And, in another unexpected development, the PM on Friday confirmed rumors that we'd been hearing about a possible compromise between the Central Bank and the Belize Bank.
As we have reported, the Belize Bank is taking the Central Bank to court to block the implement of Policy Directive #7 - which should have come into effect on January first.
The effect of "PD 7" is that it would have lowered bank fees to consumers - such as the 50 cents per transaction which the Belize Bank charges its ATM customers.
The Belize Bank said that change would have made its ATM operations unstable and opened a lawsuit to block the police directive.
Well, it seems Government doesn't want any of that fight. Here's what the PM told Jomarie Lanza on Friday:
Jo
"And as minister of finance what is your position on the policy directive number 7 from the central bank of Belize? The Belize bank is challenging it in court and saying that it will not or cannot implement the reduction in ATM fees. Where do you stand on this issue?"
John Briceno, Prime Minister
"Well we have been meeting with both the Central Bank and the Belize Bank, the officials from Belize Bank and we believe that there would be no need to go to court and that we can and that we can to meet the objectives of the Central Bank and that's what we are working for."
Reports say the compromise may involved a more phased approach.
