BELIZE TO BE CUT OFF FROM PETRO CARIBE OIL?

* PETRO CARIBE throws curve ball with a spin to CARICOM countries. Their economies are soon to get a whole lot worse! Dean Barrow is Prime Minister of Belize and also currently Head of Caricom.
King Chavez with King Castro, as TYRANTS called Presidents of Life movement.


VENEZUELAN PETRO CARIBE OIL SUPPLIES TO BE CUT OFF FROM BELIZE AND THE REST OF CARICOM ?

At the meeting of Petro Caribe , Venezuela announced that the arrangement to supply oil products to CARICOM countries is in danger of being cut off. The deal was to pay 40% in cash for imports from Venezuela and the rest would be carried in a 25 year loan at 1%.

Venezuela says that the oil debt of CARICOM countries is very high and projections for five more years will mean that none of the countries will EVER be able to pay for what they owe. In some cases the National Debt of some CARICOM countries is 182% of GDP, meaning most CARICOM countries are basically walking bankrupt cases. Belize is included!

Unless something drastic happens, Belize will fall bankrupt starting in 2010, next year, in fact, if not in declaration. The debt of Belize is around 83% of GDP in the latest guess estimate and continuing to rise under UDP borrowing policies. The debt ratio has risen under the UDP from 72% of GDP to 83% of GDP in the best guess estimate. We have no actual statistics recently available.

Should Venezuela be at all surprised that most CARICOM countries NEVER expected to pay VENEZUELA for their oil products? Probably not? Venezuela started the discounted Petro Caribe oil program for political purposes. Those were to seduce as many CARICOM countries as possible to join the ALBA TRADE GROUP and thus sell out and sign away their international forum voting rights as part of the requirements of the joining of ALBA. Venezuela got three countries from the fourteen CARICOM countries to join ALBA and sign away their votes to the LEFTIST seven member bloc. This is seven elected Presidents that espouse a PRESIDENT FOR LIFE ( become TYRANTS ) program, in which they will do away with fair democratic elections, jail opponents and frighten away any argumentive middle class into exile.

It looks like Venezuela’s PETRO CARIBE have done a study of the progress of the success of this political progress with Petro Caribe and ALBA GROUPING PROGRAM and they have reached apparently a point of diminishing political returns. So it is time to put the best face forward as is possible and cut off the FREE OIL via loans that will never be paid back deal, and take what they could get. Which is three of the CARICOM countries transferring their international vote to the ALBA GROUP.

In the meantime, CARICOM countries now have a debt to Venezuela , they probably cannot pay and never intended to pay anyway. Interesting world we live in hey?