Economy, Banking & Finance

Credit Bureau and Rating System Applauded by Chamber of Commerce

One of the most interesting topics brought out in the news this week is the
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Government Advances Plans for National Credit Bureau with Support from

Government is well on the way to introducing a Credit Bureau for the country that
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Efforts to Establish Credit Bureau in Belize Progressing, Says Industry

The Central Bank of Belize has been working on establishing a credit score system for
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Financial Strain Hinders Hurricane Preparedness for Many Belizeans

With all this talk about hurricane preparedness, the reality on the ground is that many
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Unemployment Rises Slightly in Belize, Women Most Likely to Leave

Unemployment is slightly up according to the latest labour force statistics from the Statistical Institute
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Rising Cost of Living: Belizeans Pay More for Goods and

The Statistical Institute of Belize (SIB) hosted its quarterly press conference this morning.  As we
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Belize’s Trade Balance: Import Expenditure Up, Export Revenues Increase

Expenditure on imports is up but so are revenues from exports for the first five
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MSME Roadshow Kicks Off in Orange Walk to Empower Entrepreneurs

The second annual MSME Roadshow was officially opened today in Orange Walk Town.  The event
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Hope for Northern Fishermen Cooperative Amid Financial Crisis

Latest report regarding the Northern Fishermen Cooperative is that there may be hope to rescue
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Western Belize Farmers Protest French Fry Imports Amid Rotting Potato

Farmers in western Belize are up in arms with the government because they claim an
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Bread Prices Surge by 35 Cents, Sparking Public Outcry

Bread prices went up by thirty five cents on Saturday, June 1.  It is an
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Butane Prices Drop by 18 Cents Amid Rising Bread Costs

While the price of bread has recently increased, the price for butane has seen a
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Atlantic Bank Limited washes its hands of Stake Bank Enterprise

The waters have become even murkier surrounding the issue with Stakebank Enterprises Limited, its shareholders
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Suspended SFXCU President Raises Concerns Over Administration and Communication Issues

The suspended President of Saint Francis Xavier Credit Union (SFXCU), Everaldo Puck, has written to
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Holy Redeemer Credit Union to Celebrate 80th AGM at Belize

The Holy Redeemer Credit Union will be hosting its 80th Annual General Meeting this Saturday
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Feinstein Group Demands Independent Probe into Atlantic Bank’s Alleged Violations

Tonight, things are heating up between the Feinstein Group and Atlantic Bank Limited (ABL) over
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Atlantic Bank Fires Back at Feinstein’s Accusations Over Stake Bank

And while Feinstein is calling on the Central Bank of Belize (CBB) to investigate Atlantic
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Sugar Cane Farmers to Access Financing for Replanting Program

Farmers from the Progressive Sugar Cane Producers Association (PSCPA) will have greater access to financing
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Belize Bank and Central Bank Reach Agreement on Banking Fees:

The Central Bank of Belize and the Belize Bank have come to terms with an
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Cost of Living Rises: Belize Sees 3.4% Increase in Prices

The Statistical Institute of Belize (SIB) is reporting that the cost of goods and services
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Belizeans Show Increasing Optimism in Economic Prospects, SIB Reports

Statistics have shown that many Belizeans are becoming increasingly optimistic about the country’s economic prospects.
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Atlantic Bank Sues Michael Feinstein for Fraud and Breach of

Atlantic Bank Limited (the Bank) has filed a lawsuit in the High Court of Belize
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FSC Hosts Webinar on Anti-Money Laundering Amid High-Risk Designation

The Financial Services Commission (FSC) hosted a high-level webinar yesterday, to discuss anti-money laundering and
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Stake Bank Enterprises Accuses Atlantic Bank of Unlawful Acts, Seeks

Stake Bank Enterprises Limited (SEBL) is making allegations against Atlantic Bank Limited and has now
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Belize Bank Expands Services to Caye Caulker: Direct Banking Now

Residents of Caye Caulker are now enjoying direct banking with the Belize Bank Limited.  An
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Financial Investigative Training Concludes, Bolstering Efforts Against Financial Crimes

The Financial Intelligence Unit (FIU) and its various partners have completed a weeklong training session
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PUC Holds Hearing on Belize Electricity Limited Tariff Proposal

The Public Utilities Commission (PUC) held is public hearing last week as part of the
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BEL CEO Presents Tariff Proposal to PUC

During the public hearing, Belize Electricity Limited’s CEO, John Mencias, shared the key points of
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Butane Price Sees Slight Increase Amidst Changes in Acquisition Cost

The gallon price for butane saw a slight increase of ten cents yesterday.  The announcement
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Women account for more than 50% of Belize’s population

Government ministers met for their regular weekly Cabinet meeting today in Belmopan. As part of
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SIB Reports Shifts in Belizean Demographics, Marriage Trends Decline

