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Jul 1, 2016

PUP Says the UDP is Fostering a Perfect Economic Storm

John Briceno

Apart from claiming that the half-a billion dollar payout for B.T.L. is a deal and a victory, the Prime Minister has gone on record to say that they will not have a difficulty making the first payment of two hundred million dollars. According to Briceño, the P.M. may not have a difficulty making that payment, but Belizean taxpayers certainly will.

 

John Briceño, P.U.P. Leader

“We’re going to show exactly how the government has been raiding the Central Bank – just having the Central Bank just printing money so that the government can be paying their bills. Our debt is going to go up, our cost – because we have to pay interest, is going to go up. The liquidity in the system is going to be sucked out because the government is taking that liquidity out of the system, so that when the time comes for the economy to try to rebound they are going to find themselves in trouble because there’s going to be no liquidity in the banks, and that then could have an even worse effect for us in the years to come. Our foreign currency reserves are being drained. As we know, sugar is in trouble, citrus, bananas, shrimp…all of those – the Statistical Institute of Belize pointed out yesterday that our economy shrank by 2% in the first quarter, so we are getting less foreign currency. What we are having is that we are setting up ourselves for a perfect storm. All of these are going to converge and it can create havoc in our economy.”

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1 Response for “PUP Says the UDP is Fostering a Perfect Economic Storm”

  1. MNHG says:

    Ay Mr. John Briceño, mein… you dI go aan like you no see I mi get mi lee ham fu xmas, A mi hav fu vote fu him, and next thing , da mi paaty , we you wan we do ?
    Why you too rough wit me lee boys them? You no hea “THE BEST IS YET TO COME” ?
    Slow it down Mr. John Briceño, you wa cause pressure pan mi lee buays dem heads !

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