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And it's important to us AT 7NEWS because we're the ones who first challenged Prime Minister and Minister of Finance Dean Barrow, saying that it should be taken to the House because it is a loan. That was on August 29th and here's how THE exchange went:

Jules Vasquez
"At what point do you take it to the national assembly as it required I believe because it's a loan right and the finance act requires that you take loans to the national assembly?"

Hon. Dean Barrow, Prime Minister
"That's how you see it and that's how you would treat it."

Jules Vasquez
"It's a loan."

Hon. Dean Barrow, Prime Minister
"Well I won't argue with you. The question of whether this is something that needs to go to the national assembly in a particular way is an issue to be looked at."

It was looked at, and one month later on September 29th, notice of the loan motion was given to the National Assembly. It was presented to the House as a Loan motion on October fourth but now the PUP says, it's all wrong.

Chairman of the Public Accounts Committee and Cayo South Representative Julius Espat has written to the Auditor General asking her to investigate. Espat says that the Government took out the loan in 2012, and then came to the house after for approval, when it should be the other way around. Here's how he explained what he calls "retroactive validation" it at his Belize City office today:..

Hon. Julius Espat
"Government is trying to validate or ratify a borrowing that was done since 2012 and that's not the concept on how it is supposed to be done. It is supposed to be that government intends to borrow money, goes to the House of representatives, the House of Representatives approves the borrowing of the money and then they put it into a consolidated fund and then they are authorized to use it once they follow the rules and regulations under the finance and audit act. None of that has been done. So what we did was alert the auditor general because under the law also she is required to do certain things and we specify it here; she is the one that supposed to find out if the money was received; if the money was borrowed lawfully and how the money is being spent."

Jules Vasquez
"The Venezuelan money is spending, the Venezuelan money is appreciably improving the physical infrastructure of the country. So now why you all are playing problematic?"

Hon. Julius Espat
"I understand that some Belizeans would appreciate that some of this money is being spent for whatever projects they are putting it on, but we fail to understand that are we getting value for money? Are the streets or the roads that we are paving or concreting, does that add up to the value that we are borrowing? We need to know. It is our right to know."

Jules Vasquez
"Sir but the PUP, it continues to led by the no's because you all were asleep at the wheel. If it weren't for the media who pointed this out, you all would be none the wiser - the money is spending left, right and center. Now the PUP is the one who came up with the finance and audit reform act."

Hon. Julius Espat
"Jules, are you not part of this society?"

Jules Vasquez
"Absolutely."

Hon. Julius Espat
"And does not the media play a vital role in this society? But then when somebody takes a good advice from you, isn't that a good thing?"

Jules Vasquez
"But sir."

Hon. Julius Espat
"No, the politicians are not gods."

Jules Vasquez
"But man it's not my job, it is you all job."

Hon. Julius Espat
"No, it is all our job. My children and your children goes to school."

Jules Vasquez
"No sir, you are a part of the government, you are paid to act as a watchdog. I am just an entertainer."

Hon. Julius Espat
"You are an entertainer. I am not an entertainer, but I am an elected representative."

Jules Vasquez
"I can see that."

Hon. Julius Espat
"I don't why away from the fact that the media alerted it, you alerted it. But the only way we could have come up with this is after it was tabled in the House and that's what we have done."

Jules Vasquez
"Is it your aim to ultimately to block spending or further use of funds from this money as long as there is not, in your opinion, or that of your advisors, the proper procedures in place?"

Hon. Julius Espat
"Well our intent is to make the government act legally."

Jules Vasquez
"Yes, but I'm trying to find out from what strategic angle you are operating is so far as - hear what is going to happen, in the House the majority rules and one has the feeling the majority will approved the resolution."

Hon. Julius Espat
"There are other ways of making sure that that doesn't happen if they are doing it unlawfully."

Jules Vasquez
"There aren't many other ways; one is in the court and one is in the street. You will not get the street to mobilize against the Venezuelan cheese."

Hon. Julius Espat
"Both options are open."

And one of those open options is asking the Auditor General to report her findings to the National Assembly before the House reconvenes for the consideration of the motion.