标签： Belize

BELIZE CITY – The United Democratic Party (UDP) has issued a stark warning regarding Belize’s fiscal trajectory, accusing the ruling People’s United Party (PUP) administration of excessive borrowing that threatens the nation’s economic future.

In a forceful address, UDP Senator Patrick Faber revealed that government borrowing has reached approximately six hundred million Belize dollars ($600 million) over the past five years. Faber emphasized the magnitude of this debt accumulation, specifically noting for clarity: “For those who like it like the former prime minister, Musa, that is point six million dollars with a B.”

The opposition senator framed this borrowing spree as a generational burden, asserting that while the borrowed funds have been expended, the financial obligations will persist for decades. “The point is, that money is now gone, but the stench from borrowing all that money remains for our children and our children’s children and even our children’s children’s children to pay,” Faber stated during his presentation.

Faber’s criticism targeted the PUP’s governing approach, claiming this pattern of debt accumulation reflects the party’s operational philosophy. The UDP has consequently demanded an immediate cessation of further national borrowing.

“The UDP calls for a cease and desist of borrowing in the name of this country, a cease and desist of borrowing in the name of our children’s children,” Faber declared, emphasizing that current policies are saddling future generations with unsustainable debt while citizens remain unaware of the long-term implications.

The statement represents the latest escalation in Belize’s ongoing political debate over fiscal responsibility and economic management, setting the stage for continued parliamentary confrontation over the nation’s financial direction.

BELIZE CITY – Political tensions have escalated surrounding the rumored acquisition of telecommunications provider Speednet by Belize Telemedia Limited (BTL). The United Democratic Party (UDP) has formally challenged the government’s transparency regarding the potential consolidation, demanding immediate public disclosure of all details concerning the speculated deal.

Lee Mark Chang, Area Representative for Mesopotamia, delivered a forceful critique of the alleged negotiations, highlighting the conspicuous absence of concrete information. “For months we have been hearing whispers, rumors of a deal,” Chang stated. He emphasized that BTL is a national asset, with 91% Belizean ownership, and questioned the rationale behind using its resources to acquire competitors like Smart, NEXGEN, and Centaur.

The opposition’s central argument hinges on a profound lack of transparency. Chang challenged the government’s narrative, asking, “They tell us that it is a good deal for Belize. But if it is such a good deal then why all the secrets?” He pointed to the absence of a signed agreement, a public report, or a disclosed purchase price, describing the process as shrouded in secrecy.

Employing a vivid analogy, Chang compared the situation to a business owner inexplicably directing customers to a competitor, only to later be forced to buy that same rival. The core of his inquiry focused on the ultimate beneficiaries of the transaction. He posited that the primary winners would not be the Belizean public or the national economy, but rather the private family owners of the acquired companies, who would receive a “risk-free, massive payday” that would secure wealth for generations.

The UDP’s demands have thrust the rumored corporate maneuver into the political spotlight, framing it as a matter of national interest that requires rigorous public scrutiny and accountability from the current administration.

Prime Minister John Briceño of Belize has strategically deflected inquiries regarding a prospective acquisition involving telecommunications providers BTL and Speednet, citing his brother’s financial stake in Speednet as grounds for non-participation in discussions. The situation presents a potential conflict of interest given that Briceño’s administration maintains majority ownership of BTL while his brother holds direct investments in Speednet.

During a recent press engagement, Briceño acknowledged the familial financial connection but emphasized his personal detachment from Speednet investments. “Belize is a small country and you all know I have never lived off my government salary,” Briceño stated. “I do not have any direct investments with Speednet—it is my brother.”

The Prime Minister defended the government’s approach to state-owned enterprises, noting that despite government majority ownership, BTL operates as a private entity with autonomous decision-making authority. Briceño pointed to BTL’s remarkable financial turnaround under his administration, highlighting how the company transformed from generating one million dollars in 2019 under the previous UDP government to exceeding twenty million dollars in recent performance.

Drawing parallels to his private business experience with Centaur, Briceño explained the logical business case for expansion through acquisition. He detailed how his company grew from a small Orange Walk Town operation through strategic purchases of smaller companies across multiple communities, ultimately expanding into cable services. This growth strategy, according to Briceño, mirrors what BTL might pursue to enhance cash flow and profitability.

The Prime Minister concluded that BTL’s leadership should make decisions based solely on the company’s best interests, despite the overlapping familial and governmental connections that have raised questions about potential conflicts in the proposed telecommunications merger.

Belizean Prime Minister John Briceño has publicly countered opposition criticism regarding the nation’s escalating cost of living, defending his administration’s economic measures during a recent appearance on the ‘Open Your Eyes’ program. The United Democratic Party (UDP) has intensified its critique of government policies, claiming many citizens are experiencing severe financial strain from rising prices.

Prime Minister Briceño acknowledged the inflationary pressures affecting imported goods while emphasizing his government’s multifaceted approach to alleviate economic burdens on citizens. ‘We understand the issue of the cost of goods, but we do not have control of it. These goods are imported,’ Briceño stated, redirecting focus toward his administration’s proactive interventions.

The government’s economic relief strategy includes several key initiatives: implementation of a higher national minimum wage, expansion of scholarship programs, provision of meals for approximately 15,000 schoolchildren, and free education access for tens of thousands of students. Additionally, the administration has significantly broadened National Health Insurance coverage, now serving about 22,000 Belizeans at minimal cost.

Briceño highlighted targeted tax relief measures including GST-free weekends during Christmas and back-to-school periods, characterizing these incremental benefits as collectively ‘putting more money in Belizean people pockets.’

Contrasting this optimistic assessment, UDP Second Deputy Miguel Guerra presented a starkly different perspective during a press conference, asserting that everyday expenses—particularly grocery costs—have reached unsustainable levels for many households. Guerra emphasized that the cost of living crisis represents an urgent reality that cannot be overlooked by policymakers.

New data from Belize’s Statistical Institute indicates a 1.2% increase in household goods and services costs during the first ten months of 2025 compared to the same period in 2024, providing statistical context to the ongoing economic debate.