Major economic issues including increasing access to financial resources discussed at the Inter-American Development Bank’s annual general meeting, Belize attends

Published by BBN Staff at March 23, 2021

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Posted: Tuesday, March 23, 2021. 6:39 pm CST.

By Aaron Humes: Belize joined its Central American partners to present four key requests of the Inter-American Development Bank (IDB) during its virtual Annual General Meeting, hosted from March 19 to 21 in Barranquilla, Colombia.

These are: implement financial instruments that provide liquidity to restore fiscal space; provide resources for the reconstruction and development of countries affected by natural disasters; study the viability to pay patent and manufacturing of vaccines in Central America; to develop an IDB concessional resource strategy for the provision of financial and technical support for the resilient recovery of productive systems in the Central American countries.

Prime Minister John Briceño represented Belize as one of the Bank’s governors along with Minister of State and alternate governor Christopher Coye; CEO Narda Garcia and Elvira Mendez, Counselor in the Office of the Executive Director of the IDB in Belize.

A government statement relates, “The expected outcome of these meetings is to build a case for an increase in the resources of the Bank to meet increased demand and to adopt a resolution instructing IDB’s Management and Board to conduct a rigorous analysis on the capacity of the Bank to support countries in the medium- and long-term.” It adds that Belize was joined by representatives from all Central American countries except for Panama to form a unified position to be advanced during the formal sessions of the Annual Meeting of the Board of Governors.

In his presentation during the session of the Strategic Vision of the IDB Group 2021-2025, the Prime Minister spoke of the imperative for the IDB Group to support our countries to implement a transformative agenda while having full regard to the core principles of access, equality, gender equity, integration, and most importantly, inclusion. In his statement, he also emphasized that the Strategic Vision 2021-2025 must include a comprehensive strategy on concessional resources to help countries develop a comprehensive climate change and natural disaster reduction strategy to foster resilience.

As strategic principal partner of the region, P.M. Briceno highlighted the principle of shared but differentiated responsibility between borrowing and non-borrowing countries, a principle that necessitates the pursuit of inclusion and special consideration of the poorest and most vulnerable countries like Belize.

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