Intelco staffers are up in arms after their mid month paychecks had still not been paid up to the end of business today; a full week after payday on the 15th.
It's a dire situation for the 120 staffers who are now being told that they will get paid by Friday the 25th of June, 10 days after payday. It's only three days away, but that's hardly a consolation for employees who have their own pressing financial obligations to meet. But those we spoke to say they have no choice but to hold on, hoping the company somehow makes a recovery.
Intelco continues to languish without interconnection or any significant revenue stream. And while its debts are considerable, one debt it doesn't have to worry about is the U.S. $13 million borrowed from the International Bank of Miami which government is paying monthly in U.S. dollars. It's an arrangement where government pays the U.S. bank in hard currency for phone services Intelco provides in Belize. But what happens if Intelco can no longer provide those services? Well, the paper at the bank says government is responsible for the debt.