Wednesday, February 23, 2011 Capital Weekly Page 1 Capital Weekly From the Heart of the Nation to the Soul of the People

No. 006 Wednesday, February 23, 2011 Price: $1.00 Black Friday! Superbond Swallows $33 Million More!

t struck again last every time it’s time to pay, find the money to service Friday, we will have a lot to say. the voracious Super Bond. Iand just like that, it This time though, we’ll “The semi-annual swallowed another 33 leave most of the talking to payment that was due last Million. No, we’re not a man who has no political Friday was in the amount talking about a giant shark. axe to grind. He’s telling it as of 16 Million US dollars We’re talking about a super it is; and he certainly knows (33 Million ) ,” the bond—the Super Bond! exactly what it is, as he is Financial Secretary informed. Some want us to forget it, the Financial Secretary, who “So, double that for the year namely those who created it; has the unenviable job of 2011, and we have to pay an but we can’t, we shouldn’t assisting the Prime Minister Joseph Waight average of 32 to 33 Million and we won’t forget. And, Financial Secretary and Minister of Finance to Continued on page 6 DFC gets money from CDF PM Barrow Signs Loan Agreement for US $3 Million

See Story on Page 17

Prime Minister signs for Belize CEO Lorne McDonnough signs for CDF Page 2 Capital Weekly Wednesday, February 23, 2011 The Consumer Protection Joke Editorial Don’t Laugh Out Loud! The War Has Just Begun! -Contributed immune to any of the Have you ever wondered why dominated the media circle over it is that most gas stations refuse to the last few weeks. I had a friend fleshly tendencies that sell a gallon of gas in a one gallon of mine call a local butane provider inherently accompany container, or who checks the meter to his home to pick up his gas absolute power. to ensure that it is accurate and that tank. The company truck came to consumers are not being short a pint pick up the tank half an hour later, For this reason and or two? How can you tell if you are he ordered $20.00 gas. About an the aforementioned—the being sold premium gas, and not hour later the truck returned with a regular, when you purchase it at the fact that the evil forces, driver and a helper, who installed gas station, or do you do a taste test the tank and left. Traditon, right? though battered and on the gas that has been pumped Let me tell you: wrong! The fact is divided, are bound to into your car? that my friend lives in the Belama How is it that Cable Companies Phase Two, which is approximately coalesce at some point who we all know illegally pirate 3 ½ miles from where the butane and in some form around signals from US Satellites, legally provider has its office and depot, so Delroy Cuthkelvin their unholy agenda— charge you a fee in Belize for we are talking a distance of 7 miles. Chairman, Editorial Board servicing your home with a signal If you were to add in the cost of the UDP would do well that has been illegally acquired? fuel, plus the service provided, plus he political to not bask too much in Do you ever wonder how it is the payment to the two workers, tell climate in Belize that you keep buying clothing and the glorious sunshine of me if you should have $20.00 worth these days is, foot wear at those exorbitant prices in pounds of butane in the tank and T sustained political fortune, at the local stores when the whole not an ounce less, and if so, which in our view, a very tricky but rather to keep itself country knows for a fact that what one of you “Business Saints” would one. From all indications, you are purchasing are actually want to run that company? It just grounded and girded as if “seconds”, clothing and footwear the PUP is extremely does not make any business sense. the real war is just about to that did not meet the standards If one were to take a taxi-cab to and weak and irreconcilably and are sold as junk (cheap by the begin, for indeed, it might from the same address it would cost divided, while the UDP manufacturers). How is it that a minimum of $14.00. just be. you , the consumers, pay name If I were to continue listing is exceedingly strong, A key factor in the brand prices for inferior products the massive irregularities and especially in the North which are labelled as such on the whole equation is, of outright crookedness within the where the PUP Leader custom entry; and why, after all so-called ‘Business Community in course, the predatory these decades, has no one found it Belize’ which mercilessly rapes the resides and runs. British Billionaire who has news worthy. Incidentally made in pockets of consumers, we would As we noted some the US does not mean made in the be writing a book. Sorry Jules, axes abundant to grind. U.S.A. weeks ago, without a strong you’ve scored no coup. Your job Grind he will, and when he There was a time when we has only just begun. So get up boy, opposition, even the best as a country ethically banded the grinds, money pours, not grab your camera and microphone of governments will tend importation of products and goods and let’s work off some more of by the penny, but by the from countries that allowed factories those pounds. (LOL). And to all to become complacent. pound. He did it before engaged in promoting forms of you ‘angels’ involved in business That’s just human nature. ‘slave labour’ to manufacture (in 1998) and he certainly in Belize, don’t act surprise and But the UDP would do well products. dumbfounded. Do ‘the Hollywood’ would like to do it again. Have you ever wondered why and just pretend to be concerned. to doggedly resist such This time, of course, cigarettes, which are stamped for Shhhhhh! tendencies and, in time of importation into the country, like the prospects (for him and Benson & Hedges, are actually the peace, so to speak, prepare the PUP) are not nearly imitation being sold legally at your Capital Weekly for war. local shops and supermarkets, and as promising. What’s From the Heart of the Nation how it is that no one said anything? Though weak and To the Soul of the People increased substantially, Who is making a killing from divided they might be, though, from then to selling imitation cigarette which is there is a very good reason been packaged in someone’s back- Published By: now, are the stakes. Back why the forces of evil are yard? Roots & Rhythm Ltd. then it was merely about The fact is that consumers in 15 Gibnut Street bound to coalesce, in some a company; this time it’s Belize have been taken for a ride for Belmopan form or fashion, in time for decades. Taking everyday Belizeans about an entire country, for a ride is called “business in the next general elections, about its very sovereignty Belize” and is considered the norm Editor & Business thereason being that the here. That is why there are so many and Sales Manager: and the soul of its people. stakes are simply too high. big businessmen and women who Wilbourne Cuthkelvin For the UDP, then, as are millionaires in this country. There is no doubt in our goes the old tried and Some of them have become so large Chairman mind that the UDP’s core that they sit on the board of directors tested adage, it’s better Editorial Board: philosophy has been and for the banks and other lending to be safe than sorry. A institutions. Many own majority Delroy Cuthkelvin will continue to be a noble battle or two, perhaps shares in our ‘piratized’, not and patriotic one. But like privatized, former national assets. Telephone: even three, might well be Frequently, they are members of 610-1284 any earthly being or human over, but the war has only the most ethical, church-attending organization, the UDP is Chamber of Commerce in Belize. just begun. Email: delcutvin@ Now let me come to whole neither incorruptible nor yahoo.com whoopla about butane that has Wednesday, February 23, 2011 Capital Weekly Page 3 Lee Mark Makes Big Move First Chinese-Belizean Standardbearer

