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Feb 6, 2013

Prime Minister juggles national issues

Dean Barrow

Prime Minister Dean Barrow has been juggling enough balls on a number of national issues. Most recently, the dilemma has been keeping the unions at bay while trying to re-structure the five hundred and forty-four million U.S. dollar superbond. Going into the meeting with union leaders last Friday, all eyes were on the leader of the nation because he made it clear that any salary adjustment to teachers and public officers would send absolutely the wrong message to bondholders at a time when they needed to be assured of the nation’s economic distress. But perhaps due more to timing than any particular dexterity, the Prime Minister keeps on juggling, with additional pressure from an I.M.F. Team that is in town.

 

Prime Minister Dean Barrow

“The IMF is here and of course the first thing they questioned officials about yesterday is what does this mean in terms of sustainability going forward. I believe we were able to answer their questions. We have not yet heard from CDB, which is far more important than IMF—the IMF isn’t giving us anything. CDB has promised to assist with our policy based loans to help us bridge the financing gap that will still remain. Because though, the proposal confirms the position that the raise cannot materialize unless we have the money to pay for it, I don’t think it will affect us going forward. We hope to conclude the restructuring process; at least in so far as the official launch is concerned by next Thursday. What may have been in jeopardy I suggest is financing from the IFIs—from people like the IDB and the World Bank and so on—but I believe that since it is quite clear that we are not going to tax people; we are not going to try to find money, pluck money out of thin air; the IFIs will be able to live with the formula that we have agreed so far with the teachers.”

 

With the salary adjustment issue just days from being pushed onto the 2014 list of things which may or may not happen, one of the biggest rocks blocking the road to successfully negotiating the superbond has been taken out of play.

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6 Responses for “Prime Minister juggles national issues”

  1. Rod says:

    Useless corrupt pm a nd gov the worse in the history of this nation

  2. Ricky Malthus says:

    Barrow must just resign as PM and Minister of Finance as he is clearly incompetent to govern and efficaciously spend our financial resources to wisely benefit all Belizeans. Barrow will never be able to balance the budget, pay the bondholders, pay the internal debts, grow the economy, be a leader to provide the grist to manufacture industries, to attract real investors and not those who come to steal our resources and beg for tax concessions and other fiscal and monetary easements. Barrow doesn’t have the qualities and economic skills to demonstrate to Banks that lower interest rates will cause them to have a greater monetary harvest. Barrow is not the man to show industries how to start to invest to increase employment and grow their businesses so the entire country benefits. Barrow is the type to go on bent knees to beg for concessions from creditors but is obdurate with Belizeans to obtain goods and services we have paid for. Barrow is ” Jancunnu” Hope I spelt that right. Barrow is a joke . Ha! ha! ha!

  3. Whappy says:

    “……The IMF isnt giving us anything” And I dont blame them. They can obviously see the detioration occurring in society, and want nothing to do with supporting a blatantly corrupt regime. So I guess the plan is to look bruk so that bondholders can feel sorry for GOB, and hopefully someone will give us some more handouts to squander.

  4. Louisville,Ky says:

    @ Ricky Malthus… If you think this man is doing such a horrible job and you can do better, why is he the Minister of Finance and not you?
    Dude….Am just asking!

  5. Bear says:

    I’d rather see Malthus running our cookie jar than the PM. No matter what you call it, bridge loan, bond, etc., it is still GOING FARTHER INTO DEBT. That enslaves the young Belizeans who will have to pay for these borrowings, and it will also cripple future governments because most of the money collected in taxes FOR GENERATIONS TO COME will be committed to repaying today’s stupid borrowing. It’s beyond stupid, it’s immoral, almost criminal.

  6. Louisville,Ky says:

    Then PUT, Malthus in charge of the cookie jar and stop ..itching and complaining.
    That’s whats wrong with Belize Kruffy…….all you do is moan and groan when solutions are sought but did Nothing, when the mess was created. Neekat!!

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