According to UDP's Michael Peyefitte, Courtenay also did not know that this deal is not fully consummated. At the UDP Press Conference today, He disclosed that Former Prime Minister Dean Barrow did not have time to sign an important SI, which formalizes the tax breaks contemplated in the agreement.
Here's what he had to say on the possibility that TNC may pull out of the arrangement completely:
Hon. Michael Peyrefitte - UDP Senator
"The Nature Conservancy is also interested in buy bonds of the Belize debt. The Nature Conservancy is interested in buying bonds from Belize, from the creditors of Belize. And The Nature Conservancy's position is this. They're saying that if we buy Belize's bond, if Belize is serious about conservation, we can buy some of Belize's bonds, and the amount of money you owe on your bonds that are controlled by The Nature Conservancy, you will be allowed to pay that portion of your loan in Belize dollars, which will be hugely beneficial for the country. That way, we would not have to find foreign exchange for that portion of our loans that we have out there. All of that is on the line. So, if Mr. Briceno signs it, the unions will have him. If Mr. Briceno doesn't sign it, the landowners will have him, and the Nature Conservancy will probably pull out of an excellent opportunity for us to benefit from one of the creditors that could be on our credit committee."
Hon. Patrick Faber - Leader of the Opposition
"We want to place on the record that we absolutely support conservation in this country, and that deal, as they termed it, was not 'nefarious' at all. It was is in the best interest of the Belizean people. So, we don't want to entertain the idea of the Prime Minister not signing."
Hon. Michael Peyrefitte
"If you look at Page 5, 2.0 of the agreement, it is one of the things that the government undertakes to do, to waive that stamp duty as it is authorized to do, under the stamp duties act. So, it is a part of the deal. So, if the Prime Minister doesn't, as Past Prime Minister Dean Barrow said that he would have, and future Prime Minister Patrick Faber said, if Johnny Briceno doesn't sign it, then that is a reason for the agency, the Conservancy, to say that they are backing out of the arrangement. We would hope that he would sign it, but it's up to him."
