Posted: Sunday, January 14, 2018. 11:27 a.m. CST.
By BBN Staff:The stock value for Caribbean Investment Holdings Limited (CIHL) has increased since the start of 2018, which the business site Interactive Investor is attributing to the Government of Belize’s pending payment for the Universal Health Services (UHS) guarantee.
Interactive Investor announced that as of Friday stocks for CIHL, formerly BCB Holdings, were up by 20 percent. CIHL said that it has made all the necessary steps to collect the amount owed, the original USD $18.5 million plus interest at 17% interest compounded on a monthly basis from September 8, 2012, and expects that GOB will pay soon given the ruling of the Caribbean Court of Justice (CCJ).
Prime Minister Dean Barrow tabled the motion to pay the debt at the House of Representatives on Friday, January 5. The motion will be debated at the next sitting of the House in February.
Investor confidence in the payment does not mean that payment is imminent, as Barrow spent the last House Meeting explaining why only parliament has the authority to order that the payment be made. Barrow has maintained that ministers will be asked to vote their conscience. Some of those ministers have stated publicly that they will vote “no” whenever it is time to vote on the motion.
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