BOND CREDITORS FOR BELIZE ARGUE FOR HIGHER TAXES AND AUSTERITY, ENFORCED BY THE IMF

BOND CREDITORS GO TO IMF, ASKING THEM TO INTERVENE.  THEY SAY WHAT THE IMF REPORTS SAY AND WHAT THE BELIZE GOVERNMENT SAYS ARE DIFFERENT.  THE IMF REPORT SAYS BELIZE CAN PAY, BUT THE BELIZE GOVERNMENT REPORT SAYS THEY CANNOT.

CREDITORS WANT THE MUSCLE OF THE IMF TO DO THEIR JOB AND SLAP TAXES AND AUSTERITY ON BELIZE UNTIL THEY ARE PAID IN FULL, ALL INTEREST AND PRINCIPAL ACCORDING TO THE BONDS THEY HOLD.

THE BELIZE GOVERNMENT SAYS THEY WILL NOT ASK FOR AN IMF BRIDGE LOAN.  THEY ARGUE THE IMF RECORD HAS SHOWN OVER DECADES THAT AUSTERITY AND HIGHER TAXES DO NOT STIMULATE GROWTH.  QUITE THE CONTRARY, THE IMF COLLECTION SYSTEM DRIVES SMALL COUNTRIES INTO A SPIRAL WORSE THAN COLONIALISM ITSELF.