During our interview with the Financial Secretary, we asked about the country’s foreign reserves. According to Waight, Belize has about four months’ worth foreign exchange.
Joseph Waight, Financial Secretary: “We have about three and half or four months of import cover which is comfortable. The problem is this, that we don’t know what the future will hold. We don’t know how long it will take for tourism to rebound and remember the reserves are basically what backs up our currency peg so we have to conserve it until we see growth restarting in the economy. So yes w do have reserves but not because we have it can we deplete it and therefore we’re trying to put the debt on a more sustainable footing and also to try to maintain and rebuild the reserves even more. So not because we have it we can spend it immediately, we have to see more clearly or have a better feel as to the in flows before we can think of the outflows.”