Minister Coye Calls NTUCB’s IMF Boycott Unfortunate

Two weeks ago, the National Trade Union Congress of Belize fired off a letter to the International Monetary Fund, informing that the umbrella organization was boycotting all further consultations with the financial institution. The N.T.U.C.B. stated that its reason for shunning the I.M.F. was because it was simply being used as a checkbox. The congress wrote, “we are deeply troubled by the negative recommendations towards hard-working public sector workers, teachers, police, doctors, nurses, firemen, etcetera The negative impact that the I.M.F.’s interventions have had on the working class, economies, and people of developing countries within the Caribbean and Latin American Region is of serious concern”. Today, Minister of State in the Ministry of Finance, Chris Coye said that the union’s decision was unfortunate.

 

Chris Coye, Minister of State, Finance

“The IMF tries to have as broad a consultation as possible as it goes through its Article 4 process. In order to put together it’s concluding statement, that concluding statement it provides insight as to how the economy is performing,  how the government is doing  how the financial sector is doing and, what,  they see is likely to occur in the future. So it’s important to become as informed as possible from as many stakeholders in the economy as possible. It’s unfortunate that that meeting did not happen so that the NTUCB could give their, views and opinions. But nonetheless, the work has to go on and ultimately the IMF will produce their report.”