 Response for “…But PetroCaribe agreement forbids use of funds for salary adjustments”

  1. Rod says:

    This judas is a pestilence please march to this pm house he needs to go one way or another but the people of this country are sick and tired of the incompetence , the thieving , and the total corruption not to mention all the murders People more people have died in 5 years than in the last 60 years in this country.

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