Belize Times June 20, 2021- Plan Endorsed By the IMF

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The Belize Times

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THE BELIZE TIMES

20 JUN

2021

Established 1957

20 JUNE 2021 | ISSUE NO: 5254

The Truth Shall Make You Free

www.facebook/belizetimes | $1.00

ON THE RIGHT TRACK PLANBELIZE ENDORSED BY THE IMF

Hon. John Briceño, Prime Minister

Dr. Jaime Guajardo, Deputy Chief of Mission, IMF

The month of June has seen the PUP government of Belize get major plaudits from the international community. First, it was the bondholders agreeing to an extension on the grace period for the bond coupon payment and further negotiation on restructuring the burdensome Superbond. Earlier this week, IMF Deputy Chief of Mission, Dr. Jaime Guajardo gave the nod to John Briceño’s Home Grown Economic Plan, noting that the fiscal consolidation measures that have been undertaken are vital to reviving a moribund economy left by the UDP. Despite having similar features, the PUP’s Home-Grown plan is by no means as draconian as the IMF Economic Recovery Plan. Belize’s plan proposes four equitable pillars that consider the livelihood of all Belizeans and facilitating economic growth. An example of the differing views between our Home-Grown Plan and the IMF’s plan is that of the wage bill where the IMF is recommending a reduction of the ballooning wage

bill via wage freeze and mass retrenchment. In an interview with Dr. Guajardo, he commended the government in choosing to avoid the path of retrenchment and focusing on the reduction of the public sector wages instead, he touted that this approach was “appropriate and ambitious” for the current economic climate. It is important to note that the public workforce has increased by over 40% since 2018 without have a synchronous increase in economic growth. Locally, even the interim Leader of the Opposition, Patrick Faber praised the PM’s 4-point plan saying it is “a laudable and a good plan.” The confidence given by both the international creditors and the IMF is proof that the people of Belize chose well in giving the PUP a historically overwhelming mandate, twice in four months. The Economic growth plan has also been underway via increased exports in the agro-sector such as livestock, cacao and many

Friend Mexico Gifts Us 100,000 AZ Doses

Pg. 2 BELIZE SAFEST DESTINATION LVL 1

Nursing Scholarship Program 2021-2022 Pg. 8

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CRUISE SHIPS RETURN JULY 7

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Petition to Oust Patrick Faber Delivered

Two rejected UDP candidates delivered a petition to remove current interim UDP Leader Patrick Faber. Apparently and as reported, the petition reportedly has 290 signatures from only 26 constituencies of which three of them are represented in the House of Representatives. There is no word on the five remaining constituencies.

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CONGRATULATIONS! CLASS OF 2021

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