By Omar Silva, Editor/Publisher

National Perspective Belize – Digital 2026

www.nationalperspectivebz.com

Belize City: Sunday 22nd February 2026

The Quiet Shift in Global Power

The world is not collapsing.

It is recalibrating.

For nearly 80 years, the international financial system has revolved around one anchor: the United States dollar. From oil trades to sovereign reserves, from correspondent banking to cross-border settlements, the dollar has functioned as the bloodstream of global commerce.

But today, that bloodstream is no longer uncontested.

What we are witnessing is not chaos — it is repositioning.

And Belize must understand it.

SWIFT Is Not the Dollar — And the Dollar Is Not SWIFT

Many confuse these two.

SWIFT is a Belgium-based financial messaging cooperative. It sends secure payment instructions between banks. It does not move money.

The real leverage lies in U.S. dollar clearing systems.

When a transaction touches the U.S. dollar, it often passes through American correspondent banks or clearing channels. That creates jurisdictional reach.

This is why critics in parts of Europe have described U.S. financial enforcement practices as “extraterritorial.” Not because rules are inherently unjust — but because enforcement follows the currency.

For small nations, this matters deeply.

Why Nations Are Diversifying

Across the globe:

• BRICS nations are expanding local currency trade.
• Central banks are increasing gold reserves.
• Bilateral settlement agreements are growing.
• Regional payment systems are being strengthened.
• Discussions of digital settlement frameworks are accelerating.

This is often labelled “de-dollarization.”

That word is dramatic.

The reality is more measured:

Countries are building redundancy.

They are reducing vulnerability to single-point dependency.

The U.S. dollar may still dominate global reserves and trade settlement. That fact so far, remains unchanged.

But the monopoly psychology is eroding.

And when psychology shifts, policy follows.

Sovereignty and Financial Infrastructure

At its core, this debate is about sovereignty.

Every independent nation has the right to:

• Conduct its own monetary policy.
• Structure its own trade relationships.
• Manage its own reserves.
• Regulate its own financial system.

When enforcement mechanisms from powerful economies extend beyond borders through currency channels, it creates tension.

Some call it necessary regulation.

Others call it financial imperialism.

What is undeniable is this:

Infrastructure has become geopolitical.

What This Means for Belize

Belize is a small, open economy.

We depend on:

• Correspondent banking relationships.
• U.S. dollar stability.
• International trade flows.
• Tourism receipts.
• External financing.

When global financial structures shift, small economies feel tremors first.

Belize must ask:

1. How diversified are our correspondent banking relationships?
2. What percentage of our reserves sit in USD versus other assets?
3. Are we strengthening compliance frameworks to protect access?
4. Do we have contingency planning for financial fragmentation?
5. Are we investing in financial literacy so our population understands these shifts?

This is not about choosing sides between Washington, London, Beijing, or BRICS capitals.

It is about resilience.

The Strategic Path Forward for Belize

Belize must:

• Strengthen regulatory transparency to maintain international confidence.
• Protect correspondent banking access at all costs.
• Diversify trade partners without destabilizing reserve structures.
• Maintain macroeconomic discipline.
• Improve public financial education.

Financial fragmentation at the global level increases risk for nations that are unprepared.

But it also opens opportunity for nations that are strategic.

The Reality Belizeans Must Understand

The U.S. dollar is not collapsing, yet.

SWIFT is not disappearing either.

But the global system is slowly moving from singular dominance toward multipolar redundancy.

That shift will take years.

Belize cannot afford to wait till it happen, for us to react to global headlines.

We must respond intelligently.

Because in a world where financial infrastructure becomes a geopolitical instrument, preparedness becomes sovereignty.

Final Word

The world is not ending.

It is adjusting.

The question for Belize is simple:

Will we react to the shift — or prepare for it now?