Belize and the Grey Economy

Prime Minister John Briceño

As the discussions surrounding the blue, green and orange economies takes center stage at the Belize Investment Summit, there is one sector that is not given much attention. That is the grey economy. This is the informal economy or the sector that is not taxed and often proves to be the most challenging to monitor.  One reporter asked PM Briceño how his government is working to arrest this sector.

Reporter

“Speaking about the blue, green and orange economy, what about the grey economy that includes narco money and contraband money that is drivers of the economy?”

Prime Minister John Briceño

“It is illegal and we are trying to do everything we can to stomp them out. If you would look at all the legislation we are doing to make it more difficult to move their money that speaks volumes. Right now we are working with the U.S government to help us to strengthen our work in trying to keep the narcos, I think organized crime is a better word that narcos because we have no evidence, the organized crime from Mexico to come into Belize. That speaks to what we are accomplishing. We want to get rid of them. What bothers me the most is that this people come into Belize and create roots in Belize. It is very difficult to get them out. We have to do everything possible to get them out and I plea to every Belizean, do not get into any kind of relationship with these people.”