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Petrocaribe Bill Goes Back To House; Opposition Will Challenge It
Wed, March 25, 2015

The budget debate is the main business of tomorrow's house meeting – but the opposition is getting ready to challenge the government on the passage of the Petro Caribe Loans Bill.

The bill seeks to regularize the inflows from the Petrocaribe initiative. While all loans of a certain size have to go to the house, Government argues that since the petrocaribe flows change every month – it cannot ask for pre-approval of a figure it does not know. This bill seeks to correct that.

But the PUP are saying that it runs roughshod over the laws to do so. They point to this clause. It reads: Notwithstanding anything contained in the Finance and Audit (Reform) Act, 2005, or any other law to the contrary, it shall be lawful for the Government of Belize to borrow money from ALBA Petrocaribe (Belize Energy) Limited in any amounts without the prior authorisation of the National Assembly and to enter into a loan agreement with APBEL for the said purpose.

PUP Chairman of the Public accounts committee Julius espat says this gives the Prime Minister authority to put Petrocaribe moneys into a special account and it takes everything out of parliamentary oversight. He says there will definitely be no transparency –and it is one of the scariest things he has seen.




7 News for March 25th, 2015 from 7News Belize on Vimeo.

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