After a flight delay, the Prime Minister is expected to return from Caribbean Development Bank meetings in Venezuela this weekend. His return is much anticipated because there's some speculation as to whether or not he got a solid commitment on the US$25 million policy based loan that the CDB promised.
As we have reported, the CDB committed to that concessionary loan late last year. But that was under the fiscal regime of former Financial Secretary Dr. Carla Barnett. Now, after her abrupt departure in the middle of the Universal guarantee scandal, there has been some speculation about whether the CDB is still prepared to assist Belize with a policy based loan. Government needs at least half of that loan to meet its financing requirements for this year's budget.
In related news, 7NEWS has received credible reports from government insiders which say that the Prime Minister will announce Cabinet portfolio re-assignments next week. This comes after Ministers Mark Espat and Cordel Hyde were fired on May 22nd for failing to support the Universal bill, a bill which was later withdrawn from the National Assembly.
