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Oct 3, 2012

P.M. says government does not need budgetary support from the IMF

Dean Barrow

The government audit exposes many inefficiencies and it would be one of many tools that an international organization would use to assess Belize’s ability or inability to pay its debts. The Prime Minister returned from meetings with the Inter-American Development Bank (IDB) and the International Monetary Fund on Tuesday. He hopes that the negotiating team would be able to work out a deal with bondholders by the end of November and simultaneously achieve a partial guarantee of the restructured bond with the IDB. But if the country should ever need serious budgetary support, is the IMF the type of agency that would bailout a bankrupt country? According to the PM, there is no need whatsoever to seek IMF assistance in that regard.

 

Jose Sanchez

“The IMF is more known for stringent measures; less government spending, increased taxes for example. Was there anything of this sort brought up during those meetings?”

 

Prime Minister Dean Barrow

“You are right, in the sense that if countries are desperate enough to need those bailout lines that the IMF provides for balance of payment support and perhaps general budgetary support, it is well known the IMF will attach very stringent conditionality’s to any such arrangements that countries enter into with them. We’re not looking for that. There is no need for that. We have a debt sustainability problem. We are, in the future, except we succeed in what we are doing, going to hit a debt wall. But with respect to the normal sorts of concerns that would provoke a request on the part of a country for IMF financial assistance, those circumstances don’t exist in Belize at all. And there is no question whatsoever of Belize needing or asking for any IMF assistance in that regard, so that was not on the table.”

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6 Responses for “P.M. says government does not need budgetary support from the IMF”

  1. Rod says:

    You make me sick barrow worse pm in the history of this country everyone the dead in the country and no word out of your mouth about all the murders in the country first it was men then children now women being murdered your principal job. Judas barrow if you didn’t know is to keep the citizens of his country safe that’s your job and you are totally failing terribly at your job you need to fire yourself for being so impotent on crime any other sane person would have resigned by now after 1.000.00 people dead how can you sleep at night knowing that because of you so many people have died you are one sorry person. Resign mein just resign you are pitiful makes me sick. March belizeans marchhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

  2. Uncle Benji says:

    Wise men learn more from fools than fools from the wise. The mistakes of the fool are known to the world, but not to himself.

    Barrow’s vanity and stupid making decisons will hurt Belize in so many ways. It is painful to see my country’s destructive path.

    “The ground of a certain rich man produced a good crop. He thought to himself, ‘What shall I do? I have no place to store my crops. Then he said, ‘This is what I’ll do. I will tear down my barns and build bigger ones, and there I will store all my grain and my goods. And I’ll say to myself, “You have plenty of good things laid up for many years. Take life easy; eat, drink and be merry.” ‘

    “But God said to him, ‘You fool! This very night your life will be demanded from you.”

    Barrow, Barrow, you steal private companies, you plunder our Belizean tax monies, you leave us indebted, while you continue to build bigger and better barns for yourself.

    Lord, why do you inflict Belizeans with so much pain?

  3. A Jew says:

    Agreed, Barrow has failed Belize miserably and he still acts like nothing is happening. Mein how much I am annoyed at his very optimistic approach to answering questions when he is really not answering. Be real Mr. PM how many more people have to die, how many people have to lose their houses, how many people will continue to lose their jobs, and how many people will spend days without eating food?? HOW MANY? While you take trips to all about and ignore all that is happening in Belize. In Belize only GOB ministers, officials, CEOs, Directors, Deputy directors are living the jolly life. They get tax free fuel for example we pay 13 dollars for the gallon of gas while they pay 5 dollars. The higher officials pay for no gas and just sign. And this is only one example. While the rest of us have to work hard to pay our debts, put food on our tables for our famlies etc.

    Thanks for making our lives much harder than it ever was.

  4. CONCERNED BELIZEAN says:

    Agree with Jew, all those CEOs, directors etc enjoying the jolly life because we as Belizeans do not make a stand, they all don’t care for our children’s future, I can tell you that when it comes to these people they were only waiting for the general elections to continue enjoying, we as Belizeans have this fault because we elected them back. This was a wise decision though so that they can remedy what they had done on the past five years now they don’t even know what to do, not wanting help from the IMF IS just showing us how arrogant this government is. Even if it hurst we all have this fault to allow this to contunue happening in our country.

    IT IS TIME TO MAKE A SERIOUS STAND!!!!!

  5. Common Sense says:

    Whoever this Uncle Benji is have some serious issues, and tha’s all I will say about this idiot. Victory for President Obama…

  6. Storm says:

    If UDP representatives are honest, they will gather and vote Barrow and Vega out of leadership. This regime needs to fall, the sooner the better.

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