Posted: Sunday, March 14, 2021. 1:15 pm CST.
The views expressed in this article are those of the writer and not necessarily those of Breaking Belize News.
By Joe Awe: I don’t think Public Servants nor teachers’ salaries should be cut without something else organized…I am a teacher so one would think I am just merely protecting myself but hear me out.
In a shocked economy such as ours – horrific spending of the past government over the past 13 years, scrambled with the pandemic over the past year, – we may all have to do something to save our economy from complete collapse (all the pundits playing politics on social media will bawl even more should a complete collapse occur – but we won’t hear them because they won’t be able to afford internet should that collapse happen).
The best entrepreneurial options seem to always win in a shocked economy. Take a look at Amazon – horrific economy, the best economic year for them. We cannot allow that with our banking system here in Belize.
There is a pandemic of misunderstanding with our people who run to the “fast cash” tables when they feel like their worlds are collapsing financially and the horrific prices they have to pay back hurts them even more than if they just managed their circumstances a little while longer. Then, it’s also questionable why and for what reasons they make the decisions to make those high-interest loans, especially in dire economic times. So, with this out of the way, let us get to the point.
IF teachers and public servants would get a salary cut (and everyone else) then the GOB must sign an order (or whatever it is that GOB does under these circumstances) that the banks must comply with. My suggestion: 1-2 years payment of only interest on loans. The third year, payment of interest and 50% of the principal. Then back to normal year 4. Perhaps that’s asking a lot from the banking institutions, perhaps, as this would affect interest on savings and loan outputs. But if we are going to fix this, we will all have to bite the proverbial bullet to save this intubated economy of ours.
(Disclaimer: I have read many books on the economy but I am not an economist. BUT if this starts a conversation around the dinner table, fantastic! We are on our way!)
Touch lives. Change the world
Аdvеrtіѕе wіth thе most visited news site in Веlіzе ~ Wе оffеr fullу сuѕtоmіzаblе аnd flехіblе dіgіtаl mаrkеtіng расkаgеѕ. Yоur соntеnt іѕ dеlіvеrеd іnѕtаntlу tо thоuѕаndѕ оf uѕеrѕ іn Веlіzе аnd аbrоаd! Соntасt uѕ аt firstname.lastname@example.org оr саll uѕ аt 501-601-0315.
© 2021, BreakingBelizeNews.com. This article is the copyrighted property of Breaking Belize News. Written permission must be obtained before reprint in online or print media. REPRINTING CONTENT WITHOUT PERMISSION AND/OR PAYMENT IS THEFT AND PUNISHABLE BY LAW.