GOB Seeks to Defer Payment on Taiwanese Loans

A raft of bills pertaining to existing loans that the Government of Belize has with banks in Taiwan was brought before the House of Representatives on Tuesday.  The Briceño administration is seeking to defer payments on these debts in order to save money over a two-year and three-year period, respectively.  Prime Minister John Briceño, who introduced the motions, says that Belize will benefit from immediate cash flow relief.

Prime Minister John Briceño

“Today we have ten loan motions concerning the Republic of China (Taiwan) that we’re tabling for approval. These are not new loans. What we’re doing is weighing the terms of existing loans to provide Belize with much needed cash flow relief. See, Madam Speaker, the government through its bilateral economic cooperation and development program with Taiwan has over the years benefited from several loans to assist in the development of Belize. Nine of these loans are with the Export/Import Bank of the Republic of China, totaling a hundred and ninety-one million dollars, and one is with Mega International Commercial Bank with a balance of forty-six million dollars. What we are now doing is to improve the government’s fiscal position and provide critical cash flow relief.”