It's likely that the Commission of inquiry will face a legal challenge from the PUP shortly, but until then, hearings are scheduled to proceed as planned on Tuesdays and Thursdays until the end of October. Today, the hearings continued at the BIM Office in the West Landivar area of Belize City.
Edwardo Torres testified in the morning session. He is currently a loans recovery officer who has to pursue loans that are non-performing. He was questioned for two and a half hours and discussed the huge and ever mounting portfolio of DFC bad debts that he would have to review on a monthly basis, and those loans that he was not allowed to pursue because they were politically sensitive.
In the afternoon, Gloria Reid testified. She is the assistant securitization officer who had to put together the money to meet the DFC's external debt commitments. She detailed how on a monthly basis she would have to swap in dozens of small loans and swap out huge ones, like the Novelo's loan which went into default.
In tomorrow night's newscast, we'll put the two days of testimony given thus far into context and try to guess at the broader strategy of the DFC commission as it develops its investigation.
