Back now to today's House Sitting. Included in the meeting was a loan motion from the Barrow Government to borrow 30 million dollars from the CDB.
Its official name is the Caribbean Development Bank - COVID-19 Emergency Response Support Loan Motion of 2020. According to the Government's description, the purpose of the loan is to provide funds to assist the Government in meeting its debt service obligations to the bank over the period of July to June 30th, 2020. This proposed loan is supposed to allow the Government to, quote, "…preserve fiscal space and redeploy its financial resources to be able to finance immediate and essential emergency COVID-19 related health expenditure for Belize."
This was the first loan motion of today's House Meeting. It ended up triggering some hard-talk between the Prime Minister, who was trying to get support for the motion, and the Leader of the Opposition, who thinks that since the PM's term in office is coming to a close, he should not be leaving more debt behind for the incoming administration. Here's the back and forth on that bit of government business:
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