Over the past decade, much has changed across the country, including its demographics. According to
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Population Growth Slows in Belize, Fertility Rates Down Except in

Fertility rates are down across the country, except for the Toledo District. Yesterday, the Statistical
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US Senator’s Objection Casts Doubt on Meeting Regarding MCC Grant

The Government of Belize is gearing up to meet with Millennium Challenge Corporation (MCC) officials
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Economic Growth in Belize: Tertiary Sector Saves the Day

During the budget debate, many members of the government side spoke on the country’s economic
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Belize Imports Surge While Export Revenues Decline, SIB Reports

The SIB also reported that the country’s imports were up, while revenues from exports were
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Easter Weekend Relief: Fuel Prices Drop for Motorists

There’s good news for motorists taking road trips this Easter weekend. Yesterday, the government moved
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SIB Data Reveals Price Changes in Food Items, Commodities, and

In a recent set of data released from the Statistical Institute of Belize (SIB) it
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Belizeans Show Increasing Optimism in Economic Outlook, Says New Study

And while Belizeans may be feeling the pinch at the pump and the grocery store,
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Belize’s Poverty Rate Drops Over Ten Percent, According to SIB’s

Between September 2021 and September 2023, the percentage of Belizeans living in poverty reduced by
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Legislature Approves Draft Revenue and Expenditure Estimates

Tonight we can tell you that the proposed Draft Revenue and Expenditure Estimates has been
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Senator Herrera Critiques Budget Draft, Questions Allocation Ratios

Senator Herrera utilized the full-time allotted to each member. In the last leg of his
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St. John’s Credit Union Opens Renovated Dangriga Branch

St. John’s Credit Union (SJCU) officially opened its newly renovated Dangriga branch today. The building
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Day Two of Budget Debate Concludes in Belmopan

Day two of the budget debate ended just before five o’clock this evening in Belmopan. 
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National Assembly Kicks Off Budget Debate with Lengthy Presentations

In years past, we have seen heated debates around this time when the new budget
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PM Briceno to Meet with CWU Amidst Rising Tensions

The Christian Workers Union (CWU) and Prime Minister John Briceno are expected to meet on
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Tensions between PBL and Stevedores Cooled Down

Tensions were high today at the Port of Belize Limited as the Christian Workers Union
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Prime Minister Addresses Rising Employment Concerns in Budget Reading

Prime Minister John Briceno has acknowledged the rising issue of employment in the country.  Recently,
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Prime Minister Briceno Unveils Fiscal Year 2024/2025 Budget

Prime Minister John Briceno has presented the proposed budget for the Fiscal Year 2024/2025.  The
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Belize Bank Introduces STEM Program in Collaboration with Mastercard

The Belize Bank Limited has partnered with Mastercard International to introduce STEM through the Girls
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Challenges in Belize’s Health Sector Highlighted in World Bank Report

 The health sector is another area that the World Bank expressed some concern.  Minister of
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Butane Price Increase: Supplies Control Unit Announces Two Cents Hike

Today, the price per gallon for butane has registered a two cents increase.  The Supplies
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IMF Report: Belize’s Economy Shows Remarkable Growth Despite Global Challenges

With Belize being a member of the International Monetary Fund (IMF), the country is scheduled
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World Bank Joins IMF in Concerns Over Belize’s Public Sector

Interestingly, the IMF is not the only one that has expressed concerns over the public
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GOB Identifies Areas to Tackle in Push to Alleviate Poverty

While the Caribbean Development Bank (CDB) has recently provided financing to have the Statistical Institute
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Government in Talks with Belize Bank to Avoid Court Battle

The Briceno Administration is meeting with the Belize Bank in hopes of avoiding a court
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CDB, SIB and Ministry of Economic Development Partner Up To

A memorandum of agreement was signed today with the Caribbean Development Bank, the Statistical Institute
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Boledo Sales to Bolster Belize Health System: PM Briceno Forecasts

The Government of Belize is expecting to collect an estimated seventy million dollars from the
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Belize American Chamber of Commerce Eyes Credit Union Venture with

The Belize American Chamber of Commerce (BACC) is a development agency that is looking at
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Government Launches Artisanal Fishing Loan Program to Boost Livelihoods

Over eighteen hundred Belizean fishers will now have access to low-interest loans to improve their
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Belize Pushes for Regional Economic Integration in Talks with IDB

Minister of State, Christopher Coye, recently returned from Guatemala where he led a delegation to
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Meeting with Guatemalan Officials Promises Economic Boost

A Belize delegation to Guatemala has met with the Minister of Public Finance where several
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Ministry’s Compliance Mission: 50 Establishments Ticketed, Inspections Continue

The Government, through its Supplies Control Unit (SCU) in the Ministry of Agriculture, Food Security
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DFC Seeks Green Climate Fund Accreditation for Sustainable Development

