Can Belize survive 2 more years under the UDP?

This week I had the opportunity to speak to a personal friend of mine who happens to be one of San Pedro’s most prosperous businessmen. It was nothing to do with politics; we were just hanging out at his business watching the world cup games. But somehow the critical discouraging investor confidence situation came into the conversation. Then came perhaps one of the most worrying questions – can this country survive another two years under the UDP? The question came from someone I personally know has been a financial friend to the barefoot minister and the other ruling elected officials on the island; a man who had big hopes in the ruling Barrow government.

From our conversation, I realized that not only is his business hurting from the slow economic activities on the island, but like him, so many other businesses across the country are also experiencing ‘goma’ under the watch of the UDP.  For months I have been hearing from business people that “things haada out yah.” But to hear one of the biggest and most powerful businessmen with good UDP connections admitting that “things are really, really dread,” then it must be so.

The businessman said to me that never before has the real estate business on the island been in such a terrible condition. With one of the largest hotels on the island in his business empire, the businessman said to me that never before in his experience have bookings been so low. In fact, he explained that in many instances he has to dig into his savings to cover operational expenses and meet payroll. And to top off the slow business climate, the businessman complained that the crime situation just adds more problems to the tourism crisis that we are experiencing. Then he made an alarming statement that I will quote verbatim – “one would thing that even after Williams was shot, the PM would introduce a realistic and clear plan as to how he plans to tackle crime in Belize.” Boom! Then another statement – “the only ones making it right now are the Barrows and the Vegas while we (businessmen) are getting screwed every second!”

To put things into perspective, one just needs to travel north of Ambergris Caye and they will realize what the businessman is really speaking about. Large resorts have been forced to close down and abandon their business, retired persons are selling their properties, real estate companies are selling closed vacation homes, properties on mortgages are being auctioned by commercial institutions, businesses are going into receivership, apartments and rooms are closed and a high number of building are unfinished.

San Pedro was not prepared for the economic crisis brought into play by the UDP. Because of the bloom that Ambergris Caye enjoyed under the previous PUP government, many Sanpedranos and business people invested their hard earned money or went into the banks to borrow money and built apartments and rooms for rental, expanded their businesses and constructed hotels, opened restaurants, purchased vehicles for taxis, purchased boats for tours and even improved the infrastructure of their dwellings. But now that things are not working out as they were, things are becoming stressful for the islanders and investors.

Sure the UDP are quick to blame the past administration and the global economic indicators; but that is just another political excuse to hide their incompetence and inefficiency. Just ask the following questions – what has the UDP done for you since elected to office? After 2 ½ years, what has the UDP done for Belize? Is the UDP capable of moving Belize out of the economic mess that they have put us in?  Does the PM really know how to run this country or is he governing by trial and error? Can the UDP bring some level of stability into the business sector to ease the high interest rates from commercial banks? Can Belize survive another 2 ½ years in this crippling economic atmosphere? Just take time to reflect on the questions and you will realize that the mess the country finds itself in is thanks to the UDP.

When we hear our investors making theses types of statements and asking those types of questions, it is a strong indication that businessmen and investors have lost confidence in their government. And when investors lose confidence in a government, it can spell disaster for an already struggling government. Then it is time for the government to put up and make things happen or to shut up, leave and make way for capable minds to run the country.

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