7 News Belize

CDB Loan Not Cash In Hand
posted (May 20, 2020)
Earlier this week we told you about emergency loans that the Caribbean Development Bank is making to seven Caribbean countries. $15 million US is earmarked for Belize - but the Financial Secretary today explained that it is not cash in hand, but debt relief:

Joe Waight- Financial Secretary
"The Board of Directors of CDB met earlier this week and approved a lone to the Government of Belize. The loan will then be used to meet our debt service payments to CDB for the next year. So, it's a refinancing in a sense, along the term loan to give us immediate relief for this year. The total amount is about USD$15 million for this. It will give us a break. It is not money in hand that we can spend elsewhere. It's basically a refinancing of what we would have had to pay CDB this year. We really do hope that the other IFIs could take a lesson, a page out of CDB's book."

Home | Archives | Downloads/Podcasts | Advertise | Contact Us

7 News Belize