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190 million dollars – that’s how much the Government of Belize had to pay the Ashcroft Alliance today as partial payment for the BTL final settlement.  The government had announced that half would be paid within 10 business days of the decision from the Permanent Council on Arbitration.  Government paid 60% - or 114 million dollars of the total in Belize currency and 40% in US dollars – amounting to 38 million US dollars.  The Belize currency was raised through the selling of government treasury bills and notes, while the US currency came out of the Central Bank Reserves. 

It’s a serious strain on government’s finances and hard currency reserves – and they’ll have to do the same thing in a year’s time when the final 190 million is due. 

Reports tell us that there is already a dispute with the Ashcroft Alliance over that 114 million paid in Belize currency.  Reportedly, they have requested that it be paid in US dollars – but government refused because would put a serious strain on the Central Bank reserves.