Party Leader Dean Hon. Barrow, , Some of the Hundreds of Supportive Residents Hon. Patrick Faber and Hon. Anthony Martinez man who has caused this country of 15% on investment and/or the so much pain and sorrow. This waiver of taxes in default. By Vernon Cuthkelvin issues, the replacement of another present P.U.P Representative is And so; the history of representative due to the then un- the same man who with the stroke representation rocked with presidented public tongue-lashing of a poisoned pen signed-on to disgrace, upheaval, shame, The Belama Park was flooded he regularly delivered to his own the now infamous Settlement corruption and outright greed is by a sea of red t-shirts, pants, rags, at its end as Lee Mark Chang and hats and flags on Sunday February the U.D.P Committee have been 20th. consistently on course to bring The event was the U.D.P much needed stability and true Freetown Endorsement Convention representation to Freetown. Over for Lee Mark Chang. Lee Mark the last two years, two major became the care-taker for U.D.P in disasters affected the area which Freetown approximately two years both creating tremendous flooding ago. He, along with an extremely and damage to many properties active Executive Committee in Freetown. On both occasions embarked on the task of bringing Lee Mark and his committee true representation in the form were the first to respond on the of quality service to the people ground, handing out pre-cooked of Freetown; a service which has meals along with dry goods while netted remarkable results. assisting with housing repairs. But first, let’s look at the There was no water for the political historical aspect of people in the Belama Phase 4 Area Freetown over the last several Party Leader Dean Barrow and Lee Mark Chang for decades; Lee Mark provided decades. The United Democratic party in various forms of the Deed, the consummation of the water to the residents of that Party has not won the Freetown media while his colleagues widely secret Accomodation Agreement area on a daily basis until he Constituency since 1989. That is circulated that he had to step down handcuffing the government and successfully lobbied BWSL to some 22 years ago. Since then the due to questionable immigration people of Belize and giving install a standing pipe. Everyone Constituency has been through a matters and corruption. Ashcroft the green light to will readily remember the debacle Bi-Election for the replacement of Over the last eight years the gouge out their eyes and tear out regarding the lack of electricity a representative that was deemed Freetown Division has had to the flesh of the hard working, in the Belama Phase 4 Area of unfit to serve in the House of cope with the shame of being unsuspecting Belizean taxpayers Representative due to financial Continued on page 13 represented in the House by a by guaranteeing a rate of return

Lee Mark Chang with His Parents at the Convention Hyacinth Lacthman, Lee Mark Chang and Anthony Martinez Page 4 Capital Weekly Wednesday, February 23, 2011

PRESS RELEASE

BWEL STANDS BEHIND GOOD BUSINESS ETHICS

February 17, 2011: Belize Western Energy Limited (BWEL) first entered the Belizean market and LPG sector some 20 years ago. Over the years, we have grown with the Belizean community and have now uccessfully expanded our services countrywide with distribution centers in all major towns and cities. Our company’s growth would not have been possible without the assistance, support and trust of you our valued customers.For this reason, we place a high premium on offering trusted service, value for each customer’s investment and establishing high standards and ethical procedures for ourservices and product delivery protocols. BWEL stands by its customers and its commitment to high professional and ethical standards. Our company’s guiding principles emphasize fairness and offering quality andvalue for our customer’s money, as well as high safety standards. For the past years, we have progressively demonstrated our commitment to fairly serving our lients,guaranteeing quality and implementing all policies that will see not only to the service of our customers but the professional and ethical development of the LPG industry for Belize and Belizeans. With that in mind, we have always diligently pursued several company protocols and initiatives. These include: Α. Established safety protocols at our distribution centers. Β. Established a complete schedule and rigorously implementing that schedule for quality assurance, operations and maintenance for all our plants and distribution centers. Aside from these internal procedures, we have been pursuing and will pursue other initiatives to continue to demonstrate our good faith and commitment to professionalism in our operations. C. Continuing to work with local energy providers and business partners like BNE and the Government of Belize to establish a LPG sector that will offer quality and significantly more affordable LPG to our customers and the entire Belizean market. D. Establishing a program that allows the client to witness the service and quantity of the product being pursued E. Working with the Bureau of Standards to not only build on our internal quality assurance as well as operational and safety mechanisms and programs, but as well in establishing protocols for the entire sector that will ensure quality, value and safety in product and service for the Belizean people. F. An official invitation has been issued to the Bureau of Standards to visit our LPG depots countrywide to do their own inspections for quality & safety compliance. We continue to refute any attempt to malign our company and we are pursuing legal advice to ensure the restoration of our company’s good name and image. We have worked successfully with Belizeans from all over the country to build a reputation and product that is of high quality and service that is fair and ethical. We will not stand by and allow any media house to injure our good name. We thank you, our clients, customers and business partners who have stood by us over the years, and we assure you that our service and operations have been worth your confidence and trust.

