PUP says BTL nationalization was too costly for Belize

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Posted: Thursday, June 8, 2017. 8:37 a.m. CST.

By BBN Staff: With legal fees to be paid to Michael Ashcroft amounting to hundreds of millions of dollars, the People’s United Party is reemphasizing that the nationalization of Belize Telemedia Limited was a bad investment for Belize.

PUP leader John Briceño told Channel 5 this week that Prime Minister Dean Barrow  wrote a blank cheque to Ashcroft, when he signed a settlement agreement in 2015.

Briceño insists that Barrow signed the agreement for political points to secure a third term in office, rather than breaking a deal that would be beneficial to the Belizean people.

I can remember when the Prime Minister was saying that during the negotiations, it was fast and furious; but now we’re finding out that it was false and furious and foolish and stupid, because any attorney that is worth his or her salt will tell you that in these negotiations you cap your expenses,” Briceño said.

His critique follows the announcement that the government will have to pay around $250 million in legal fees to Ashcroft, out of the portion of the settlement amount that should have been used for social projects in Belize.

Barrow has said that he will take the matter to the Caribbean Court of Justice.

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