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Minister Chris Coye talks debt and a switch to GDP ratio is calculated

Belize’s economy is still rebounding after more than two years of challenges, brought on in part by the COVID-19 pandemic. However, the Government is optimistic that based on the most recent figures by the Statistical Institute of Belize, the nation continues on the right path. For example, first quarter numbers for 2022 are better than the figures for the same quarter in 2019 – before the pandemic. Minister of State in the Ministry of Finance, Christopher Coye explained.

On the GDP front, Belize’s figures were being calculated using the UN Statistical Division System of National Accounts, created in 1993. This methodology was updated in 2008 and is seen as more accurate and comprehensive. In 2022, it is the first time Belize is using it. So that means that Belize’s debt-to-GDP ratio is now 80 percent, down from 133 percent when the Briceno government took office and accounting for the switch in methodology. Minister Coye added that the successful negotiations of the blue bond.