Posted: Friday, March 16, 2018. 4:30 pm CST.
The senators, at the debate earlier this week, conceded that the development is much-needed for the benefit of the tourism sector; however, with the alarmingly-high level of public debt, Belizeans simply cannot afford the project right now.
Business Senator Mark Lizarraga noted that the Financial Secretary signed an affidavit saying Belize’s public debt was at 100 percent of the country’s Gross Domestic Product (GDP). On that backdrop, Lizarraga said that he could not support the loan. Union Senator Elena Smith, and temporary NGO Senator Hilberto Romero all shared Lizarraga’s sentiment.
The only social partner senator who sided with the loan motion was Church Senator Ashley Rocke. The social partners also made mention that gob has already spent over $1 million on consultancies, and will spend another $9 million apart from the loan motion before the project’s completion.
Meanwhile, the government senators maintained that the loan was crucial despite the country’s debt crisis, and used their majority to push the motion through.
Advertise with the mоѕt vіѕіtеd nеwѕ ѕіtе іn Belize ~ We offer fully customizable and flexible digital marketing packages. Your content is delivered instantly to thousands of users in Belize and abroad! Contact us at mаrkеtіng@brеаkіngbеlіzеnеwѕ.соm or call us at 501-601-0315.
© 2018, BreakingBelizeNews.com. Content is copyrighted and requires written permission for reprinting in online or print media. Theft of content without permission/payment is punishable by law.
Comments