Gov’t borrowing millions to aid unemployed workers

BELMOPAN (CMC):

Prime Minister Dean Barrow says the government has borrowed BDZ$75 million (One Belize dollar=US$0.49 cents) from the Central Bank to help persons who have been placed on the unemployment line and unable to take care of themselves and their families.

But Barrow has described the loan as “a drop in the bucket” and has made a solemn promise to help get more funds.

“I am in no doubt that we will end up at least doubling that $75 million. So there will be add-ons to the disbursement of monies to our unemployed which disbursements start this week and will also initially utilise the contributions made by Belize Electricity Limited, Belize Water Services and Social Security Board,” he told the nation.

“The additional funding that we will procure will augment the national ongoing BOOST initiative that also already puts cash in the hands of our people and we will expand countrywide, including to the rural areas the Ministry of Human Development’s all important food assistance programmes. Belizeans, I say again that you are not alone. Together we will overcome and I swear by that Almighty God whom I ask now to bless us all that government, our national partnership and I personally will do everything to bring Belize as whole as possible out of this national and international nightmare,” Barrow said.

HELP IS SLOW

He said that as far as financial aid, in the form of loans from the Inter-American Development Bank (IDB), help is a little slow to come since the IDB and other international financial institutions are also busy rendering assistance to other countries that are also battling COVID-19.

“The second point I must make is this, our local health team and the Ministry of Health are so plentifully resourced that we could theoretically reach the point of equipment oversupply.

I hasten to add though that there can never really be too much. I’m just trying to underline the fact that we are completely prepared for the battle on the health front.

“So, the Ministry of Health forecasted their requirements for a six-month battle against COVID-19 at around BDZ$12 to BDZ$15 million. We already have in hand close to BDZ$20 million and BDZ$13 million more is arriving from the IDB in a matter of weeks.”

But Barrow said therein though lies the beginnings of a possible problem. He said all the international financial institutions, perhaps understandably, are laser-focused on the health front on this fight against COVID-19.

“As critical as that is though, what I keep telling our international partners is that it is equally important for us to feed and clothe our people,” Barrow added.

Meanwhile, as of Wednesday night, the restriction of free movement of citizens across the country will come into full effect as part of the state of emergency.

The government has said only persons who are deemed essential service workers, including law enforcement officers and health professionals, will be allowed to go about their respective duties outside of the imposed curfew.