Moody’s debt rating downgrades Belize for 2nd time this year
In financial news tonight, there has been another downgrade in Belize’s credit rating. Moody Investors Service issued a very brief statement, saying it was downgrading the sovereign debt rating further into junk territory because government’s ability to service its debt is deteriorating. The credit rating plunged to Ca from Caa1 pushing it deeper into highly speculative territory. This is first downgrade since the March seventh general elections and prior to the national budget which is expected to be presented to the House in July.
What a surprise, GOB policies have us headed in the wrong direction. This downgrade means world bankers believe we’re headed toward greater poverty, not prosperity. And it means we will have to pay higher interest in the future.
We need foreign investment to create jobs, the Jewel just doesn’t have enough capital to develop itself. Bad credit will chase capital to other countries with better fiscal responsibility.
I suggest GOB retain some world-renowned economist with a proven track record of success to lay out a path to prosperity for the Jewel, now, before it is too late for another generation. I’ve read a lot of Milton Friedman’s works, and I wish he were alive to lead us away from the abyss now. Dr. Arthur Laffer and Dr. Lee Ohanian are the closest we can find today, I think. Hon.PM Barrow, please give them a call!
No good pm and gov. Worse pm in the history of Belize.
Honesty how hard is that?.Stop stealing the sovereign wealth that rightfully belongs to all belizeans,and empower our ambitious hard working people to prosper.Those who choose to stay in crime deal with them hard from top to bottom.Lazy bums dont expect handouts and so shall our country get back on its feet.