For the latest news across Belize, visit:
On July twelfth, ten working days after the decision of the Permanent Court of Arbitration was handed down, G.O.B. will need to make a payment of about one hundred and ninety-five million dollars to the Ashcroft Group. That’s only half of what G.O.B. must pay for its acquisition of Belize Telemedia Limited in 2009; the second half is due within a year. In September 2015, when the settlement agreement between Lord Ashcroft and Prime Minister Dean Barrow was signed, a preliminary sixty-three million dollars was paid, and then there was the BCB settlement of ninety-seven million. All told, the government is going to pay more than five hundred and fifty million dollars for the utility company. Today, that payment and government’s handling of the entire situation came in for some scathing criticism. Interestingly, the critic is Eamon Courtenay, the attorney who handled much of the B.T.L. litigation for Lord Ashcroft. He claims that when all was said and done, what the Prime Minister did can only be termed a negotiated surrender.