PM: Ashcroft Inflating Costs in Second Payment Due for BTL

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Updated: March 14, 2017

During the budget presentation for 2017/2018, Prime Minister Dean Barrow confirmed that there are currently four arbitration awards against the Government of Belize.  There is a second payment becoming due to Lord Michael Ashcroft in the Belize Telemedia Limited acquisition which Prime Minister Barrow says that he is having issues with as Ashcroft is reportedly inflating some figures.

DEAN BARROW

The four arbitration awards referred to by the Prime Minister are the Belize Social Development Ltd Award for twenty two point five million US dollars; the BCB Holdings Award for twenty seven point four; the NEWCO Limited Award for four point four million US dollars and the Belize Bank Limited Award for thirty five point two million US dollars.