Yesterday, we showed you Caribbean Development Bank’s annual press conference from Barbados - where the statistics reflected that Belize’s economy was one of the most sluggish in the region, registering an anemic .6% GDP growth. It was also one of only five countries whose public debt grew in 2017.
But still, the CDB’s president remains confident that Belize can juggle growing death and slow economic growth to rebound. He told our colleague from Jamaica Nationwide News Kalilah Enriquez more:
Dr. W. Warren Smith, President - CDB
"We have been investing in infrastructure projects in Belize which are very targeted. Belize is a large country compared to the population that it has so the infrastructure needs are great and they have challenges on the social sector side because you have a lot of inward migration into Belize because the borders are pretty open so there's a challenge to try to keep up with the requirements for adequate education and other services to the people of Belize."
Reporter
"So you're not concerned about the increase in public debt?"
Dr. W. Warren Smith
"Yes the increase in public debt is a challenge but I think one of the things that we take comfort from is that this is not the first time Belize has had to address its debt issues. What we are hopeful of is that they will adopt measures which will not require them to necessarily take the kind of stringent approaches that were taken to debt reduction in the past because that creates confidence problems with investors. But by getting growth and by ensuring that you fiscal deficit is kept under control I think you will see that they are able to come out of the situation they are in currently."
That was Kalilah Enriquez with Nationwide News.
The CDB has a number of ongoing infrastructure projects in Belize…
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