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Jan 15, 2013

Index of Economic Freedom: where is Belize ranked?

If you’ve been trying to remember the last time Belize was featured on some foreign list or by some rating agency in a positive light, you might not find many. Well tonight we have one that is not favorable. Have you heard about the Index of Economic Freedom? It’s an annual guide published by the Wall Street Journal and Washington’s premier think tank, the Heritage Foundation and it measures the economic success of one hundred and eighty-five countries. It’s based on a grading system using four main categories which are Rule of Law, Limited Government, Regulatory Efficiency and Open Markets. So where does Belize stand in the 2013 Index of Economic Freedom? Well, right around number one hundred and two, or in the grade system of the index, mostly unfree. According to the index, Belize’s overall score is four point six points worse than last year due to score reductions in nearly all of the ten economic freedoms that make the country’s decline the most broad-based in the 2013 index. The index continues that “Economic dynamism is constrained by institutional weaknesses that undermine prospects for long term, broad based economic development. In particular, the judicial system remains inefficient and vulnerable to political interference. Corruption, perceived as widespread, severely undermines entrepreneurial dynamism.” Belize is ranked twentieth of twenty-nine countries in the South and Central American regions.

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4 Responses for “Index of Economic Freedom: where is Belize ranked?”

  1. Storm says:

    OUCH! But it is undeniably true. We need change!

  2. Ricky Malthus says:

    We have been sounding this same alarm for several years now. But we only have to look closer and see that our economic will never get better as long as the CARICOM albatross is around our necks. Belize has surrendered its sovereignty to CARICOM since to make and implement any changes to our economy must be approved, first by said CARICOM. Visiting professor Dr. Bulmer restated this fact to Jules . We are an independent nation and we have to make decisions, especially economic and legal decisions which will give us the comparative advantage. We want to destroy the Guatemalan territorial claim to Belize. But what sense will that make if we succeed at ICJ , and then we hand over the country (the Jewel) to the Caribbean. We will become third class citizens in our own country. The only persons to benefit from CARICOM ascendancy will be those advocates of Black Power and haters of Spanish-Central American-Mexican trade. I hope Belizeans start to address this looming economic indicator problem.

  3. Louisville,Ky says:

    @ Ricky Malthus I was with you right up to the point where you let off some nonsense about Black Power and haters of Spanish/Mexican trade. Whatever…..
    Those of us who strive to uphold our dignity as a people refuse to go the way of the Uncle Toms, and will not be silenced or compromised even if it means continued economic pressure. You and I both know the deal, if you care to be honest, that is.
    This is why, Fidel and the Cuban people are Giants in my mind. Defiant down to the end!
    You got to have the courage of your conviction. If not…… you are just a wussey, a house …..!

  4. Bear says:

    If the Castro brothers were giants, why have so many hundreds of thousands risked death to escape Cuba? Utopian ideals, barbaric implementation.

    As for racism in the rest of Caricom, I’m afraid that is a sad truth. All of the other countries in the community are overwhelmingly black, with little need or experience in living in harmony with minorities like Indians and Hispanics — so they don’t get along. Belize is unique in Caricom, because it is a very diverse melting pot. I’m not necessarily saying Caricom is an impossible fit for the Jewel, but it is something to guard against. The bigger issue is, does Caricom membership benefit us, and what can be done to make it more worthwhile, or should we just leave it?

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