7145 Slaughterhouse Road
Belize City, Belize Central America
(+501) 203-2098 or 203-0528
Call Us for More Info or Questions
Mon - Fri: 8:00am - 5:00pm
Our Main Office Opening Hours



BELIZE ECONOMY.00_00_12_23.Still001

Belize faces a dim economic future; that is the prediction from Bloomberg

On the heels of the S&P Rating report on Belize, a publication by Bloomberg has predicted that Belize and several other nations may soon become known instead for its debt crises as opposed to the place where the wealthiest bankers go to play.  The report states, quote, “the three nations (Barbados, Belize, and the Bahamas) are some of the most exposed to the sudden stop in global tourism due to the coronavirus pandemic.

On the heels of the S&P Rating report on Belize, a publication by Bloomberg has predicted that Belize and several other nations may soon become known instead for its debt crises as opposed to the place where the wealthiest bankers go to play.  The report states, quote, “the three nations (Barbados, Belize, and the Bahamas) are some of the most exposed to the sudden stop in global tourism due to the coronavirus pandemic. And after decade-long borrowing sprees, they’re also staring down big bond payments, raising concern over how the Caribbean region can repay its debt.  The publication cited S&P Ratings as saying that tourism in the Caribbean will probably decline by 60% to 70% from April to December compared with last year.  Marla Dukharan, an economist in Barbados, calls it a once-per-century shock for the Caribbean. She said even in the most optimistic scenario, the region will lose about 50% of its tourist revenue this year which will weigh heavily on the Caribbean’s roughly $80 billion foreign debt load. The Bloomberg publication went on to say that the S&P already rates the Bahamas, Dominican Republic, Jamaica, Barbados and Belize in junk territory.  Faced with the COVID-19 pandemic, Prime Minister Dean Barrow has announced that the country will be going further into debt with a goal to manage this crisis and to assist the unemployed and needy citizens.  It is still unclear how deeper in debt Belize will be following this global crisis.