BWEL “Energy is the Difference” Wednesday, February 23, 2011 Capital Weekly Page 5 More Math Fever SSB Olympiad Goes North Belize Adventist College, Belize High School of Agriculture, Bishop Martin High School, Corozal Community College, Escuela Secundaria Tecnica Mexico, Linda Vista High School, Muffles College, New Hope High School, Orange Walk Technical High School and Sarteneja Cornerstone Christian Academy. The next regional competition will be for the Central A and Corozal Community College in the heat of the battle for the Championship Central B Regions will be held at the St. John’s The North Regional as the North Regional College are Arhenis College Gymnasium on Competition of the Belize Champions with an Camal, Nader Charaf, Wednesday February 23, Math Olympiad was held outstanding score of Otoniel Riverol and 2011, at 8:30 a.m. and 1:30 last Wednesday at the 4999 points. Corozal Bertina Lopez. Muffles p.m., respectively. Multi Purpose Complex Community College now College who led the game The Social Security Building in Orange joins Belize Christian up to match two but did Board acknowledges the Walk Town. The packed Academy and Julian Cho not get the final question, phenomenal show of support Complex resonated with a Technical High School to stayed in second place by the respective schools cheering audience during compete for the National with 3199 points. today and encourages all the entire game. At the Championship which will the remaining schools to sound of the final buzzer, be held on March 9th in Ten high take part wholeheartedly in Corozal Community Belmopan. Representing schools competed at the the upcoming competitions. College gained the title Corozal Community Northern Regionals:

Northern Regional Champions Corozal Community College posing for the Cameras Page 6 Capital Weekly Wednesday, February 23, 2011

BELIZE SOCIAL INVESTMENT FUND Black Friday BELIZE MUNICIPAL DEVELOPMENT PROJECT Superbond Swallows $33 PROJECT STAFF – Administrative Assistant STATEMENT OF CAPABILITY Million More! The Government of Belize (GOB) has applied for financing from the World Bank (WB) towards the cost of a municipal development project to improve and maintain municipal service delivery in selected towns of Belize. The project comprises small-scale infrastructure improvements; capacity building for the municipality councils; technical assistance to central government in municipal management; and project management and administration. GOB has appointed the Belize Social Investment Fund (BSIF) as the implementing agency for the project. It is intended that part of the proceeds of this financing will be applied to contracts for consultants to enhance the capacity of BSIF through the establishment of a Project Implementation Unit that will be responsible for project implementation.

