Today the Leader of the opposition was careful not to jump all over the Barrow administration for the costly loss in court. He said it is lamentable, but was also preventable:...
Hon. John Briceno, Leader of the Opposition
"It is unfortunate that we had that ruling. I am in no way rejoicing that the government has to pay 67 million US. Because we know that there is a shortage of US dollars. We know, that it's no other than the government's banker, the governor of the Central Bank wrote a letter I think in July to the financial secretary saying that they cannot afford to give out this US dollars, because then our 2-1 peg; $2 Belize to $1 US is going to be threatened. That there could be a devaluation."
"If you talk to the business people, every one of them will tell you that they cannot get access to US dollars, because there is a shortage in US dollars. The economy contracted by 1.5% over the first 6 months and this is when we have all the economic activity. You could imagine what we are going through right now when everything has slowed down? So now because again, of the arrogance of the Prime Minister, feeling that he knows more than everybody, signed on to something knowing full well that he has to pay in US dollars and then decides that he is going to pay in Belize dollars, now taken to court and the court says that he has to pay in US dollars. I am not rejoicing for the loss of the government, because all of us, we are Belizeans first and foremost, but this is in the hands of the Prime Minister."
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