By Belize Live News Staff: Prime Minister John Briceño is urging the world’s biggest lenders to do more for small countries like Belize.
Addressing Caribbean ministers in Bangkok, Briceño asked the IMF, the World Bank and other development partners to provide targeted technical help and financing that is affordable, predictable and suited to the needs of small states.
He also called for greater access to financial tools that can deliver quick support when disasters or economic shocks hit, including contingent credit lines, catastrophe bonds and parametric insurance.
Beyond energy costs, Briceño outlined longer term challenges facing Belize’s economy, including an ageing population, falling birth rates, high levels of informal employment and low participation of women in the workforce.
To address them, he said Belize must improve productivity, create more opportunities for young people and women, strengthen domestic revenue and invest in skills, health and resilient infrastructure.
Briceño, who chairs the World Bank’s Small States Forum, has used the Bangkok meetings to press for fairer treatment of small economies. Earlier in the week, he met with IDB President Ilan Goldfajn to discuss energy security and the sargassum crisis.
The Prime Minister was expected to return to Belize on Sunday, October 18.
