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GoB passes amendment to issue up to $1.3 billion in treasury bills

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Posted: Sunday, December 11, 2016. 6:10 pm CST.

Posted: Sunday, December 11, 2016. 6:06 p.m. CST.
house-of-representatives

By BBN Staff: The government approved a motion at last week’s Sitting of the House to amend the Treasury Bills Act.The amendment will seek to raise the limit of principal sums represented by Treasury Bills and Treasury notes.

In essence, the Government of Belize is seeking to print more Belizean dollars to the tune of $1.3 billion.

Deputy Prime Minister, Patrick Faber introduced the bill and Opposition Leader, John Briceno fiercely rebutted.

He emphasized that the government only wants to print more monies so that it can borrow from the Central bank.

“The government is behaving like a crack addict,” he said as he accused GoB of,  “thiefing up the money.”

DPM Faber explained to Briceno that the government needs the money to pay Lord Michael Aschroft for the recent BTL arbitration award settlement.

 

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