The Development Finance Corporation (DFC) is seeking accreditation with the Green Climate Fund (GCF).  The
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Regular Fuel Drops from $13.43 a gallon to $11.68

Keeping track of fuel prices has been quite an undertaking, especially since the government stopped
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Government Aims to Revive Citrus and Banana Industries: Slow Progress

The government hopes to revive the once-vibrant citrus and banana industries. In recent years, production
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Belize Post Office Employee Caught Smuggling Sugar

An employee of the Belize Post Office is facing hefty fines after he was caught
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Central Bank of Belize Announces Changes to Banking Fees in

The Central Bank of Belize held its second 2023 press brief today where it announced
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Santander Sugar Group Seeks Approval for Local Sugar Sales Amidst

Now that the country’s main sugar supplier, BSI/ASR, isn’t able to identify who’s sending the
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Belize Bank Limited Attains AA-Plus Credit Rating from CariCRIS

The Belize Bank Limited has received an AA-Plus credit rating from the Caribbean Information and
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Services Sector Aids Belize’s Trade Balance Despite Widening Deficit

With Belize’s falling export revenues and high import expenses, the country’s trade deficit continues to
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Ramen Imports Surge in Belize Amidst Soaring Food Prices: CPI

Imports of Ramen noodles skyrocketed this year as Belizeans continue to grapple with the high
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Nationwide Sugar Shortage Hits Belize: Consumers and Businesses Demand Solutions

Another major issue consumers are grappling with is a country-wife shortage of sugar. For weeks,
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Belize’s Unemployment Rate Rises to 4%: SIB Report Highlights Shifts

Belize’s unemployment rate bumped up from two-point-eight percent earlier this year to four percent. That
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Opposition Leader joins CWU in taking issue with lack of

The Christian Workers Union is not the only entity concerned about the government’s interim board
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Senate Debates $86.9 Million Appropriations Bill for Public Sector Expenditure

The Senate convened today in Belmopan where they debated several Bills brought from last week’s
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Senate Approves Port Acquisition & Settlement Deeds Bill 2023 for

Another major topic of discussion in today’s Senate meeting was the Port Acquisition & Settlement
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Leader of the Opposition weighs in on bread price hike

The Ministry of Agriculture and the Baker’s Association continue to dialogue over the controlled price
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Government Strikes Deal to Acquire Port of Belize at Reportedly

As we noted, the government is reportedly acquiring the Port of Belize at a massive
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Ministry of Agriculture Seeks Solution to Bread Price Hike: Options

The Ministry of Agriculture is preparing to submit a Cabinet paper that may solve the
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Belize’s Bakers’ Association Takes Matters Into Their Own Hands, Announces

Belize’s Bakers’ Association is looking to take matters into their own hands to raise the
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GOB’s short-lived Decision to Increase CEO Phone Allowances Sparks Debates:

The Government of Belize’s short-lived decision to increase telephone allowances for CEO’s and heads of
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Belize City Mayor Bernard Wagner Confident as Municipal Elections Approach:

Municipal Elections are only a few months away and political parties are already in campaign
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Cost of Living Rises in Belize: SIB Reports 4.3% Increase

The cost of living continues to climb while import expenditures and export revenues for last
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PSU Threatens Action Over Government’s Phone Allowance Increase Amid Prosecutor

The unfulfilled agreement made with the court prosecutors comes at a time when the Ministry
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Contracts Signed for Sale of Belize Government Lotteries

In two weeks, Belize’s Boledo blues will be over. Yesterday, following the conclusion of the
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BPO Association Conducts Simulation Exercise in Toledo District: Minister Requena

The Business Process Outsourcing (BPO) Association was in the Toledo District holding a simulation exercise
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Central Bank Governor Advocates for Increased Competition Between Banks and

The Central Bank Governor, Kareem Michael, is preparing to push for greater competition between banks
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Social Security Board Proposes $9 Million Loan for New Rum

The Social Security Board has proposed to loan nine million dollars to a Belizean company
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Financial Intelligence Unit Trains Law Enforcement on New Civil Asset

This week the Financial Intelligence Unit (FIU) is sensitizing law enforcement and other investigating agencies
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Labour Commissioner Confirms Significant Drop in Belize’s Unemployment Rate

The Labour Commissioner, Riselli Dominguez, has confirmed the significant lowering of the unemployment rate for
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Private Sector Struggles to Fill Vacancies in Belize Amid BPO

The report by Labour Commissioner Dominguez, brings us to a very important matter when it
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Labour Department Initiates BPO Job Training in Punta Gorda

The Labour Department is spearheading a job training in Punta Gorda Town, Toledo District for
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Opposition Leader “Shyne” Barrow Accuses PM of Allowing Gas Prices

Leader of the Opposition Moses “Shyne” Barrow continues to condemn the high cost of fuel
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