By Belize Live News Staff: The Senate convened on Tuesday to discuss two loan motions totaling $24 million USD from the Inter-American Development Bank (IDB), aimed at improving urban development and the health system. However, the debate quickly turned to the government’s borrowing habits, with the opposition highlighting the huge amount borrowed in recent years.
UDP Senator Michael Peyrefitte criticized the government for its continuous borrowing, stating, “We keep borrowing and borrowing and borrowing…We have come to this National Assembly and borrowed approximately 1.7 billion dollars in four years, with nothing to show for it.”
Peyrefitte further questioned the allocation of funds within the projects, pointing out significant amounts designated for consultancies and administration. He also questioned the need for external execution units when the relevant ministries could handle the projects.
In response, Minister of State in the Ministry of Finance, Chris Coye, defended the loans, explaining that the government initially had to address immediate challenges upon assuming office. However, they have since been able to focus on medium and long-term solutions to issues such as health, education, and crime.
Coye emphasized the importance of data and statistics in understanding the problems Belize faces. He stated, “Items that for example have been identified are the challenges that we see in non-communicable diseases, heart disease, diabetes, stroke, those are some of the leading causes of death in Belize, those are areas that we can address but if we don’t understand the problems we’re facing, then we’re either sticking our head in the sand or like headless chickens.”
Coye further emphasized the importance of utilizing the support of multilateral organizations like the IDB to conduct analyses and efficiently allocate resources to address the challenges facing the country.
