It also contains a confidentiality clause which says that the terms of the agreement cannot be disclosed by government without first getting written approval from the Belize Bank. Barrow said that he's been reviewing confidentiality documents and he's never seen one quite like this.
Hon. Dean Barrow,
"There is a general principle of confidentiality with respect to bank transactions. But that is normally in favor of the customer, not of the bank. In this case the government of Belize is the customer, they are the ones giving he guarantee to the bank. It strikes me as most peculiar that there should be a confidentiality clause which says not that the bank shall not disclose the government of Belize's business but that the government of Belize shall not disclose its own business except if it first gets a written consent from the bank.
If it a document that contained trade secrets of the Belize Bank you could understand how there might be a claim as to privilege, as to protection. But it is absolutely nonsensical for the government to try and hide behind this particular provision in the document and certainly to try and hide behind section 31 of the Freedom of Information Act. In my view, a court would have no difficulty in ordering the government to publicly disclose this so-called guarantee.
Ladies and gentlemen it is time that the government stop playing games. This document in its entirety needs to be disclosed, needs to be made available to the public and that needs to be done like yesterday."
This evening Cabinet's Public Finance Committee had a meeting where Barrow's press conference and government's reaction to it was discussed. No word yet on what countering strategy, if any, will be pursued by government.
