no_imageWeeks ago the International Monetary Fund, IMF, issued its Article Four Consultation Report. In that report they speak of a decelerating economy in Belize amid increasing external vulnerabilities which could result in more taxes and retrenchment. The release of this brazen IMF report raised concern for Belizeans and today Citizens Organized for Liberty thru action COLA, issued a release placing the blame on GOB for the dire economic conditions that is being faced by our country at this time.

According to their release, COLA attributes the IMF report which speaks of an imminent crisis and a widening of the fiscal deficit based on settlement of a loan to BTL, an increase in the wage bill and a ‘large overrun’ in capital expenditure as well as rising public debt, to the irresponsible spending, arbitrary and arrogant nationalizations and very suspect decisions at the very highest level of political office.

COLA also makes a direct call to the Government to respond to the Belizean people in regards to the IMF report and the current economic crisis that our country faces and make an official statement on the critical points raised by the economic experts at the IMF, stating Quote “Clearly the IMF is recommending increase in taxes and retrenchment as the ‘ONLY’ way to rescue a hemorrhaging economy, yet the Government has remained silent, leaving the Belizean public in a state of uncertainty.” End quote

According to COLA, this current predicament that we are facing is just the beginning as another great decision is coming soon which legal experts say may be as much as half a BILLION dollars for the acquisition of BEL and BTL because of the actions by GOB, the Ashcroft Group has made many millions and only the Belizean people are left with crippling public debt for years to come.

In ending their release COLA pledges to the Belizean people that it will engage in a round of consultations to determine the extent of the economic catastrophe predicted by the IMF and foretold on the streets of Belize. They will then disseminate the figures and facts to the Belizean people since GOB seems unable and unwilling to do so, says the organization. 

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