All the retoric which was floating around about 6 weeks ago, in regards to the strength of the Belize Dollar has subsided...NOW we get the information that Belize currency situation has been downgraded by the major ratings firm Moody
and that the loan package which was to relieve the strain on the governments budget is in jeopardy. IF, I repeat, IF they are able to float the USD 125 Million loan the interest rate would likely be 30% higher than the previous speculated rate of 10%....
OPTIONS:....Devalue the overinflated Belize Dollar and set a more realistic budget thereby attracting more business and growning the economy.
The Casio De Cambio is still maintaining the BZD at an unrealistic rate because they would take a GIANT hit if the rate was allowed to slip too far so they are really against the true floating rate.
ADVICE: HANG ON TO USD....SPEND DOWN or TRADE BZD
Maintain the current state of affairs, overspend the budgets, borrow exorbatant amounts of money to cover budget overruns at 13-15% interest which would further exaggerate the situation until you just cannot go any further and then......?????