Briceno Spoke Months Ago What IMF Stated in Recent Report

By
Updated: June 1, 2016

Last week we told you of the preliminary report coming out of the assessment team of the International Monetary Fund (IMF) in which it has stated that the country’s economic outlook has worsened.  Yesterday we brought you the interview with Senator Godwin Hulse where he told Love News, quote, “this is not by far the worse we have been; we have seen far worse than this.  In fact, it is better now than it used to be.”  End of quote.  Well, today the People’s United Party has weighed in and according to their release; the recent IMF Article IV Consultation confirms the dismal state of Belize’s economy under the UDP.  The opposition continued by stating, quote, “While the UDP government has been unable to truthfully explain the economic realities to the Belizean people, in his Budget presentation, Party     Leader, Hon. John Briceño signalled that hard times were upon us. Our country is in an economic crisis as a result of the UDP’s excessive and unsustainable borrowing and spending. To mitigate recession, the IMF is saying to the UDP that it must cut government expenditures and contain the public sector wage bill while broadening the tax base and implementing tax reforms. In other words, that means retrenchment of public officers and further raising of taxes on hard working Belizeans. The People’s United Party has consistently reminded the Government of the repercussions of the mismanagement of the economy. This IMF Press Release is testament to the warnings of the PUP.  Belizeans  will now have to wake  up to the sad reality, after the election party of 2015 using borrowed money, that we have been tricked and that we have even harder times ahead under this   UDP government.”  End of quote.