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SSB reportedly not buying BTL shares

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Posted: Saturday, July 9, 2016. 1:45 pm CST.

Posted: Saturday, July 9th 2016, 2:31 p.m. CST

belize social security board

By BBN Staff: The Social Security Board (SSB) is reportedly not going to purchase $55 million in Belize Telemedia Ltd. (BTL) shares as had been previously decided.

According to reports, though the SSB Board had approved a decision to purchase the shares from the government, GOB will retain the shares and instead sell treasury notes and bills to SSB.

The treasury notes and bills are the same ones being used to finance the payment of the $458 million BTL settlement. SSB will reportedly purchase over $10 million in government bills.

SSB had faced backlash after making the decision to buy the BTL shares. Citizens Organized for Liberty through Action (COLA) and the Belize Progressive Party (BPP) both publicly criticized the move.

 

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