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Is Governor Ysaguirre of the Central Bank gone?

Posted: Saturday, August 27, 2016. 5:24 pm CST.

Governor Ysaguirre of the Central BankBy BBN Staff: In an interview with the media, including BBN, after the house meeting was suspended yesterday, Leader of the Opposition, Hon. John Briceno, informed that Glenford Ysaguirre was fired as the Governor of the Central Bank. Briceno claimed the Governor was fired for revealing that ‘the Emperor has no clothes” as he made reference to the damning letter written on July 22nd 2016 by Ysaguirre. In that letter, the Governor warned the Financial Secretary, Joseph Waight, that the Central Bank was unable to facilitate a request by the Ashcroft Alliance to pay $70 million more in US currency for the BTL settlement agreement without jeopardizing the 2:1 exchange rate peg for the Belize dollar. Ysaguirre also made reference to the dire state of Belize’s public finances,  the critically low level of foreign exchange reserves, the significant fall in export earnings and the current shrinking of the real economy.

Prior to the announcement made by Briceno, BBN had received unconfirmed reports that Ysaguirre had been removed as Governor.

Glenford Ysaguirre has been the Governor of the Central Bank of Belize since October 2008 and was about to complete 8 years at the helm of the bank.

Due to the weekend, Breaking Belize News has been unable to confirm whether Governor Ysaguirre has indeed been fired by the Barrow government.

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