A Momentous Occasion for Belize, Enter Blue Bond

The approval of the Blue Bond is indeed a momentous occasion for all, since the country’s external debt will be reduced by half a billion dollars, thanks to the new arrangement.  Lead Senator for Government Business, Eamon Courtenay puts it all into perspective.

Eamon Courtenay, Senator for Government Business

“Madam President, today on this motion and on the related bill, today is a day for Belize.  Let us remember the facts, because they are important.  We inherited a government with a debt-to-GDP of one hundred and thirty percent.  The government owed four point two billion Belize dollars, making us one of the most indebted countries in the world.  We inherited a government that was borrowing one million dollars a day to meet its expenses. We are here today proud to produce to this Senate a motion that calls for the death of the Super Bond and the rising of the Blue Bonds.  One: Madam President, the Super Bond will be erased from our history.  Two: public debt will be reduced by half a billion dollars and thirdly, we will establish marine conservation mechanisms to improve the protection and management of our seas and reefs and finance unprecedented, multi-decade conservation programs, proudly placing Belize in the forefront of marine conservation.”