While the opposition to Globalization Forces blame the IMF for Argentina's troubles. The real problem was a corrupt political constitutional system without checks and balances. The straw that broke the back of Argentina was really ex-President Menem's reelection effort, when he spent millions of government tax debts, trying to change the constitution to allow him a third term. Couple that with an ineffectual political system racked by injustices like 10,000 government workers who enjoy job security for life, high political salaries and perks for politicians and a system that allows a controlling political party to bleed the treasury and credit capability of the nation of up to $4 billion a year for political party purposes and you have a recipe for disaster. Argentina employs so many political appointed government workers that in comparison to Mexico, a country with a population three times that of Argentina and half as many government employees, the whole concept of economic stability is ludicrous.
One would think political people in Belize would read the "Wealth of Nations", which shows that economics could be separated from politics. A book that shows that national and individual wealth is not dependent on corrupt largesse from mafia run port town political parties ( as in the UDP and PUP ) in Belize, awarding monopolies to cronies through one charade or another, in unholy alliances between government monopolies, privatized to private monopolies in return for political party contributions. Economic wealth is based on private competition with minimum government interference and maximum reward for individual effort.
One of the many basic major problems facing Belize, is the stranglehold two apparent mafia self serving political parties have on the constitution and legislative process in Belize. Preventing the looting, or exploitation of Belizeans, the treasury, the credit of the nation, coupled with the rape of Belizean voters for mafia party interests is the paramount problem facing the nation. How do you kick out the power mad corrupting influence exploiters of self interested party members? As Argentina shows, the end of this road is going to be violence and death, eventually.
IMF austerity packages, fixed exchange rates as in $2 Bz to $1 USA cannot work as they are supposed to do, when faced with a corrupt parliamentary constitutional system that hands over the keys to the treasury, to the mafia DON party leader of whoever wins the next election. Like Argentina, our mafia political parties have the ability to drain the financial resources of Belize to further political party campaigns. With such a decree ridden Ministerial system making a mockery of any show of passing legislation and laws; there is no equal justice for all and in such a case, a sense of lawlessness, selfishness, greed and pervasive moral breakdown is inevitable.
Study Argentina's collapse and see where Belize is headed under our parlimentary one party rules, ministerial discretion system. Belize is a country with no civic virtues, there is no faith in our institutions, the government of a mafia run party of self interest is no longer believable. We have a country and society that can turn in any direction. Harnessing the good will of people by putting in checks and balances into the Constitution of Belize is the only real solution to achieve widespread economic wealth in Belize.