BSIF is seeking to recruit an individual to fill the following position, the critical minimum requirements for the position is Administration Building in Belmopan housing Ministry of Finance listed however, applicants are asked to view the detailed terms Continued from page 1 US per year to about 51 or 52 of reference: US per year (BZ$ 66 Million). Million per year, and it will Administrative Assistant The interest rate on the remain so for the rest of the life bond currently is at 6 percent, of the bond. . An Associate Degree in the Arts or but in August 2012, the interest Although the bond is due Business Studies rate rises to 8 ½ percent, at 2029, repayments on the bond . Three years experience in the required which time the interest payment in fact begin in 2019, spread field will increase from 33 Million Continued on page 7 The consultancies are expected to be for an initial period of twenty- OAS Scholarships Advertisement four (24) months commencing in April 2011. BSIF now invites individual consultants interested in undertaking the assignment to submit their Statements of Capability. In The Government of Belize (GOB) is now taking appli- submitting their Statements of Capability, applicants should be cations for the Organization of American States (OAS) aware that they will be assessed based on the following areas: 2012 – 2013 Scholarships to do Bachelors, Masters or Doctorate degrees. (a) Qualifications (b) Experience of the individual relative to the particular assignment Candidates should have a GPA of 3.2 or above and (c) Availability of Candidate for the proposed consultancy choose a field within the Priority Subject Areas estab- period. lished by GOB and OAS. The terms of reference for the assignments can be viewed on- All applications must first be completed online using line at GOB’s official portalhttp://www.belize.gov.bz or can be the website www.oas.org . Three (3) copies of the requested from [email protected]. completed application must be delivered to the Min- istry of Foreign Affairs, NEMO Building, Belmopan, One original and two (2) hard copies of each submission in the th Belize Attn: Mr. Percy Lewis or Ms. Ardel Sabido by English language must be delivered by 3:00 pm on 4 March 2011 to: February 25, 2011. Executive Director The application package includes the Application Belize Social Investment Fund Form (8 pages), three (3) Recommendation Letters 3rd Floor, PAPI’s Building (using the OAS form provided), Transcript/s (authen- Constitution Drive ticated), Diploma/s (authenticated), Certificate of Belmopan City Language Proficiency and/or TOEFL Certificate, SAT Belize or GRE (whichever is applicable), School Acceptance Letter (for self-place applications), Medical History The sealed envelope containing the Statement of Capability Form and Résumé. must include the name and address of the applicant and should be clearly marked “Statement of Capability: Administrative Assistant, Belize Municipal Development Project” Feel free to call 822-2167 or email either percy.lew- [email protected] or [email protected] for an BSIF shall not be bound to assign any reason for not selecting application checklist. any applicant and will not defray any costs incurred by the applicant in the preparation and submission Wednesday, February 23, 2011 Capital Weekly Page 7 Sports Update With Ismael “Miley” Garcia participated in the elimination matches leading up to the championship. He also recognized 2010’s male champions Bishop Martin RC Primary from San Ignacio and female champions St. Martin de Porres RC from . The Minister urged the athletes to compete aggressively, but fairly, as IIIsmael “Miley” Garcia friends, since it is possible that National Sports Coordinator the best players from among Ministry of Sports these teams may someday The National Primary form the base of a future Gold Schools Basketball Medal Team for Belize. He Competition, organized by exhorted the young boys and Hon. John Saldivar, Minister of Sports Conveyed an inspiring and motivational message to students the National Sports Council, girls to strive to be the best participating in National Primary School Basketball Championship was held this week at the and to dream about bringing Belize City Center. Invited glory to the jewel. At the end legitimacy of last year’s FFB will work in Belize City on to be the Guest Speaker for of the competition Bishop elections continued it work Wednesday February 23. the occasion was Minister of O.P. Martin RC from San this week. The Committee Interdepartmental Sports, Hon. John Saldivar. Ignacio repeated as National interviewed persons of interest Dominoes Competition in Though he was not able Male Champions and Holy from the Belmopan and Cayo Belmopan is now down to to be present, the Minister Redeemer RC of Belize City Football Districts in Belmopan five finalists and the final four sent a positive and strong became female champions on Tuesday, February 15. will be decided this Tuesday, message to the competing 2011. (Belmopan is considered a February 22 at the Police athletes. In his message the In other Sports News football district by itself, even Training School Canteen at Minister congratulated the the Sports Investigation though it is geographically 6:30 p.m. All are invited to eleven participating teams, Committee 2010, in the ). On witness this exciting domino reminding them that they were commissioned by Statutory Tuesday February 22 the tournament as it winds down all CHAMPIONS, because Instrument signed on Investigation Committee will to championship for the grand they were the finalists from December 31 by the Minister travel to the Corozal and $2000 dollar prize. among 1400 athletes that of Sports to investigate the Orange Walk Districts, and Black Friday Superbond Swallows $33 Million More!

Continued from page 6 over ten years; we pay one tenth every year until we pay it off. So, in 2019, we have to pay interest and principal. Principal will be another 56 Million US Dollars. So in 2019 we have to pay 110 Million US Dollars on the Super Bond. And that kind of payment continues until the end of the

Continued on page 11 The kind of resurfacing of highways that could be done countrywide were it not for the Superbond Page 8 Capital Weekly Wednesday, February 23, 2011 Central Farm Revitalized Minister Patrick Faber Tours UB Campus

Cornith Morter Lewis, Carol Babb, Jacqueline Willoughby, Hon. Patrick Patrick Faber and Chairlady Hon. Patrick Faber, Imani Morrison and Doctor Holder Imani Fairweather Morrison checking out sweet peppers It’s been quiet but steady, the revitalization of the UB Campus at Central Farm, and on Wednesday of last week, Minister of Education Hon. Patrick Faber got a firsthand look at Just the facts! the progress made as he and his team from the Ministry Tropical Gaming Company of Belize Limited shares some of Education teamed up with the Chairlady of UB Quick Lotto facts: to tour the facilities. Directing the tour was none  The Lotto Jackpot prize has BEEN AS HIGH AS other than Doctor Gordon Holder, the mastermind and $182,500.00 commander, if you will, of the restoration operation.  Lotto contributes to the Belizean economy in several While on the tour, UB’s Chairlady Imani Fairweather material ways: Morrison, speaking with Beverly Phillips of the  It pays 12.5% of its gross sales to the Government! Press Office, recounted how excited they were when Doctor Holder came to them  It pays Business Tax. with a five year plan to refurbish and restore the  It pays commissions to its agents: campus, as in their view, it was indeed time to bring back the glory days of Central  It withholds & remits to GOB 15% Farm when it represented from all prizes paid out! such great potential and promise to the development and growth of Agriculture for  It paid a total of $1,474,519.00 in prizes last year! self-sufficiency and export. She said the University wasted no time approving the budget for it. That five- Lotto: year plan is, of course, now well underway. Easier to understand! While on the tour, Easier to play! Minister Faber had the honour of officially Easier to win! inaugurating a lunch room for the staff, as well as a gym and guest house, which are Look out for some more Lotto facts next week! all part of the restoration and Continued on page 9 Wednesday, February 23, 2011 Capital Weekly Page 9 Central Farm Revitalized Minister Patrick Faber Tours UB Campus

