Minister of New Growth Enterprises Kareem Musa insisted that the reason why there will be no legalization and no referendum on the matter is that the referendum will be very costly. He also conceded that the concerns about the potential negative impacts on correspondent banking relations were also a reason for the shutdown of this major legislative push from the Briceno administration.

Well, today - the government more or less threw in the towel in a joint statement with the churches.

That statement arrived this evening and acknowledges that the churches triggered a referendum, but also concedes that, quote, "The Bill will not be brought into force until the issues in relation to the banking of proceeds connected to cannabis are resolved because this would otherwise have a negative effect on Belize's domestic banks' correspondent banking relationships." End quote. So, Senator Bishop A. Moses Benguche has put in writing that the churches agree to the postponement of the National Referendum.

They will now write to the Governor General on behalf of the petitioners and the Government of Belize, to ask her to defer the issuing of the Writ of Referendum until a date to be determined.