Central Bank of Belize Calms Fears Over Currency Devaluation Amid New Design Plans

The Central Bank of Belize (CBB) has issued a statement of what it hopes to be some reassurance to Belizeans regarding the value of the Belize dollar.  The statement comes after several persons have gone on media platforms recently, expressing the belief that the Belize dollar would devalue once a new design is released.  Back in June, Prime Minister John Briceno announced that a new design for the currency is underway which would see a change from Queen Elizabeth to King Charles the Third, and would also include Belize’s national heroes, George Price and Philip Goldson.  While these new notes won’t be released until about mid next year, the Central Bank is asking the Belizean people to stop listening to rumors and to be properly educated.  The release affirms that since Independence and even before then, there have been changes to the designs and features, and those have been done without any loss or gain to the Belize dollar.  As a matter of fact, since 1976 the Belize dollar has been pegged to the US dollar at a rate of two to one.  As it relates to the new designs, we understand that the bank notes will reflect the country’s rich heritage and will have enhanced security features to combat counterfeits.  The new designs will be launched in early 2025, and will begin circulating later in the year.