Economic reports on Western Belize Happenings parroted by IMF visit to Belize.

ARTICLE IN WEEKEND NEWSPAPER QUOTED RESULTS OF IMF STUDY FROM LAST WEEK VISIT.

The article more or less repeated the several economic article conclusions found on the WESTERN BELIZE HAPPENINGS blog. News and photos of Western Belize. The local economic reporter for the NEWS BLOG more or less had covered all the points made by the visit of the International Monetary Fund visit. Recommendations were the same.
One thing that could change the projection for next year 2010, would be if the Belize Government could arrange $500 million USD as a low interest loan at 1% to 2% with which to open a BIDDING MARKET on the International Bond Exchanges for the BELIZE BONDS. Start paying only as they use it to BUY BACK outstanding BONDS. About ONE BILLION is out in Bonds to cover this national debt. If such a loan was only payable if used, it would accomplish two things. The main one would be if it could replace the high interest on the outstanding Belize Bonds, with a low interest payment and secondly by BIDDING and opening a TRADING market for the BELIZE BOND and restricting BUY BIDS to less than 27 cents on the dollar, we would cut the size of the BOND DEBT a lot. The Bonds currently run out to 2029 with incremental jumps in balloon interest payments that are otherwise going to wreck the Belize economy, starting in 2010. Given a good bit of luck and immediate buy back of a chunk of the outstanding bonds, the lower interest due, would release anywhere from 25% to 35% of incoming tax revenues, currently spent on interest payments and be available to build the country of Belize infra-structure.
I wonder if our Finance Minister Dean Barrow has thought of trying mainland CHINA? China has TRILLIONS invested in no interest, TREASURY BONDS in the USA, as a place to park money reserves. If they were convinced $500 million could get even 1% or 2% interest, they would be better off and rescue Belize from the disaster caused by the previous PUP government. Such a low interest would be easy for Belize to make as we and our population grow. Perhaps even Kuwait, or Dubai, or Bahrain might be interested?