I.M.F. report says G.O.B. must try harder

The International Monetary Fund has published its executive report following Article Four consultations with the Belize government earlier this month. Essentially the report confirms what most observes have long known, namely that Belmopan may be trying to reform its free spending ways, but if it doesn’t try harder there’s going to be trouble. To get Belize’s financial house in order the I.M.F. is recommending higher taxes, including the reintroduction of VAT, spending cuts, fewer development concessions, and liquidation of the D.F.C. Government, with precious little political or financial capital to spend, continues to sail as close to the wind as possible and chart a course of limited reforms, hoping to refinance its way out of its current problems and keeping its fingers crossed for new investments and better days ahead. For the full text of the report viewers can go to www.imf.org.