Callable Funds No Threat, Says Senator Guerra

The debate over Belize’s bigger buy-in at the Central American Bank for Economic Integration isn’t cooling down. Critics call the thirty million in “callable” funds a hidden debt, but government senators insist there’s nothing secret about it. P.U.P. Senator Hector Guerra says this callable capital is more like an emergency guarantee, and in the bank’s sixty-five-year history, it’s almost never been used. He argues the move is about one thing: influence, giving Belize a stronger voice and better access to funding when it matters most.

 

Hector Guerra, P.U.P. Senator

“It’s a portion that the bank can request from not just Belize, but from other nation states. It can call it in in rare instances. My research has shown that over the sixty-five years that this bank has been in existence, I don’t know that there is even one occasion where the bank has called upon that capital. So, it’s on rare occasions because you see the callable capital is a guarantee for the bank in case of emergencies. That is the proposal that is in front of the senate this afternoon. There is no hidden agenda. Senator Faber made mention of being upfront with the Belizean people. Well, the proposal is clearly put in the motion. It’s here in plain day for the Belizean people to see. Now why does this matter? Why is it important that we take these steps? Why is it important that we invest in this bank? I alluded to one already, influence. I’ve alluded to one already. Influence.”