Ashcroft Telling Chamber & Rotarians That GOB Owes $33 mil for Universal

Michael Ashcroft is in town and he's telling everyone who will listen that government is liable to the Belize Bank for the Universal debt and will have to pay one way or another, one day or another.

Ashcroft attended the Rotary luncheon yesterday and made his case to Rotarians for government's obligation. Then yesterday evening, he met for an hour and a half with the executive of the Belize Chamber of Commerce where he again underscored that position.

The British attorneys for the Belize Bank have advised government that default interest of 17% per annum is accruing on the $33 million debt and will reach $55 million in 3 years.