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Written by Administrator
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Thursday, 22 July 2010 00:00 |
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Heights, Fresh pond and others are vivid and tangible examples of the disaster that was the PUP administration between 1998 and 2008. However, by far, the most damning and clear reminder of the PUP’s death-grip is the Super Bond. Again on August 20, in just under a month, the Government of Belize will have to take US$23,497,211.11; that’s BZ$46,994,422.22 to service the Super Bond. This will mark the first payment which the Government of Belize will have to be making on the bond at an interest rate of 8.5%. For the next 19 years, interest will remain at that rate. Those payments, however, will be simply to service the interest on the Super Bond. It will not be until 2019 that we will begin to pay on the interest of the bond, by that time interest and principal payments combined would add up to US$50,708,105.56 that’s $101,416,211.12 in Belize dollars. It’s a heck of a price to be paying for projects that in no way benefitted the ordinary Belizeans, but which did in fact make some of the PUPs excessively wealthy. All of this, we must remember, took place at the expense of the Belizean public. |
