The Belize Sugar Cane Farmers Association has been having a rough couple of weeks. First, they have not come to an agreement with ASR over the payment of bagasse and they were later notified that Fairtrade would only take a specific amount of their sugar for sale. The BSCFA, however, received some sort of alleviation after the Government of Belize announced that it write off an outstanding balance to a loan owed by the BSCFA, as explained Prime Minister Dean Barrow.
PRIME MINISTER DEAN BARROW
“Mr. Speaker this is the Belize Sugar Cane Farmers Association loan right off number two motion 14. Whereas a resolution was adopted by this honorable house on the 12 December 2013 approving the right off of the sum of Belize $2,866,835 payable by the Belize Cane Farmers Association under the sugar price stabilization fund and whereas the association has now informed the government that the actual balance of the loan has changed and that has shone in the 2011-2012 audited financial accounts of the association is in fact $3,702,378 and not $2,866,835 as previously intimated and has requested the government to write off the balance $835,543 and whereas the view of the association’s audited financial statements there is no likelihood that it would be able to repay this balance in the foreseeable future. Now therefore be it resolved that this honorable being satisfied that it would be in the public interest to promote the sugar industry and relieve the association from this old indebtedness hereby approve and confirm that the set remaining loan balance of $835,543 payable by the association be written off. This motion has the recommendation of the cabinet. ”