Hon. Faber mixing cement with a student at Central Farm Hon. Faber receiving gift from a student at Central Farm Continued from page 8 revitalization plan. The Minister also visited a recently established computer lab, food DEPARTMENT OF TRANSPORT processing lab, as well as Belmopan Bus Terminal, City of Belmopan, Belize C.A. the areas where chickens, Tel: 501- 822-2038 Fax: 501- 822-3317 pigs and sheep are being reared. Following the full E-mail- [email protected] tour, Minister Faber shared with Beverly Phillips PUBLIC SERVICE ANNOUNCEMENT his impressions of the refurbished and revitalized campus. The Department of Transport advises members of the public “It is indeed a wonderful of the following aids to traffic safety:- impression,” he remarked. “I had not realized that all 1) Put on lights when travelling on roads at night of this was going on at the University of Belize. and during early morning, late evenings and Of course, I knew about the plan, but to actually conditions of dust, mist, fog and rain. come and see it in action now was a wonderful treat. As we moved around the 2) Don’t drive on the wrong side of the road campus, I knew some people might not be aware that there are some older buildings on this campus. 3) Don’t overtake going up a hill or any incline What Doctor Holder was able to do in terms of refurbishing them and making 4) Don’t over take when you cant see clearly ahead good use of everything here was an excellent idea, and I think it’s is something that UB Central Farm has to be 5) Try to stop driving in the middle of the road proud of.” The UB Campus of Agriculture currently has an 6) Make sure vehicle rear lights are working enrolment of 38. In addition to livestock, several crops are being grown, including watermelon, cantaloupe, 7) Heavy equipment, houses and other oversized items cabbage, soy bean and peppers. cannot be transported nor can big farm tractors and other farm equipment be driven on roads after 6:00pm. Page 10 Capital Weekly Wednesday, February 23, 2011

The Transport Board hereby serves notice to all interested bus operators of the available schedule now in the Northern Zone as detailed below. Interested Operators are hereby encouraged to submit Road Service Application to any of the Department of Transport Offices Countrywide no later than Monday 28th February, 2011. (Ministry of Transport, Communications and National Emergency Management)

