We have heard the term Foreign Reserves time and time again – it is a necessity in every country whose economy depends on trade outside its borders. The BTL Arbitration payment has lowered Belize’s Foreign Reserves which is one of the issues that Kareem Musa of the PUP highlighted in today’s press conference.
Musa reminded the media of the warnings issued by the former Governor of the Central Bank of Belize, Glenford Ysaguirre some weeks ago when the payment in the BTL Arbitration award was at the forefront.
It is to be noted that Belize’s foreign reserves has been much lower than it currently is some ten years ago as is documented in the IMF Report. Next week our newsroom will be taking a closer look at those figures.