Devaluation....? - 01/19/02 12:15 AM
The Mermaid is pretty worried about the economy of Belize.
I think a devaluation is in the making.
Does anyone have any input on who that will affect the average Belizean?
How does it affect people with loans? Is it a better or worse time to borrow? If you borrow now and there is a devaluation, do you still owe the same amount you borrowed or is it adjusted to suit the New economy?
In some ways, it seems a devaluation will force more Belizeans to buy Belizean, to cultivate and produce more or we will starve.
But these are all my ignorant assumptions. Anybody's 2 cents on this, especially good advice to the small man would be greatly appreciated.
I think a devaluation is in the making.
Does anyone have any input on who that will affect the average Belizean?
How does it affect people with loans? Is it a better or worse time to borrow? If you borrow now and there is a devaluation, do you still owe the same amount you borrowed or is it adjusted to suit the New economy?
In some ways, it seems a devaluation will force more Belizeans to buy Belizean, to cultivate and produce more or we will starve.
But these are all my ignorant assumptions. Anybody's 2 cents on this, especially good advice to the small man would be greatly appreciated.