Friday, October 28, 2011


Old economic figures for the Belize Debt to GDP ratio, back in March 2011, about 7 or 8 months ago, was 74% thereabouts.

Now if this is true? Then at least to MARCH of 2011, the UDP party in control of the one party government in Belize, with no meaningful OPPOSITION PARTY has done very well in maintaining the level of debt that Belize has. Much of the debt, mainly the SUPER BONDS are not allowed to be cashed out. So Belize is burdened with around $65 million a year in interest rate pĂ yments, is as I understand it. With a working revenue budget of around $850 million in revenues. Would be available to update this data if we could get it out of the TOP SECRET CLASSIFICATION by the Government Minister of Finance. Alas, he will not do so. We have been complaining for the three years he has been in office. Frankly, nobody knows what to believe anymore. If this is true, it is unlike our PARTY LEADER controlling the government would classify this economic knowledge TOP SECRET CLASSIFICATION ( he is also Finance Minister! ). So, we would view this number as SUSPICIOUS! The reason being, if the number at 74% was true, he would be bragging all over the place of his achievements, since he is steadily borrowing. It would be indeed a positive, proud thing to brag about. Holding the TIDE back so to speak. He isn´t bragging, therefore I highly suspect he is lying and manipulating the economic data. After all, our Prime Minister, party mafia don, is no shrinking violet, when distorting and making seemingly bad things, seem like heroic deeds he is responsible for.
Maybe I mistakenly divided out the percentage of debt, by wrongly reversing the numbers? In which case the Debt to GDP ratio would 171% of GDP? Which makes more sense?

One of the simplest things the Central Bank of Belize can do to have a positive impact on the GDP and to serve the unbanked is to
allow mobile money.

If Digicel-Scotiabank brings its SMS‐based money transfer system that allows individuals to deposit, send, and withdraw funds using their cell phone to Belize it could be good for the GDP . Similar systems with the permisssion of the central bank has worked wonders in places like Kenya.

Jamaica is working on a mobile money policy framework. I think the Governor of the Central Bank should take a look at mobile money as it relates to Belize.

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