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#214669 - 12/05/06 06:05 PM CONCISE HISTORY OF ECONOMIC DEVELOPMENT IN BELIZE
Marty Offline
BELIZE 1981-2005
December 04, 2006

A book that looks at the economic developments of post independent Belize was introduced this morning in Belize City. The book entitled A Concise History of Economic Development in Belize 1981 -2005 is written by U-B lecturer Doctor Aondofe Joseph Iyo.

Dr. Iyo

“The book is an examination in schematic order Belize’s economic performance between 1981 and 2005. the book has looked at how the different aspects of the economy has been performing, the role of government and entrepreneurs and the role of human beings the ordinary Belizeans who are employed and unemployed in the productive sector. So essentially it looks at the different aspects of economic indicators. In 1998 I was teaching at UCB and now I teach at UB. I was teaching some courses and I did a paper on political economy ad the challenges of globalization for Belize. In that, I had examine the economy and the way it was heading. So I became interested in how Belize will perform in a globalize economy. That’s what made me actually prompted me to begin to write about this. My target audience is the above average reader the person who really understands or who wanted to understand how Belize’s economy has been going in the past 24years and where it is headed in the next 24 years. Essentially people at the tertiary level institutions informed audience rather that depend on the hear say sounds in the media. I would want them to look forward and read the pages of the book and become better informed consumers.”

Doctor Aondofe Joseph Iyo author of A Concise History of Economic Development in Belize 1981 -2005. The book can be bought at the Image Factory in Belize City at 15 dollars.


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#214670 - 12/05/06 06:05 PM Re: CONCISE HISTORY OF ECONOMIC DEVELOPMENT IN BELIZE [Re: Marty]
Marty Offline
New book published on Belize’s economic development
In his eleven years as a university professor in Belize, Dr. Joseph Iyo, has certainly left his mark, not only as a teacher, but also as a researcher and architect of advances in the nation's school curriculum. Today he lived up to his billing as a "special kind of academic" with the launch of his book, A concise history of Economic Development in Belize. The study, accounting for the years 1981 to 2005, is written so the reader need not be an economist to understand it and the numerous statistical tables should be helpful to students and journalists. One of the major features noted by Iyo is the increasingly important role of the private sector. He also made it clear that the study does not pass judgement on government's current financial predicament.

Dr. Joseph Iyo, Author
“I also see a relationship that is changing very dramatically from over reliance on government largess to a self-independent growth. I see the private sector taking a life of its own in the last four, five years or three. But the previous relationship was that if the government sneezed the private sector coughed. In the past, once the government finances went down the private sector would have gone down inevitably. So I think the best thing that is happening in Belize with its fortunes that we have witnessed over the last few years is for the private sector to develop a life of its own.”

Stewart Krohn, Reporting
“Now doctor in your remarks this morning you said that debt is not necessarily bad, it is how that debt is managed, has the government of Belize manage its massive debt well?”

Dr. Joseph Iyo
“Well the problem with this aspect of debt management is that it is just evolving and therefore my analysis is very skewered. Usually when you are managing your debt in the long term you have to have a long time strategy and I haven’t seen a long term strategy for debt management. It may be existing there but I haven’t seen. So I wouldn’t say if it is good or bad.”

Stewart Krohn
“You are a man who just wrote a book on economics and you live in the present and not just the past it sounds like you are dodging the question. As a citizen or as a long time resident does it look to you like this debt is being managed well? Has the government borrowed too much? Have they spent what they borrowed wisely?”

Dr. Joseph Iyo
“You are trying to make me responsible for the government.”

Stewart Krohn
“No I’m not trying to make you a spokesman for the government, what I am saying you are someone who holds yourself out as someone who knows something about economics. We don’t all know about economics, so we are relying on you give us some analysis.”

Dr. Joseph Iyo
“What I am saying is that I haven’t seen a document that has clearly spelt out how the debt will be managed long term. That is my answer.”

Stewart Krohn
“Can a government sustain itself with a foreign debt that is as large as its G.D.P.?”

Dr. Joseph Iyo
“Governments have shown—the United States of America has a nine trillion dollars debt deficit. But what are doing to that is that they are putting some policies in place to make sure that one, that lets tax the poor and give tax breaks for the companies to generate to employ more people and that is the kind of strategy I am talking about. So you can see that the United States of America even though has a huge debt and huge deficit has put in a policy statement that is addressing that. What I am saying here is that I don’t see that policy statement. I haven’t seen that kind of document, so I can’t say that will take us out of debt until I see such a policy pronouncement or a policy strategy document then I can answer that question.”

For the record it should be noted that as of today the U.S. national debt stands at around eight point five trillion dollars, out of a G.D.P. estimated at thirteen point three trillion. Economic Development in Belize, published and distributed by Factory Books, retails at stores nationwide for around twenty dollars.


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