The land was purchased in mid-August; two months have passed, and up to today, checks by 7NEWS show that, up to this morning, Social Security has still not registered title for the 2,000 acres of land it bought from the Government of Belize.
As we've reported, Social Security took $6.8 million from a completed term deposit at the Scotia Bank and invested in the land purchase on Northern Ambergris Caye, in an area that has no access, no beach frontage, is largely swamp. The transaction was completed a week after Prime Minister Musa put a freeze on all private investments by the Social Security Board on August 8.
In September, Minister of State in the Ministry of Finance Jose Coye called the purchase "ill-timed." Social Security now owns 3,000 acres of land on Northern Ambergris Caye.