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Dec 12, 2016

Treasury Bills a License to Print Money?

John Briceño

A number of issues came up at Friday’s House meeting, which we didn’t cover because of time constraints. In addition to a supplementary appropriation bill, the Government for the third time this year brought amendments to the Treasury Bill Act, in this case juggling the amounts it can raise from the Central Bank. The plan is pay off the remainder of the B.T.L. Settlement Arbitration Award, worth about one hundred and eighty million U.S. dollars, and other bills. But Leader of the Opposition John Briceño raised objection, stating that the economy is weak and Belizeans have lost confidence in the Government’s management.

 

John Briceño, Leader of the Opposition

“This is very dangerous, Mr. Speaker. I know that the Prime Minister and now the deputy or the Acting Prime minister at this moment, they like to boast there is so much liquidity in the system, and that they could make use of that liquidity that’s in the banking system. First of all, they in effect are saying that Belizeans don’t have confidence in this Government; they don’t have confidence in how they have been managing, or in effect, mismanaging the economy. There is no economic plan. When the people in the productive sector have been crying out for help, be in citrus, or shrimp, or bananas, or sugar, or papaya, or the Free Zone, crying out that they need help for fresh capital; when we had three hundred and fifty million, almost four hundred million dollars of Petrocaribe where we were paying one percent interest, we could have used that money to try and help the productive sector to re-capitalize (Applause); but no, all they were interested [in] was to be able to get a third term, at any cost. Dehn di spen up the money – two point six million dollars on that San Lorenzo Road, Member for Cayo Central, Minister for Works; I want to take you there so how that look. Two point six million dollars; dehn di tief up the people’s money, Mr. Speaker.”

 

After interventions from Michael Finnegan and John Saldivar, the bill was passed. Government also passed motions for the RISE program and funding of a study for improving the Crooked Tree entrance road and causeway into the village.

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1 Response for “Treasury Bills a License to Print Money?”

  1. Abandoned says:

    How about the San Estevan to Progresso Road here in Corozal District??????. where is the paved road or the money.??????..please member of Corozal South East say something for the sake of these people that lives in these areas…. as the people believe they have been defrauded by the current Government…….

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