“People may plan all kinds of things, but the Lord’s will is going to be done. It is a disgrace to be greedy; poor people are better off than liars”.” (TEV – Proverbs 19:21-22)
The PUP Manifesto for the 1998 National Elections clearly stated in its Foreword, written and signed by then Party Leader and the present Prime Minister of Belize Hon. Said Musa, “People do not want ministers to have so much power; they demand that power be decentralized to the towns, to the villages, to communities, to the people. They demand honesty, transparency and accountability from government – – – – In response we present the program in this manifesto to SET BELIZE FREE: to free the Belizean people from the scourge of crime, – – – Better will come with the growth economic policy that the PUP will pursue.”
In accordance with the provisions of the Constitution, National Elections were called in August 1998. With a voter turnout of 90.14%, and with only 9.86% not voting, the PUP won the Elections with 59.29% of the popular votes, while the UDP received 39.15%. This translated into a 26 to 3 majority for the PUP over the UDP in the House of Representatives and a PUP majority appointed Senate.
Belizeans, during 1998 to 2003, the growth economics policy of Prime Minister Musa and his PUP Administration was not delivering “the better that was to come”. This was evident in the voter response at the polls in National Elections on March 13, 2003 –
· Voter turnout of registered voters dropped from 90.14 % to 79.51%
· Registered Voters who did not vote increased from 9.86% to 20.46%
· Registered Voters who voted for the PUP fell from 59.29% to 52.75%
· Registered voters who voted for the UDP increased from 39.15% to 45.22%
· Seats won by the PUP fell from 26 to 22
· Seats won by the UDP increased from 3 to 7
Those numbers were clearly showing a negative trend related to the failing growth economics policy.
More of the things, “They would like us to forget”
Government announces austerity measures
September 29, 2004, C7 News
“Government has been talking austerity for the past two years, and living it for at least the past 9 months. – – – Cabinet yesterday agreed to a major spending cutback, to contain a burgeoning fiscal deficit, which is estimated to be hovering near to an alarming 8%, – – – – The problem is that, despite glib pronouncements to the contrary by former finance minister Fonseca, 7 news is reliably informed that government is running a recurrent deficit – which, simply put, means it spends more than it earns.”
Alfonso Noble: “Is the government at this point admitting that we are at basically a point of crisis when we have to reduce recurrent expenditure? We can understand Capital 1, Capital 2 expenditure reductions, but when we are reducing recurrent expenditure we are at a point of crisis.”
Hon. Said Musa: “No, not at all; what we are saying is that there has been waste and abuse in the use of public resources.”
Belizeans, the growth economics policy of the PUP Administration was not performing as predicted. That was reflected in the results of the first Nation-wide Poll, on the performance of the PUP Administration, conducted by SPEAR on October 10, 2004. The Poll, which was taken about one year and seven months after the elections in March, 2003, showed:
· The Prime Minister’s approval rating is a dismal 19.8%.
· 71.6% of those polled say he should call an early election.
· 49% of those polled would vote for a third party.
· 34.5% would re-elect a PUP government
· 65.7% would vote for the UDP.
A follow-up Poll by SPEAR in December, 2005, showed continued discontent with the PUP Administration elected on March 13, 2003.
Belizeans, the People’s discontent with Prime Minister Musa and his PUP Administration was confirmed when, on March 1, 2006, the UDP won control of all Municipal Governments throughout the nation of Belize.
More of the things “They would like us to forget”
March 17, 2006
Hon. Said Musa, Budget Presentation
“This budget comes at the end of a difficult year for the country and for this government. It was a year when government had to drastically curtail spending and increase taxes to reign in a deficit that had ballooned to 8% of GDP, the product of years of fiscal indiscipline. Government took the decision to rein in the deficit because we recognized that fundamental imbalances had emerged in our fiscal accounts, and time was not on our side in correcting those imbalances. The alternative would have been to continue to delay the adjustment with potentially disastrous consequences for our economy and our nation.”
