At the top of the newscast, we told you about today's press conference where much of the talk was about Petrocaribe. But the event last almost two and
a half hours, and the Prime Minister spent the first 70 minutes going through a number of issues of public interest. Foremost among them is the Belize
Bank – and the recent loss of its correspondent banking relationship with the Bank of America. That was the subject of a meeting the Prime Minister
held with Bank officials in Miami this weekend – and today he told the media that the message coming out of those meetings is that the rest of the
banking sector is stable:…
Dean Barrow - Prime Minister of Belize
"A part from the Belize Bank, there is none of those local banks which is in any danger of having Bank of America withdraw in corresponding banking
relationship them. That was absolutely confirmed to me by all the officials with whom I met. There is not any sort of looming storm cloud in the
horizon. I want to make clear, that Bank of America insists that it is nothing that the Belize Bank has done wrong. There is some misalignment
according to them between their business model and the business model of the Belize Bank. They're's no question of any kind of blame, there is no
question of any kind of wrong doing on the part of the Belize Bank. I will say here and now, I've had my difficulties with the principal shareholder of
the Belize Bank. The government of Belize fully supports the Belize Bank. It is the largest bank by market share in this country. It services a number
of sectors of the economy and we are determined that we will hold hands with the Belize Bank to help to see them through this temporary and I believe
in a larger scheme of things, minor setback."
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