The Prime Minister didn't attend presumably because as Minister of Finance he has to oversee that massive first payment to the Ashcroft Alliance. It's 190 million dollars, and Government has to pay it through the use of reserves and domestic borrowing. It's not going to be easy - and the only simplifying factor is that a large chunk of it can be paid in Belize dollars - as part of the settlement with the Ashcroft Alliance. But can it really? We've heard reports which say that the Alliance is demanding that it be paid in US dollars - which would open the way for another dispute with government.
And to add to all that, there's still unsettled business between Government and the Ashcroft Alliance. There is still a pending dispute in a US court where Belize may have to pay the Alliance over 80 million dollars. Last week the Prime Minister said that one they will not pay:..
Rt. Hon. Dean Barrow, Prime Minister
"Now if you want to say 'alright, remove it from the calculus having to do with the award,' but treat with it as another liability of government arising out of the battle with what you famously referred to as the Ashcroft Alliance. I would say to you that we are absolutely convinced that we will never have to pay that BSDL award, and leave it there."
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