NORTHERN ROUTE - BELIZE CITY TO SANTA ELENA FINAL FEBRAURY 16, 2011

NORTHERN ROUTE : SANTA ELENA TO BELIZE CITY FINAL FEBRUARY 16, 2011

Continued on Page 11 Wednesday, February 23, 2011 Capital Weekly Page 11

NORTHERN ROUTE : SANTA ELENA TO BELIZE CITY FINAL FEBRUARY 16, 2011

Black Friday Superbond Swallows $33 Million More! Continued from page 7 really constrains you from your period for completely paying off investment program, constrains the bond which is 2029.” you from your support to social The annual payments of services. Because you owe, you 220 Million which we will have to have to pay. It’s a sovereign debt, make in those last ten years are we have to pay it whether we like the equivalent of 20 percent of the it or not. It’s like a house rent; you country’s current annual budget, have to pay that first, and then you Mr. Waight explained. see what else you have left to do Even as it stands today, he everything else. And so, it really said, the 33 Million semi-annual puts you in a straight jacket, so to payments (66 Million annually) are speak.” an enormous challenge: Continued on page 12 “That is almost equal to three months of salary for the entire public service. It’s almost like you have another big Ministry to support. It’s a priority claim on your resources. The moment we make one payment, we have to start saving money to make the next one in six months time. It really ties your hands, and it frustrates you not being able to do other investments, especially in the social services; the money that goes to the super bond could otherwise go to education or health or rural development; so it really puts you in a handcuff. What happens really is, because you owe, that takes priority over your other spending, and it Imagine how many more roads could be paved like the Placencia Road were it not for the Super Bond Page 12 Capital Weekly Wednesday, February 23, 2011 Continued from Page 11 Black Friday Superbond Swallows $33 Million More! Continued from page 11 And, lest we forget, the Financial Secretary reminded us it’s a burden that will remain with us for a very, very long time: “It’s for life and beyond, so to speak; it really is a burden on your children and your grandchildren,” he said. As to any prospects of positive development that could bring any easing of the pain in the foreseeable future, the Financial Secretary had this to say: “The hope is that we will have growth, and we will have some improvements in our economics, which will make it a little less of a hard pill to swallow. But even so, it’s going to be a major, major hurdle in front of us. The hope is that we can improve our economic position to a point where we might be able to go back out and re-finance it and borrow parts and pieces at better rates to pay it off, so we can borrow perhaps at a lower interest rate to pay off this high debt. To pay it off all in one lick would be a real challenge. If we find more oil, maybe we would be in a good position.” Finally, for some background on the super bond, how it came about and what it really is, the Financial Secretary stated: “The super bond is the name given to a government of Belize bond that is due to be paid in 2029. The amount of the bond is 546 Million US Dollars and it is an amalgam, a consolidation of a number of smaller loans that were all put together into a new bond in early 2007. Continued on page 18 Wednesday, February 23, 2011 Capital Weekly Page 13 Lee Mark Makes Big Move First Chinese-Belizean Standardbearer the first ever alcohol-free, family oriented Endorsement Convention. The day was filled with speeches, entertainment and excitement with children enjoying their bouncy-jump to teenagers receiving fancy facial paint while adults attentively listened and cheered the various messages delivered by an all-star host of Guest Speakers. The Master of Ceremony was the Hon. Dough Singh who is also a resident of Freetown. The Welcome Address was delivered by Lee Mark’s Campaign Manager; Kenworth Tillet, while the Vote of Thanks was given by the UDP Freetown Chairman, Lee Mark Chang Flanked by Freetown Chairman Wilmot Wilmot Simmons. Speeches were Simmons and supporter Barbara Miller of Airports Authority delivered by the Prime Minister; Hon. Dean Barrow, the Party Chairman, Continued from page 3 Committee in Freetown who lobbied Hon. Patrick Faber, the Minister of for the paving of the Juliet Soberanis Housing, Hon. Michael Finnegan, Freetown Division; Lee Mark Street along with the upgrading and the Minister of Works, Hon. Anthony lobbied Belize Electricity Limited installation of culverts and proper ‘Boots’ Martinez, and Lee Mark until electricity was provided for the drainage for Albert Hoy Street. Chang who officially moves from hundreds of residents in that area. Lee Mark lobbied the Minister being care-taker of Freetown to UDP Along with the assistance of the of Police to fast-track the reopening Standard Bearer. Hon. Patrick Faber, Lee Mark has of the Belama Police Sub-Station. The day ended with many A very young supporter been successful in assisting many It must also be noted that the residents taking home prizes won students with school books, tuition, revolving cleaning project instituted at the convention, which included Mark and the UDP Committee uniforms and school related grants. a year and a half ago has seen over flat-screen TV, stoves, refrigerator, in Freetown, that Lee Mark will His committee has maintained a a hundred vacant lots de-bushed and cell-phones, fans, washer, bicycles become the first Belizean of Chinese steady school-assistance program decent to enter into the House of in order to help families who are Representatives. Notably, in the less fortunate with the day to day last General Election, Hon. Elvin expenses of sending their children to school. Penner became the first Belizean No one can forget the mess which Mennonite to enter into the House. was created by the People’s United Both these gentlemen will represent Party at the Lands Department. the United Democratic Party in the Freetown certainly had more than its next General Election. share with the triplication; in some In the last General Election, the cases, of land approval letters for PUP won the Freetown Division by the same piece of land to different a narrow 16 votes. Since then this individuals. Lee Mark worked hand candidate supported by a strong in hand with the Hon. to Divisional Committee along with address this urgent matter and in less Lee Mark amid Hundreds of Supporters at Sunday’s Convention the assistance of various Ministers of than two years secured proper land Government and, most importantly, documents for the residents while maintained, keeping the Freetown and several elegant dining for two the love and commitment of the resolving the many land disputes in neighbourhoods clean. certificates courtesy of Chon Saan residents of Freetown; has created that area. In celebration of the afore- Palace. a new safe seat for the U.D.P. The Hon. Anthony Martinez mentioned reasons; hundreds of There is no doubt in anyone’s and his Ministry of Works were of supporters and well-wishers from mind that as a result of the continued (Some Photos provided by tremendous assistance to the UDP the Freetown Division flocked to hardwork and dedication of Lee Ruben Campos of O.W)

Lee Mark poses with the nation’s future, the children Lee Mark embraces two more proud supporters Page 14 Capital Weekly Wednesday, February 23, 2011 “The Truth Shall Make You Free” “Get It Right Before You Print!” - Miles Tropical Energy to Belize Times

Friday February 18, 2011

The Belize Times Ms Carla Bradley #3 Queen Street Belize City, Belize Central America

Ms Bradley:

I am writing to set the record straight concerning your headline “Fronting for Foreigners All Along?”, and the related article in the Sunday February 20, 2011 edition of the Belize Times. As Director of both Miles Tropical Energy Limited and Paradise Energy Limited, I must take issue with the content of the story. Shareholders own shares in a company; they do not own the company. I own shares in a rather large major oil company, but I would never claim to own the company; the most I can claim is being a shareholder. Firstly: “Encircled areas shows oil concession blocks granted to Kimano Barrow”; The Production Sharing Agreement (PSA) was awarded to paradise Energy and not Kimano Barrow. It was never a secret that I or Oren Miles were involved in Paradise Energy, and if you would have been diligent in your research with the public records at the Belize Companies Registry, in Belmopan, you would have seen we acted as Directors at the initial formation of Paradise Energy Limited. Secondly: Further you stated that Kimano is a shareholder in Miles Tropical Energy Limited. No, he is not, never has been, nor will he ever be. Thirdly: Erubiel Ku is a Belizean Citizen

Best regards,

Alenn L. Saum President Miles Tropical Energy Limited

THE GET INVOLVED CAMPAIGN

Restore Belize has launched the “GET INVOLVED!” campaign. It is an appeal to our people in all spheres - business companies, business firms, sole proprietorships, professionals, workers, artists, any and all who can contribute in the fight against crime. We ask you to GET INVOLVED! On the 14th of February 2011, Valentine’s Day, two schools and one student were formally adopted by a company, a law firm, and a concerned individual [who adopted the student]. These are symbolic of the need to GET INVOLVED and relate to a particularly critical component not only of the campaign against crime but the drive to reduce and eventually eradicate deprivation, poverty, helplessness, depravity and indiscipline so that all people and residents in Belize can live and move about in peace and dignity.

