Newly Elected Councillor Violently Attack Santa Clara Former Chairlady

The video we’re about to show contains disturbing violence and we warn viewers. It involves a fight ...

How Will The New Central Bank Fees Affects Banking Customers

The Central Bank has imposed new fees on local banks for services under their new Automated Payment ...

New River Releases Protruding Smell

Every year about the same time between May to July residents and business owners residing along the ...

Corozal House Of Culture Hosts Annual Ancient Week

The annual Ancient World symposium held at the Corozal House of Culture has featured special present...

Los Hijos Del West To Represent Belize In Costa Rica

Los Hijos Del West are travelling to the 10th “Festival Nacional de Marimbas Limonal Abangares” in C...

  • Newly Elected Councillor Violently Attack Santa Clara Former Chairlady

    Wednesday, 17 July 2019 02:32
  • How Will The New Central Bank Fees Affects Banking Customers

    Wednesday, 17 July 2019 02:39
  • New River Releases Protruding Smell

    Wednesday, 17 July 2019 02:44
  • Corozal House Of Culture Hosts Annual Ancient Week

    Wednesday, 17 July 2019 02:46
  • Los Hijos Del West To Represent Belize In Costa Rica

    Wednesday, 17 July 2019 02:52

noimageThe Belize Business Bureau, which is a chartered private business sector group, has raised alarm over the economic situation in the country. The Bureau issued a release today indicated that it is concerned that Belize is at risk of devaluation if the state of affairs is not corrected.


The release notes that Belize is facing seven major issues, including revaluation of the Belize dollar, unsustainable GDP to debt ratio that could possibly rise to 101.7%, negative GDP growth, loss of correspondent banking, and a widening funding gap.


The release notes that the IMF had warned in 2015 that if the GDP to debt levels increased to 100%, it would reflect a 30% depreciation of the Belize dollar.


The Bureau advised that to maintain the exchange rate, Belize needs monetary discipline, minimal uncertainty and a controlled trade balance.


The Bureau also shared proposals to achieve this, including freezing the debt, a mandatory reduction of 7% every year, discontinuing contract officers for two years, supporting the Stake Bank Cruise Terminal in Belize City, scaling down the strict requirements for Mexican nationals to visit Belize to a voter’s ID card, and forcing the Commercial Free Zone in Corozal to prescribe to stricter regulations.


The Business Bureau indicates that the country needs a public and private sector approach to restoring the economy.

Share this post

This content has been locked. You can no longer post any comment.