The national debt is always a figure of interest - and ever since the year 2001 when it broke the billion dollar mark - it's been a figure of fascination. Last week it came up many times in the budget debate - since the Barrow Administration makes no apology for using Petrocaribe debt to drive its economic agenda. But how much is the debt - and who's responsible for the bulk of it? Both sides had conflicting interpretations of what should be pretty straightforward facts.
So we checked the Central Bank figures and they show that in February of 2008, total debt, external and domestic stood at 2.301 billion Belize Dollars.
In February 2015, the total debt was 2.6 billion dollars. And while the debt has increased, the all important debt to GDP ratio has gone down due to growth of the economy. That is still a ways off form the 70% benchmark set for developing countries.
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