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IMF says Belize Chose a Unique Way to Address the High Wage Bill as Opposed to Out Right Retrenchment

One aspect of Belize’s debt that the IMF’s Deputy Chief of the Western Hemisphere Department had to do with the wage bill. According to Dr Guajardo the wage bill would have been one of the primary items that the IMF would have analyzed in its program. He noted that Belize chose a unique way to address the high wage bill as opposed to outright retrenchment.

According to the IMF it would take an estimated ten years for Belize to have its head above water when it comes to the country’s debt.