Universal's Debt to DFC Reduced from $12 million to $4 million

And while all the fuss and urgency has been about squaring away Universal's debt to the Belize Bank, what about its $12 million debt to the DFC? Again, that's one that the taxpayers will have to pay, if Universal does not.

Well today the Prime Minister confirmed to 7NEWS that Universal is getting that debt written down substantially. According to the PM, it has been agreed that $12 million debt be written down to $4 million. That's a 66% discount, but according to the Prime Minister it's simply a matter of deducting $8 million in interest and leaving the principal figure of $4 million.

That's what the Prime Minister says, but according to every document and every source we could contact - that principal figure is $12.145 million. That would mean that government has consented to write off 66% of the principal. And of course, with a DFC write off, what is written off doesn't just go away, government is still liable for the rest, and government's money is taxpayer's money.

from a friend...


Bwai, aye wish seh aye mi gat wahn Banka like DFC whe wuuda rite aff all ah di pasdue intres fimi nuh. Tuh Gawd nuh 8millian dallah eena bakpay whe due tuh di pippl ah belize dehm jus seh,'nuh whori bout dat, tek it affa di buuks nuh". Di way whe aye figah it dat dah bout tutty tree dallah fi ebri belisian whe di haspital waakwhe wit.