7 News Belize

No New Money, Renegotiation Averts Likely Default
posted (March 8, 2017)

And while that is the opposition’s take on it, government says it is saving 18 million dollars in interest payments in the upcoming fiscal year alone.  So then that means free money, right?  Well, not so fast.  Turns out that government didn't have the money to pay in the first place. The Financial Secretary explained:…

Jose Waight - Financial Secretary
"It's not new money but we have saved, we don't have to find that but it's not new money to spend so the situation remains the same."

Jules Vasquez
"Would we have been able to pay it in the normal course as things were going?"

Jose Waight
"Short answer, no."

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