Tonight, the stability of the banking sector is in focus after hard and heavy attacks on Atlantic Bank- both in a formal letter to the Central Bank - and in a smear and fear ad campaign.
It's all about Stake Bank - which we've told you is the biggest receivership in Belize's banking history.
Atlantic Bank activated a receivership to recover 60 million dollars that it loaned the project - while investors from Salvador and Honduras are owed another 160 million dollars.
That's at least 220 million spent - and the project needs another 50 to 100 million to be completed!
It's a huge mess, and an ugly fight for control. And today we asked the Prime Minister and Minister of Finance if government has any plans to get involved:
John Briceno, Prime Minister
"It's unfortunate but let me say at this point that I will not comment, quite likely that's ending up in court and if at any time the government believes that it needs to step in for the interest of the country, we will consider, but we're not there yet. I am confident that the governor of the Central Bank along with his officials are doing a good job and that they're going to be managing this well."
Courtney Menzies:
"Do you suspect that there will be any risk to the banking system?"
John Briceno, Prime Minister
"I don't expect that."
| 