Forbes Magazine wrote an article in 2001 describing Michael Ashcroft’s dealings in Belize. Forbes said that although Michael Ashcroft “was an avatar of free-market capitalism…when it comes to letting the nation of Belize choose their telephone company Ashcroft apparently has other ideas.”

The following are some interesting facts from the article. Some of these numbers might be outdated but we assume that not too much has changed.
1. BTL genereated pretax profit margins of 47%, almost double what US phone giant SBC Communucations makes.
2. BTL had $49 M is sales but paid out only $10M in dividends.

3.What BTL is doing to Skype is not new: they have a history of defying court orders that threaten their monopoly.
Glenn Godfrey, the former attorney general started a website that allowed Belizeans to circumvent BTL’s high international call rates. BTL blocked his site.
Godfrey obtained a court injunction to force BTL to restore access but they refused.

4. It cost $2.80 a minute to call the US from Belize. (According to BTL’s website it cost $1.20/min during peak hours and $0.80/min during off peak)
5. Ashcroft requested a 20 year extension of BTL’s monopoly in Belize that was set to expire in 2003. Did he get it?
6. Dean Barrow was a lead attorney for the Belize Bank owned by Ashcroft.

Reading this old article from 2001 gives little hope that any thing will change. Forbes quotes Ralph Fonseca Belize’s then minister of budget management, investment and trade, who said all he wants is a contract that introduces competition and new investment into the creaky Belize telecommunications system. “But,” he said, “in a small country, if you throw a lot of money at something, you never know what happens.”

Looking to BTL’s website :
“Established on May 29th, 2007, Belize Telemedia Limited is the largest business, telecommunications and multimedia company operating in the country of Belize with a book value in excess of US $100m.

Today this new and dynamic company boasts 33,500 fixed telephone lines, 130,000 cellular customers and 8,000 Internet customers, countrywide.

With more than 475 skilled and trained employees and 15 branch offices throughout the country, Belize Telemedia Limited is focused on developing, engineering and deploying state-of-the-art network and technologies in its aim to provide the best in communications and multimedia services.

The company is committed to expanding its present wire line, mobile, data and Internet services by bringing on-stream a wide array of first class services and products under each service portfolio. In addition, its high-capacity, high-speed network provides customers reliable, fast, dependable and premium service accessed locally, nationally, regionally and internationally.

Belize Telemedia Limited with its digital network in place will provide world class standard for mobile, data, and multimedia communications.

Corporate headquarters are in Belize City, with 15 customer service centers throughout the country. Telemedia is focused on expanding beyond the national borders thereby increasing shareholder value, developing new opportunities for employees and assist with the economic development and growth of the nation of Belize.”

The last line is especially hurtful: economic development and growth? Please.

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