Prime Minister John Briceño announced today that the Government of Belize is seeking to delay the referendum on the Cannabis and Industrial Hemp Control and Licensing Bill.
Briceño told the media today that the decision to seek a delay in the referendum follows a meeting that Minister of State in the Ministry of Finance Chris Coye held with the Belize Bankers Association. In the meeting, the banking sector raised serious concerns about the effect that the marijuana industry will have on Belize's banking relationships abroad.
Briceño said that the concerns, coupled with the $5 million price tag on holding the referendum, prompted the government to seek ways in which the referendum could be delayed, as the Referendum Act does not make such a provision.
He added that the Attorney General had been asked to review the laws to see what can be done.