Regarding Stake Bank, the statement says the project is in construction phase and projected to be operational in 2022, having received the requisite approvals and permits. As it pertains to the proposed causeway from Belize City to Northern Drowned Caye and the causeway to Stake Bank, the Cabinet release says these projects are subject to […]
Entrepreneurship Week will be celebrated in November and those who inspire people from around the world through local, regional and international activities are exploring their potential as innovators. From November tenth to the twelfth, a “Youth Business in Digital Summit” will be held virtually. It focuses on teaching Caribbean-based service providers about how to launch […]
The three-day summit is all about networking and providing a platform that entrepreneurs can tap into. Among the speakers is Belize’s Mervin Budram. More than just a motivational speaker, the Belizean entrepreneur, who has created several successful businesses, wants to share tools that can be used by up and coming entrepreneurs. Mervin Budram, Owner, […]
In August, Belize benefited from an allocation of Special Drawing Rights, commonly known as SDRs worth around thirty-six million U.S. dollars by the International Monetary Fund. SDRs, which the IMF created in 1969, are not hard cash, but supplement our Foreign Exchange reserves to provide a country with liquidity without the need to borrow at high-interest rates. […]
We also asked about the five hundred thousand dollars the Government of Belize reportedly owes to the KHMH for renovations done to the COVID unit. Minister Chebat says the documents need to be reviewed by Cabinet. CEO Cansino says KHMH already has a commitment from the Ministry of Finance. Michel Chebat, Minister of Health […]
Belize and the wider Caribbean are holding a series of meetings with the International Monetary Fund and the World Bank to discuss special vulnerability and debt relief. Belize as a low-lying coastal nation, also sits in the path of hurricanes and other natural phenomena such as flooding caused by climate change. And over the past […]
This week’s Cabinet brief also noted that for the first time villages will be able to charge for trade licenses. But, in a time of economic hardship when small and micro businesses are already feeling a financial pinch, the concern is that such a reform will bring added strain to small and micro businesses in […]
On the controversial topic of the proposed Stake Bank causeway, on Tuesday, Chief Environmental Officer Martin Alegria said publicly that permission was given for the project a few years ago under the U.D.P. administration. While the previous Minister of the Environment, Omar Figueroa, had indicated that a public consultation had to be held as well […]
Prime Minister Briceno said that the ten percent salary cut that was applied earlier this year to the salaries of teachers and public officers played a significant part in helping to put the economy in better standing. He also spoke about the Economic Summit scheduled for November. Prime Minister John Briceno “On the second […]
The Karl Heusner Memorial Hospital has not been exempted from the challenging economic times. As viewers may recall, there are hundreds of thousands of dollars in outstanding debts to the institution. What you may not know is among the delinquents is the Government of Belize itself. Doctor Andre Sosa says GOB owes the hospital about […]
The Belize Ministry of Tourism and Diaspora Relations just completed a four city tour in the United States, holding town hall and business meetings with Belizeans living in Houston, Chicago, New York, Miami. The in-person sessions also looked at the need for embassy and consul services. The CEO in the Ministry of Tourism and Diaspora […]
We also spoke to CEO at the Port of Belize, Andrew Lane who told us that, among other things, included in the agreement are increases for staff in the years to come. Lane says reaching an agreement is huge achievement that he is proud of. Andrew Lane, CEO, PBL “There was a number of […]
As we reported on Wednesday, the Government has secured a US eight-million-dollar loan from the Inter-American Development Bank to upgrade the technological features of the Ministry of Finance. It’s all designed to strengthen public financial management and speed up business so that Belize can start to realize a healthier economy as quickly as possible. Minister […]
Belize has secured a loan of US eight million dollars from the Inter-American Development Bank to be invested in digitalization, staff training and expanding a data center at the Ministry of Finance. It will also be used to implement data analytics and upgrade the overall public financial management system for faster economic recovery. A press release from the […]
The sale of Belizean shrimp to Mexico is about to restart. Today the government announced Belize’s export license has been renewed. The license had expired in 2019, and due to COVID-19 restrictions the necessary inspections had been delayed. According to the Ministry of Agriculture, the Mexican market is a significant part of Belize’s total revenue […]
Not everyone is happy about the vaccine and test mandate. Some sectors say they should have been consulted first. That’s the position the National Trade Union Congress. The NTUCB says while they recognize GOB has a duty to develop reasonable measures to protect public health, they find it quote “disheartening” that no worker input, even […]
Belize Telemedia Limited’s Annual General Meeting for its fiscal year 2020/2021 was held virtually this morning. The company is reporting a net income or profit of eight million dollars, which is a six hundred and five percent net income growth, when compared to fiscal year 2019/2020. In that year, BTL experienced its worst revenue earnings […]
The company projects an increase in net income to thirty million dollars by the end of fiscal year 2025/2026. And while those are just projections, achieving those numbers would mean the largest net income for the company within the last decade, according to their records. The largest net income BTL reported in the last eight […]
And, as the other take-a-way from today’s virtual AGM is that BTL is taking a new approach to its financial reporting model and looking more at Return of Equity or ROE as a measure of financial performance calculated by dividing net income by shareholders equity. It is a return on assets, minus liabilities Chairman Lizarraga […]
The Belize Network of NGOs congratulates the Briceno administration on its blue bonds initiative which has been successfully negotiated with eighty-four percent of the holders of the super bond supporting the financial mechanism which was proposed by The Nature Conservancy. While BNN applauds government’s effort, it is also seeking public affirmation that the blue bonds […]
According to Salas, while the initiative is the hallmark of sustainable human development and relieves a significant portion of Belize’s crushing external debt obligations, there is still a long way to go to restoring the country’s overall fiscal balance. Osmany Salas, Belize Network of NGOs “We must support any initiative that will result in […]
The BNN is also expressing concern over the cruise ports and the concentration of facilities to be built in the Belize District. As many as five terminals would be in operation across the country if all these projects were to be green-lighted. From an environmental perspective, Salas tells News Five that it is not sustainable. […]
Although he is still in Mexico City as part of G.O.B.’s official delegation, this morning Minister of State in the Ministry of Finance Christopher Coye joined Channel Five’s Open Your Eyes via zoom to talk about the progress of the offering to bondholders. The Minister of State said the recent salary cuts and other fiscal […]
The Belize Network of NGOs has congratulated the government of Belize on the Blue Bonds Initiative the nation’s marine resources. However, they are also asking GOB to guarantee it will not weaken any policies that protect Belizeans who rely on marine resources for their living. The statement from BNN terms the Blue Bonds an innovative […]
Beginning October fourth, Belizean taxpayers will have access to a new online service for paying business taxes, GST, personal income tax, and a host of other taxes. The Integrated Tax Information System, or IRIS, had a soft launch today that was hybrid in format, with both a Facebook component streamed by the Government Press Office […]