Any Company, Firm, Business, or person wishing to adopt a school or student please contact Restore Belize as follows:

Telephone: 223-2269 or 223-096 Email: [email protected] [caps not necessary for email] Wednesday, February 23, 2011 Capital Weekly Page 15 Belize Salutes Escuela Latino Americana de Medicina By Adalbert Tucker and admiration. The world however is in great need represents the finest and most enhance our contributions to of and welcomes good enduring values of the Cuban growing global humanity. examples for emulation in revolution and universal Over 150 Belizean our ongoing journey to ethical culture. It is a veritable students are currently studying triumph of the human spirit in ELAM.There are more than rehumanization. over adversity, reminiscent 50 graduates of whom 13 are The Global of the Mambises’ elevation of pursuing Second Specialities Positioning of Solidarity by spirit over fatigue during the in Cuba. All Belizean students ELAM -a repository of Care intense Cuban Independence have the right ,once graduated, and Humanity is a beacon of struggles. to pursue 2 Specialities in hope and encouragement to Belize has not only Cuba of their choice .The struggle for equity freedom Adalbert A.Tucker observed but have had the whole program is free of and the reclamation of Ambassador for privilege of participating in cost and the doctors pursuing human dignity in the twenty Foreign Trade, Head of this great human endeavour Specialities are paid for first century . International Cooperation, . We have been a proud services rendered in Cuba It is both a privilege and Government of Belize beneficiary of this generosity during their studies. an honor to share reflections and cooperation and as a In a world under on ELAM and to encourage consequence we continue to continuous onslaught there An inspiring example appropriate recognition and grow our resolve to embrace are few events or processes of Global Solidarity and a worldwide dissemination of and care for our people, to that can inspire and continue Repository of Care lessons for humanity. And Humanity! renew our empathy and to to hold our imagination

The unbroken struggle of See CAPITAL WEEKLY Online in Living Colours at: the Cuban people for more than half a century has continued to BelizeNews.com/CapitalWeekly inspire peoples worldwide. Cuba’s dedicated global service and health care to the poor and marginalized has won much deserved acclaim and grudging recognition even from its enemies. Its principled determination to sacrifice and share notwithstanding the more than fifty years of blockade and continuing interference have placed Solidarity and other human values deep in the consciousness of the Post Cold War world. In 1999 this dynamic process crystallized into one of most remarkable undertakings in an already historic era. The launching of Escuela Latinoamericana de Medicina (ELAM) a major international medical school in Cuba and a prominent part of the Cuban Health system . Possibly the largest medical school in the world by enrollment with 10,000 to 12,000 students from 27 or 29 countries in 2006/2007, the ELAM undertaking is truly breathtaking in scope , in the For more information visit your Belmopan City depth of compassion and commitment to improvement Council Offices at 36/38 Trinity Bld., Belmopan of human condition worldwide. Or call: 822-2271, 822-2319 or 802-3679 Indeed ELAM Page 16 Capital Weekly Wednesday, February 23, 2011

Left to Right: Mr. Samer Akil, CFZ Director, Mr. Raul Rosado, Chief Executive Officer, Mr. Baha Ozgur, Princess General Manager, Mr. David Akierman, Executive Chairman, Mr. Jose Romero, Director CFZCC #1 Freedom Avenue, Corozal Free Zone Phone: 501-423-7010/30, Fax: 501-423-7029/7225 P.O. Box 167, Corozal Town Belize, Central America

PRESS RELEASE

The Corozal Free Zone now boasts of an independent fire service, owned and maintained, by the Corozal Free Zone Management in conjunction with the Corozal Free Zone Chamber of Commerce.

The Corozal Free Zone, through this medium, expresses a very sincere gratitude to Princess International Limited for their kind contribution of Bze$10,000.00 towards Fire Service initiative. Gestures like these are essential for the upkeep of a service that is beneficial to all.

The Corozal Free Zone, through a Memorandum of Understanding, counts with a very close and good working relationship with the private sector through its Chamber of Commerce. It is joint efforts like these that have materialized the establishment of the fire service.

Having amenities like these is conducive to attract foreign investment. Wednesday, February 23, 2011 Capital Weekly Page 17 DFC gets money from CDF

