High Cost of Living Continues to Plague Marginal Poor in Belize as Inflation Rises to 6.1%
By: Omar Silva, NP Staff Writer
Belize City, 27th April 2023
Economy
“Reduction in public debt celebrated by Belize government, but amount paid and remaining balance undisclosed.”
By: Omar Silva, NP Staff Writer
Belize City, Tuesday:14th March 2023
The current administration led by Prime Minister John Briceño is celebrating a significant achievement in reducing the country's public debt. According to Briceño, the public debt has decreased from 133% of GDP to 64% of GDP since he took office. The Prime Minister called this achievement historic.
The I.M.F. Article IV Mission to Belize Issued its Concluding Statements
The Article IV consultation is a regular review conducted by the International Monetary Fund (IMF) of its member countries' economic and financial policies. The consultation aims to assess the country's economic health, identify potential risks, and provide policy recommendations to help the country maintain economic stability and achieve sustainable economic growth.
Belize's Struggling Banana Industry: Facing Challenges with Fertilizer and Climate Change
By: Omar Silva, NP Staff Writer
Tuesday: 21st February 2023
Belize Cattle Exports to Mexico in slight Decline this year.
By: Omar Silva, NP Staff Writer
Sunday: 19th February 2023
Belize Approves Three Loans from Inter-American Development Bank Despite Opposition
The Government of Belize has approved three loan contracts with the Inter-American Development Bank (IDB), a move that was opposed by some senators, who noted that no additional details were annexed to the loan contracts that they were given the opportunity to review. The first loan of $16 million Belize dollars will be used to fund the creation of a Digital Single Investment Window and A Foreign Trade Single Window to improve and facilitate investment in Belize. The second loan of $10 million USD is to provide digitalization across the government and within the private sector, while the third loan of $15 million USD is to fund climate-resilient farming across the country. One senator criticized the trend of excessive borrowing by the current administration, while others supported the loans, saying they were for the right cause.
Santander Sugar Group,a fully Mechanized Harvesting System in the Region
By: NP Staff writer
Belize City: 8th February 2023
Santander Sugar Group, Belize's youngest sugar industry, has rapidly grown to become a significant contributor to the country's economy. In just eight years, the company has achieved tremendous success and established itself as a leader in the sugar industry, stretching from Panama to Mexico. With its fully mechanized harvesting system, Santander Sugar Group has increased productivity and ensured optimum quality of its sugar production.
Food tariffs with Belize Suspended, AMLO declares.
During his brief visit President Andrés Manuel López Obrador reported today that Mexico will abolish its tariffs on various agricultural, meat and basic food products so that Belize can export to our country. “We have just reached an agreement with the Prime Minister (John Briceño) for Mexico to abolish its tariffs on products that Belize can export to our country,” he stated this Saturday.
New Health and Travel Insurance Requirement … Scheduled for next week
A New Health and Travel Insurance requirement on visitors is expected to come into effect next week, February 15th. 2022.
This prerequisite is causing rumble in in the tourism industry with several stakeholders openly criticizing the measure especially since this new coverage in particular, will be applicable even to those travelers arriving that have personal health and travel insurance.
Inbound Travelers will be obligated to purchase this new policy via an online portal, which is to-date, is still in the making, at border point of entry.
BELIZE RE OPENS ITS GATEWAY TO THE WORLD
The government of Belize will reopen the land borders to local and international traffic effective Monday, 7th. February 2022. Belize borders to Mexico and Guatemala has been closed for almost 2 years since the Covid Pandemic started to affect Belize in the first quarter of 2020.
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