Today the Belize Chamber of Commerce and Industry weighed in on Governments settlement with Lord Michael Ashcroft which is causing much controversy. BCCI states in its release that it is most concerned at the method of Prime Ministerial Governance displayed with regard to the BTL settlement. The Prime Minister, says BCCI, unilaterally negotiated and bound our country to make a $162.7 million payment with the possibility of yet further payments due at the conclusion of the still outstanding Dunkeld arbitration case.
BCCI believes that the hasty move by the Government to announce the settlement of BTL has caused major confusion among Belizeans who are trying to comprehend how a settlement can be made official when the true and final financial cost of the said settlement is as yet unknown. The uncertainty of such action is far reaching and continues to leave us in the dark as to the quantum of Belize's full national debt, says the release.
Based on those points BCCI calls for full transparency of the financial cost associated with the BTL settlement agreement including the specific financial accounts that will be used to pay for the full and final BTL settlement. BCCI also reiterates that there is a need to strengthen the financial system and create more accountable governance, increase transparency, combat corruption, and place priority emphasis on measures aimed at improving our investment environment in order to accelerate economic growth for the benefit of all Belizeans.
At the same time BCCI makes it known that it stands by its position made
six years ago that it was not necessary for the Government of Belize to expropriate BEL and BTL