Co-Op, A Fish Out Of Water But Staying Alive

Tonight, the Northern Fishermen Co-op is staying alive - even if only on life support.

The Belize Bank has not moved in on them - because - according to our sources - the Central Bank has agreed in principle to have the Holy Redeemer Credit Union buy over the multi million dollar loan. But, before that happens, a number of strict pre-conditions in institutional governance have to be met - and that may take a while.

For the time being, the Co-op has reportedly been given some funds to stay afloat - while the details continue to be worked out. We'll keep following it.