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Jun 26, 2020

Four Loan Motions Tabled in the House

John Briceño

At today’s sitting of the House of Representatives, four loan motions were tabled for approval, including the twelve million U.S. dollars from the I.D.B. for COVID-19 relief. The government had approached the I.D.B. for financial assistance for a programme to support minimum income levels for those affected by the coronavirus in the immediate period. A loan motion for fifteen million U.S. dollars was also tabled. That loan is from the C.D.B. and is to provide funds to assist the government to be able to meet its debt service obligations so that G.O.B. is able to preserve fiscal space and redeploy its financial resources to be able to finance immediate and essential emergency COVID-19 related health expenditure. The government is also borrowing one million U.S. dollars from the C.D.B. to assist sugar cane farmers in the north and a loan from the International Fund for Agriculture Development Bank Resilient Rural Belize Project for one point nine million dollars. Opposition Leader John Briceño called on the government for transparency and accountability for the monies being borrowed especially since it is an election period.


John Briceño, Leader of the Opposition

“The point is that any responsible government that wants to borrow a hundred and eighty million dollars three months before an elections would do or should do the right thing. They would ask the Belizean people for a new mandate. And it would be irresponsible of us in the Opposition to approve the borrowing of all this money just before an election. Madam Speaker at a press conference, the Prime Minister said he would grieve for the next government. Mister Prime Minister don’t grieve; leave. Call the elections now!”


Dean Barrow

Prime Minister Dean Barrow

“The Leader of the Opposition’s presentation was a tissue of dishonesty, confusion, a lack of understanding, a lack of ability—he had to read—and an absolute infidelity, unfaithfulness to facts or to any kind of coherence. I don’t know where he gets the figure from in terms of what he describes as the overall borrowing, a hundred and eighth mullion dollars. I don’t know where that figure comes from, in terms of what is before us. In any event, Madam Speaker, this particular motion has to do with fifteen million U.S. dollars to come from the I.D.B.  He hop scotched all over the place. He talked about the twelve million, this is coming from C.D.B.  He talked about the twelve million from I.D.B.  He talked about the supplementary appropriation. The latter two are also before the House and there will be a time to debate them.”

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