Bailout? Try Investment

Greater Belize Media | GBM Video Yesterday

Description

The debate over the government’s multimillion-dollar support for Belize Electricity Limited is growing, as BEL reportedly faces even greater financial pressure. Earlier this year, the government defended a $73 million investment in BEL, amid concerns that the money was needed to cover mounting debts to Mexico’s CFE and other operating costs. Now BEL is saying it needs an additional $20 million to meet its obligations to CFE and keep the electricity supply steady. So is it a bailout? Some might say it is, but the PM says, don’t use that word anymore: