CEO Osmond Martinez, “Belize’s Input at EU’s Biggest Forum is a Huge Deal”
Dr. Osmond Martinez
Prime Minister John Briceño led a delegation two weeks ago to Brussels, Belgium and then Lisbon, Portugal where they engaged in major presentations and panel discussions. For the first time in Belize’s history, a sitting prime minister has been invited to take part in the European Union’s biggest forum – the European Development Days. C.E.O. in the Ministry of Economic Development and Investment, Doctor Osmond Martinez feels that it bodes well for Belize, since the country has been able to benefit from over half a billion U.S. dollars in grants from the E.U. over the last thirty years. In addition to that, Martinez shared with our hosts on Open Your Eyes today that Belize was also able to get an audience with the European Investment Bank. He explained the significance of having this meeting.
Dr. Osmond Martinez, C.E.O., Ministry of Economic Development & Investment
“Presently we are having issues whereby, the way how inflation is being controlled or is being planned to be controlled, is by increasing the interest rates for countries and consumers. So for countries like Belize that are in the developing stage, and more importantly, whereby our interest rates are already high for investors and consumers, higher interest rates are not the answer to inflation. The European Investment Bank will look at options such as climate finance, to develop line of credits with DFC, three, to look as concessionary loans. When we look at concessionary loans, the interest rate might be like zero point zero one eight percent, less than point five percent. We also looked at opportunities to see how we can have more source of funds in financing at low interest cost for the private sector because the private sector is the one who should be driving our economic sector, not the government. The government is not an entrepreneur and it should never be an entrepreneur. The government is there to put the proper policies in place to enable a friendly environment for investors. So that trip was excellent.”