hat, if any, are the real benefits of W belonging to the CARICOM family of nations, is a question that has often been asked by Belizeans. Well if hard currency to invest means anything, CARICOM might not be a bad idea after all! This past week, the Belize Government entered an agreement with the CARICOM Development Fund (CDF), making our country the first to benefit from the newly established fund. A handshake of trust and friendship following the signing of the US $ 3 Million CDF Loan The agreement is for a US $3 Million loan, to be The agreement was growth, may be constrained that this CARICOM entity channelled through the DFC. signed in Belize City on by capacity limitations. is indeed a far-flung one. So These funds will be Monday, February 21, 2001. Conscious, therefore, that we’re happy for the signal that made available for on- Signing on behalf of Belize a chain is only as strong as it sends; we’re also happy, lending to the Belize private was Prime Minister Hon. its weakest link, heads of Lorne, because from time to sector for activities such as Dean Barrow, and on behalf government of the CARICOM time Belize feels rather hard- improving Belizean Firm of the CDF its CEO Lorne determined that for all of us done by, and it’s nice to know competitiveness, upgrading McDonnough. to benefit from the integration that in terms of the CDF, we or replacing plant and Mr. Mcdonnough process, all must equally have have been the first; we have equipment, re-tooling or commented, “The signature the opportunity to participate. been placed first with respect re-training the workforce, of this cap is historic. It The CDF remit therefore to the operationalization of funding project development represents the first tangible represents a conscious and the CARICOM Development or innovation, achieving intervention the CDF is sustained effort to ameliorate Fund.” In addition to this line ISO or HAACP standards/ making in furtherance of those impediments which limit of credit, the CARICOM certification, improving its mandate to strengthen national potential as well as Development Fund will cohesion within the to address the dislocation marketing or carry out market also provide grant funds to assessments in CARICOM CARICOM Single Market emanating from the CSME the Development Finance markets with a view to and Economy, the CSME, implementation.” Corporation for the introducing or increasing the in accordance with article Prime Minister Barrow, for engagement of consultancy trade in goods and services to 158 of the revised Treaty his part, remarked, “I’m very services to assist in procuring an appropriate Management those markets, and financing of Chaguaramas. It is happy that, both for symbolic significant that the first and practical reasons, Lorne Information System; to projects in the services the Ministry of Economic cap to be signed is with the and the CDF have chosen to sector, including the creative Development to assess, advise, industries. northernmost CDF member make Belize the first partner develop and implement a Those who can benefit from state, underscoring the with which an official signing functioning Management the funds are entrepreneurs commitment of the community ceremony is taking place. I Information System to and groups in Environmental to deepen integration with all take your point completely support its Public Sector Investment Programme; Conservation, projects with member states. that because of where we are, and to the Belize Trade and We are aware that the the symbolic significance Foreign Exchange Savings/ Investment Development Caricom member states have Generation potential, is extremely important. It Services (BELTRAIDE) Agro-processing, Organic different capacities and/ indicates at the practical for the development and Farming and “Green” or endowments, natural or level the commitment of the finalization of a Policy on Projects, Alternative Energy, otherwise. Similarly, we are CDF to serve all the member Micro, Small and Medium Manufacturing, Eco-Tourism aware that the private sector, states effectively because, Enterprise. and Cultural Arts. the proverbial engine of notwithstanding the fact Page 18 Capital Weekly Wednesday, February 23, 2011

Continued from page 12

Actually it comprises Black Friday! about twelve or thirteen Superbond Swallows $33 Million More! earlier loans that were consolidated, restructured in a sense. The principal amount was reduced a little, and interest payments were stretched over a period of almost 22 years.” “Super Bond” will, of course, be back in six months for another giant bite, and so will we to remind you how onerous it is and who created it. We cannot forget, we should not forget, and we certainly will not forget! Imagine how many more bridges could be built like the Middlesex were it not for the Super Bond Peruvian Ambassador Presents Credentials The Ambassador of Peru Colville in turn thanked the to Belize, His Excellency Mr. Peruvian Ambassador for his Antonio Pajares Paredes kind words and assured him today presented his Letters that his Letters of Credence will of Credence to Governor- be forwarded to Her Majesty General, Sir at the Queen at the very earliest Belize House in Belmopan. opportunity. His Excellency Paredes Ambassador Paredes also said that he felt extremely paid courtesy calls on Minister honoured to have been of Foreign Affairs and Foreign appointed to such a Trade, Hon. distinguished post and serve and on Prime Minister, Hon. such a beautiful and charming Dean Barrow. Ambassador Antonio Pajares Paredes meets PM Dean Barrow country such as Belize. Sir

Honorary Consul for Peru Rene Villanueva, Ambassador Pajares Paredes, Governor General Sir Colville Young and Diana Locke Wednesday, February 23, 2011 Capital Weekly Page 19 Superbond Strikes Again! Another 33 Million Gone!

Said Musa, the man who carried the , the man who ran the Mark Espat, the Architect of the Johnny Briceno, was Musa’s Deputy name of Prime Minister when the country’s finances, first as Minister of Superbond, now wants to be Leader, Prime Minister, now wants to be National Debt got out of hand Budget, then as Minister of Finance but has serious intra-party difficulties Prime Minister Last Friday, February 18, 2011: The Government and People of Belize had to find $33 Million to make another instalment on the repayment of the Superbond left behind by the last PUP administration. (We must continue making similar payments every six months) August 20, 2012: We will have to find$47 Million as the interest jumps from 6 percent up to 8.5 percent (similar payments every six months) August 20, 2019: Repayments go up to $110 Million every Six Months (220 Million a year), as we start making Bullet Payments on the Principal, while continuing to pay off the interest February 20, 2029: By the time we’re finished paying off the Superbond, it would have cost us $1,588,590,700 (1.5 Billion with a B) We Can’t Forget The Past When We Are Paying In The Present And Will Continue to Pay in the Future Page 20 Capital Weekly Wednesday, February 23, 2011