And, according to Prime Minister Musa, those “fundamental imbalances and disastrous consequences” were not his or his former Finance Minister Ralph Fonseca’s fault; it was the fault of their private sector partners.
According to Prime Minister Musa, “As private sector counterparts did not or could not repay their loans, government went deeper into debt, and over time it became increasingly difficult to meet debt payments, while at the same time finance the projects necessary to improve the social and economic well-being of our citizens. – – – – Today, eight years later, we need to rethink the policies which we must pursue to ensure a better future for Belize.”
More of the things, “They would like us to forget”
The Truth about those debt payments
July 25, 2006 – UDP Press Conference
Hon. Dean Barrow – “This country, because of the borrowing of the PUP, is heading for a sovereign default.” – – – “basically it is a debt re-profiling game plan that points to, – – – a selective default. The government will very shortly announce that it is undertaking, what it would please it to call, a debt re-profiling exercise. All that means, ladies and gentlemen, is that the government will be acknowledging publicly, universally, to all the world, and in particular to its commercial debtors, that the government is unable, over the next few months, to meet its repayment obligations on our national debt. – – – – The people of this country need to understand exactly how bad the crisis is, and the people of this country have to understand exactly whose fault it is.”
Belmopan – 02 August, 2006
Belize Announces Impending Debt Re-arrangement
The Government of Belize announced today its decision to seek the cooperation of the country’s private sector creditors in a rearrangement of Belize’s approximately US$960 million external debt stock.
The Government expects that most of the external commercial debts of Belize and its public sector entities will be affected by this debt rearrangement. The Government of Belize is simultaneously approaching its official-sector creditors to solicit their assistance in addressing the country’s currently unsustainable debt burden.
More of the things “They would like us to forget”
“Belize is projecting significant fiscal deficits over the medium term. Considerable shortfalls in the balance-of-payments are also expected to persist, exacerbated by Belize’s very low level of international monetary reserves. Belize’s ratio of debt to GDP is just over 90%. The country spends — on interest payments alone — more than 27% of the Government’s fiscal revenue. – – – Servicing of the Belizean external public sector debt stock on its existing terms is no longer a viable option.” (Hon. Said Musa, Prime Minister and Minister of Finance of Belize)
On July 1, 2007, eleven months after Prime Minister Musa acknowledged, on August 02, 2006, that the “Austerity Measures started in 2004 were not working under the Growth Economic Policy of his PUP Administration”, he went on to tell us about, “A New Beginning” in these words –
“The People’s United Party, like the mythical phoenix of Greek lore, has regenerated itself from the ashes of the March 1, 2006, Municipal elections. This Sunday, 1st July, the PUP launches its team 31 to start its campaign to win back the hearts and minds of all its supporters to ensure victory in the upcoming elections – – – .”
Belizeans, like their acknowledgement of the mythical phoenix of Greek lore – the invincibility of the PUP is also an acknowledged and proven myth in the political arena of Belize. It was proven and acknowledged, resoundingly, on March 1, 2006.
Belizeans, Prime Minister Musa and his PUP Administration would also “Like us to Forget” that:
(1) It was with “twenty-nine members” of their “Team 31” that their failed Growth Economics Policy brought us into “the Super Bond Quagmire” from Now until 2029.
(2) That the Belizean Tax Payers have not “regenerated themselves from the ashes of the failed ‘Growth Economics Policy’ of Prime Minister Musa and his PUP Administration”
(3) There is a Supreme Court case with respect to the Government of Belize Sovereign Guarantee of the UHS Private Sector Loan for $33 M; plus an additional $12 M.
(4) In this high profile case, the Claimants are: The ACB, the Belize Medical and Dental Officers Union, the NTUCB, and Godwin Hulse. And the Defendants are: The Prime Minister and the Attorney General, of Belize; with the Belize Bank and UHS as “Interested Parties”.