Still a Long Way to Go to Reduce Belize’s External Debts

According to Salas, while the initiative is the hallmark of sustainable human development and relieves a significant portion of Belize’s crushing external debt obligations, there is still a long way to go to restoring the country’s overall fiscal balance.

Osmany Salas

Osmany Salas, Belize Network of NGOs

“We must support any initiative that will result in substantial debt relief and a substantial relief of the debt burden, the massive debt burden that our country is faced with.  So this is one of those, [it is] innovative and it will do a whole lot of good to this country.  We still have, we will still have a big portion of that debt that is currently represented under the super bond remaining but I believe the blue bonds initiative cuts that to almost half.  So over time that will be huge savings to the country and, by extension, to the people of Belize because that’s so much less that we would have to pay over time.  So it is a huge step and, I mean, the government is in a situation where it has to figure out how to deal

whole lot remaining.”