Belmopan City Council indebted for nearly $9 million

Published by BBN Staff at March 24, 2021

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Posted: Wednesday, March 24, 2021. 8:22 pm CST.

By Aaron Humes: Eight million, eight hundred and fifty-eight thousand, eight hundred and thirteen dollars and seventy-nine cents and counting – that’s how much the Belmopan City Council estimates it owes its creditors at the start of Mayor Sharon Palacio’s term.

During the State of the Capital City address given this morning, the new Mayor and her team spoke of the challenges and issues they have inherited.

More than two-thirds of the bill is for the Council’s Municipal Bond issued a year ago, for $6 million. There is also a 1.5-million-dollar loan outstanding with the National Bank of Belize.

City Hall owes hundreds of thousands to Social Security and to Income Tax, and has other outstanding bills totalling close to a million dollars.

Still to be detailed, a release from the Council says, are outstanding contracts to be paid.

The Council promises to keep residents informed.

Area representative Oscar Mira has admitted “it’s not an easy fix” and it will be difficult to get the Council back on track. Mira is counting on his personal working relationship with new Mayor Palacio and the support of the Central Government to turn the New Capital around.

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