Belize Times September 2, 2012

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Sunday, September 2, 2012

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THE BELIZE TIMES

SCAN HERE

Issue No. 4811

www.facebook/Belize Times

SUNDAY September 2, 2012

Running out of time Superbond stalemate could lead to irreparable economy, costly litigation

Time is runnng out on the UDP Government and the Superbond Team. Taking Belize down the road of litigation will only benefit UDP lawyers. (L to R) Financial Secretary Joseph Waight, Minister of Immigration Godwin Hulse, PM Dean Barrow, UDP Ambassador Mark Espat & Central Bank Governor Glenn Ysaguirre

Belize City, August 29, 2012 A stalemate continues between the Government of Belize and creditors over the re-negotiation and payment of the Superbond. The Government has taken an arms-folded “the bondholders

will come” attitude and position, while the creditors are refusing to engage in talks, accusing the Government of withholding information and being “unnecessarily provocative” when it missed a US$23.5m coupon payment that was due on Monday August 20th.

UDP shuts down “Pro Poor” Policy!

But the stalemate cannot continue for long. Belize is running out of time. Since defaulting on the August 20th payment, Belize has temporarily avoided the serious legal, financial and economic ramifications because of a 30-day grace period which ends on

September 19th. Once that deadline passes and Belize continues its hard-pay position, we can expect severe repercussions – from credit rating agencies dumping Belize’s credit standing to below Continued on page 4

Woman kills ex in jealous rage

200 poorest of the poor fired…640 more on the chopping block

Belize City, August 29, 2012 A young Belize City woman, 26 year old Calaney Flowers, is in Police custody today after she knocked down and killed her exboyfriend on Tuesday night. 29 year old Lyndon Morrison was driving his motorcycle on Freetown Road with his current girlfiend, Sochyl Sosa, on the

backseat when a red Saturn Ion car slammed into them. The car was driven at the time by Flowers. Continued on page 3

INSIDE THIS ISSUE

Calaney Flowers & Lyndon Morrison during happier times

Mark King showed no remorse upon firing 200 poor Belizeans

Belize City, August 27, 2012 The UDP is repeating sad and cruel history by firing 200 Belize City workers who were employed under the Barrow Administration’s Southside Rejuvenation Project. The Junior Minister of Gangs, Mark King, has confirmed that 600 more workers will be terminated within weeks, including those in the Poverty alleviation, CYDP and the Gang Truce. This dastardly act will record the

See page 4

GOB says no aid for cane farmers Flooding caused $7.54m in damages, cane farmers’ association says Corozal District, August 27, 2012 Cane farmers are about to face very difficult times despite having had a productive cane season. Severe flooding from the passage of a tropical depression over northern Belize on August 8th caused tremendous damage to hundreds of

See page 3

WILL unions hold gob to salary demands?

02 10

CHIEF MAGISTRATE SCOLDS POLICE OFFICER

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Fuel prices

Increase to record

high of $13


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