Government's information czar Nuri Mohammed today told a morning radio show that government has scrapped the plan to settle Universal's $33 million debt with a land swap for thousands of acres on Northern Ambergris Caye.
Well, the plan has been scrapped, but our sources say that it's the Belize Bank, not government that scrapped it.
Whatever the case, Mohammed indicated that government would get the money otherwise. But $33 million is not easy to come by, so where will government look? Well that's what we've been looking for. Best indications from senior government sources is that government will sell its 10% equity in the Spanish Lookout oil field.
Best information to us is that it will be offered as a sale to the public - "20 thousand Belizeans" will be the sales pitch. And according to Belize Natural Energy, how much is 10% equity worth? You guessed it! The $33 million Universal jackpot!
Again, it's just a proposal, but government must look at it closely because the Belize Bank wants its money, and government is convinced that it has to pay it all, and soon.
We'll be keeping you posted on how this new payout plan is developing.
