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First Caribbean - and it's predecessor, Barclays Bank - had been in Belize for 67 years, and Belize will be the first country that this bank is completely pulling out of, as far as we know. We asked the Prime Minister about his thoughts on the departure:

Prime Minister Dean Barrow
"Well, they say that this is business decision. Clearly, they had ceased being as profitable as they used to be and there are several reasons for that. It's unfortunate that they are leaving. I am happy that Heritage Bank is purchasing their assets. When both parties have come to see me, both Heritage and First Caribbean, I was assured that certainly the vast majority of the First Caribbean staff will be absorbed by Heritage. They did not say every last single individual employed, but the vast majority will be absorbed by Heritage. Clearly, all the employees of First Caribbean will have to be paid their severance and get their full benefits. For those who will be reemployed by Heritage, it's the start of a new chapter. The others that are not going to be absorbed I hope and believe that they will be able to find jobs in the banking sector, in the financial sector of the country. So we thank First Caribbean for the years during which they did business here. Regret that they have to go, but expressed some degree of relief that their departure is not as disruptive as it might have been."

Daniel Ortiz
"Is there any cause for concern that a bank that is well financed and has many branches, has decided to pull out, apart from just the business aspect of it. Is there any cause for concern apart from that?"

Prime Minister Dean Barrow
"No, there is no question of any difficulties with the jurisdiction. This is clearly their business model not having been able to continue to do as well in changing circumstances where competition is keener than ever before. So, it is unfortunate, but I don't think we should make too much of it."

The employees who are now facing termination have not made any comments, so far. Their bargaining agent, the Christian Workers Union, is working on ensuring that their severance packages are equitable and fair.