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Thursday, October 21, 2021
Home General House meets Friday – $7 mil in loan write-offs to be tabled

House meets Friday – $7 mil in loan write-offs to be tabled

Official sources indicate that the Barrow administration will move on Friday, January 13, 2012, to pass a write-off motion for nearly 800 mortgages of $50,000 or less, following a New Year’s Day announcement by Prime Minister Barrow signaling that the debts currently held through the Belize Social Security Board, which had purchased the loans from the Ministry of Housing, would be forgiven.
We understand that the motion for roughly $7 million in write-offs for mostly non-performing loans is not quite ready and is still undergoing drafting by Government’s legal counsel, Gian Ghandi. The matter is also expected to be discussed at Parliamentary Caucus tomorrow.
Additionally, the government is getting ready to introduce new legislation that would put into effect reduced electricity rates which are expected to be announced in the next few days.
Barrow had also said in his New Year’s Day address that the day after the new rates are announced, the House would change the laws to ensure the rate reduction takes immediate effect.
At Friday’s House Sitting, reports of the Social Security Board and the Central Bank are also scheduled to be tabled, along with proposed changes to the Representation of the People’s Act, which governs how politicians are elected.
Amandala tried to reach Prime Minister Barrow for his comments on Friday’s meeting, but when we contacted him, he told us he was unavailable and in a meeting. At press time, he had not returned our call.
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