He was governor of the Central Bank for less than 5 months - and when Gustavo Manuel Vasquez was abruptly axed two weeks ago - he left with an ominous email to Bank staff.
He lamented, quote, "I tried my best to restore the integrity and operational autonomy of the bank and certainly faced stiff opposition from the Ministry of Finance and special financial and economic sector interests…I (will) take ALL necessary actions to defend myself and my reputation." End quote.
That was a shot across the bow for the government - and surely a warning sign to the IMF in Washington - where Vasquez had worked for 15 years. Now GOB and the Central Bank have moved quickly to mop up what could have been a messy affair. And, it ends with a tidy joint press release, which says, quote, "they have amicably and fully resolved all outstanding issues in relation to Mr. Vasquez's tenure as Governor of the Central Bank of Belize. Both the Central Bank and Mr. Vasquez acknowledge that, solely due to policy differences, it was in their mutual interest to transition from their professional relationship on mutually agreed terms." End quote.
And if that volleying of bouquets wasn't quite enough, there's a glowing send off from the Chairman of the Board of Directors, Sydney Campbell - who basically fired Vasquez. His quote says "The Board conveys its gratitude for the leadership, dynamism, and focus that Mr. Vasquez provided during his tenure as Governor..." End quote.
It's a bit much - and a bit mushy for the man who the Prime Minister himself characterised as someone who wasn't getting things done.
But, right on cue, Vasquez's part of the joint release moves away from the alarming tone of his departing email to say, quote, "to have collaborated with the Board of Directors, the highly capable management and staff at the Central Bank, and with other stakeholders in the Belize financial sector has been a unique and fulfilling opportunity." End quote.
And to put a cap on all that glad-handing…Government chimes in with its own release, saying, quote, "The Prime Minister assures the public that the government made every effort to align its policy objectives with those of the Central Bank of Belize under Mr. Vasquez's tenure, but unfortunately, policy differences remained." End quote.
Now, all this well wishing over a quite stormy and unprecedented departure can only mean that a settlement of Vasquez's lucrative 5 year contract was surely achieved.
7 news understands that senior counsel Godfrey Smith mediated the settlement of the dispute between the CBB and former Governor Manuel Vasquez.
No one is talking numbers, but informed sources say that it was likely in the upper six figure range. Government expects to name a new governor of the Central Bank of Belize soon.
