By Zoila Palma: Leader of the Opposition Tracy Panton is calling on the Government of Belize to provide greater transparency before the House of Representatives authorizes a proposed US$100 million, or approximately BZ$200 million, loan from the Export-Import Bank of Taiwan.
Panton said the Opposition values Belize’s longstanding relationship with Taiwan but is concerned about the lack of details regarding how the loan proceeds will be used.
Panton said the loan motion currently identifies its purpose only as “General Financing Purposes,” without outlining specific projects, programmes or measurable outcomes. She questioned the Government’s plan to draw down US$40 million by December 31, 2026, followed by an additional US$60 million through subsequent advances, saying that the House of Representatives has not been given sufficient information on why the initial funds are needed.
“The Government must provide the impact this US$100 million will have on Belize’s public debt,” Panton said.
Panton stressed that borrowing can be justified when it is used for productive investments that strengthen the economy and improve the lives of Belizeans. “It cannot be treated as a blank cheque for unspecified government spending,” Panton said.
Panton emphasized that Belizeans will ultimately be responsible for repaying the debt and therefore deserve to know how the money will be spent. “The people of Belize will be responsible for repaying this loan,” she said.
She added, “Transparency must come before authorization. Accountability must come before expenditure,” Panton urged.
The post Leader of Opposition demands accountability for $200 million Taiwan loan appeared first on Belize News and Opinion on www.breakingbelizenews.com.
By Zoila Palma: Leader of the Opposition Tracy Panton is calling on the Government of Belize to provide greater transparency before the House of Representatives authorizes a proposed US$100 million, or approximately BZ$200 million, loan from the Export-Import Bank of Taiwan. Panton said the Opposition values Belize’s longstanding relationship with Taiwan but is concerned about
The post Leader of Opposition demands accountability for $200 million Taiwan loan appeared first on Belize News and Opinion on www.breakingbelizenews.com.
