Barrow's First Budget

August 2008 | Risk Summary

The new government of Prime Minister Dean Barrow said that when it took office earlier this year it was aware of a US$10mn Venezuelan grant to Belize negotiated by its predecessor, of which US$9mn was for housing loans and US$1mn for upgrading a sports complex. However, it says it received, the day after it took office, a letter from Venezuela asking it to account for a US$20mn grant - believing initially the US$10mn discrepancy had been a typing error. But Venezuela confirmed the grant had in fact been for US$20mn, not US$10mn. At the end of July former president Said

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