The International Monetary Fund has published its executive report following Article Four consultations with the Belize government earlier this month. Essentially the report confirms what most observes have long known, namely that Belmopan may be trying to reform its free spending ways, but if it doesn’t try harder there’s going to be trouble. To get […]
When the issue of repurchasing majority ownership of Belize Water Services arose, there were no fireworks. Both sides would agree that acquiring eighty-two point six-eight percent of the company, at a cost of twenty-four point eight million U.S. dollars would be in the best interest of the country. However, the Opposition would voice its reservations […]
Government is following up on its promise to make shares in B.T.L. available to the general public… but that public better have U.S. currency if it wants to buy. That’s the word from the Ministry of Finance which today issued a release announcing Belmopan’s intention to sell one point eight million “C” shares, or five […]
If your gas tank is reading anything below full, you might want to think of dipping into emergency reserves because come Saturday morning, local fuel costs will jump more than thirty-five cents for premium and regular gasoline. According to a government press release issued this afternoon, the new prices at the pump this weekend are […]
If you came to Belmopan this morning expecting to hear about the Social Security scandal, a bankrupt D.F.C., skyrocketing government debt, and a credit rating that even a pawn shop might consider risky… you came to the wrong meeting of the House. Today’s session, held on the steps of the Administration Building, was confined to […]
With eighty-nine companies participating in the ninth annual EXPO Belize, this year’s trade show is expected to draw thousands of visitors looking for a bargain to the Saint John’s College gymnasium. According to organisers at the Belize Chamber of Commerce and Industry, more than one hundred and twenty booths will be displaying the best in […]
The B.T.L. issue simmered today as members of the National Trade Union Congress met late this evening to decide what to do about their two representatives on the Social Security Board, Antonio Gonzales and Horris Patten, who failed to oppose a ten million dollar S.S.B. loan to Sunshine Holdings to buy shares in the telecommunications […]
They were blindsided with a massive tax increase on liquor and cigarettes, but merchants in the Corozal free zone decided to take their case to the Prime Minister. Apparently their arguments found some sympathy as sources indicate that a decision has been made to roll back the ten percent levy to a still high, but […]
Lately B.E.L. has been keeping a low profile on the project, but in a late evening press release, the company announced that on Monday the Chalillo Hydroelectric Facility generated the first of what it hopes will be many billions of watts of power. According to the release, testing of the turbine will continue through the […]
He is no longer the Minister of Finance, nor Minister of Budget Planning… and you won’t find him listed as member of the ministerial committee on money matters. But if you think that Ralph Fonseca has retreated–or has been relegated–to some quiet corner of Cabinet, you’d be very much mistaken. Because there’s no one in […]
If you read it in a novel you’d probably dismiss it as just one too many unbelievable twists in an already improbable narrative. But the story surrounding Belize Telecommunications Limited keeps growing more weird with every passing day. The latest chapter involves information long rumoured but now confirmed in the company’s most recent financial statements, […]
The last time the Belize Tourism Board and Inter-American Development Bank collaborated, the result was a major renovation of Belize’s ancient Maya sites just in time for the nation’s boom in cruise tourism. This time around the B.T.B. and I.D.B. are looking to build on that success with an initiative that seeks to upgrade the […]
And with long stay tourism continuing as the industry’s bread and butter, Smith allowed that the time has come for at least one major luxury hotel chain to plant its flag on Belizean soil. Godfrey Smith “It’s a priority. That’s a decision we’ve taken at B.T.B., that we need attract a major hotel. But the […]
They failed to reach their budgetary targets and have imposed stiff new taxes on free zone and real estate transactions without any warning or consultation… but one of government’s financial point men says that G.O.B. is getting a handle on the situation. According to Works Minister and finance committee member Jose Coye, reforms undertaken over […]
And while Central Government wrestles with the disparity between revenue and expenditure, the Belize Social Security Board is trying to recover some delinquent loans and a good deal of lost prestige. Today at a ceremony at which the S.S.B. donated funds to some worthy causes, Board Chairman Yasin Shoman told News Five that despite recent […]
It had been promised as part of government’s agreement with the Unions earlier this year and although it took a while, the Ministry of Finance has published the first of what promises to be a monthly report on G.O.B.’s revenue and expenditure. In its introduction to the first release, which covers April through July, the […]
With the tragedy on the U.S. Gulf Coast appearing to grow with each passing day, it is apparent that the repercussions of that natural disaster will be felt globally. For Belize, that means the likelihood of radically higher gasoline prices, caused primarily by inflated crude oil prices and a shortage of refinery capacity. How much […]
It is renowned as a regional organisation geared at improving competition while maintaining international quality standards in the Caribbean’s agricultural sector. And this week, representatives of CARDI, the Caribbean Agricultural Research and Development Institute, is hosting its fifty-eighth meeting of the Board of Directors in Belize City. According to CARDI officials, while a lack of […]
Business owners operating in the Corozal Free Zone are tonight up in arms over a massive increase in taxes placed on the zone’s most popular products. According to recently gazetted Statutory Instrument 107 of the Free Zone Social Fee Order 2005, all whiskey, brandy, rum, gin, vodka, liqueurs, cordials, wines, beer, stout, and cigarettes will […]
It may never find its way into the history books, but a major milestone was reached today when Belizean and Guatemalan negotiators put their initials on a first ever trade pact between the two nations. The partial scope agreement will allow duty free and reduced duty access for a number of goods, as well as […]
Today officials of the Florida Caribbean Cruise Association were in town for a series of meetings with local service providers, government, and the media. The organisation represents fourteen cruise lines that operate in the region in order to present a common front for dealing with various entities at ports of call. The F.C.C.A.’s President, Michele […]
To the surprise of absolutely no one, Jeffrey Prosser and his various business entities have loudly condemned the action of the Belize Government and Michael Ashcroft for their takeover of the B.T.L. board of directors. In an email today, Prosser P.R. chief Rene Henry asserted that Ashcroft and G.O.B. are “now openly in contempt and […]
The enabling legislation was passed by the National Assembly earlier this month and today the government finally used it to erase any lingering presence of former owner Jeffrey Prosser from the Board of Belize Telecommunications Limited. According to a press release issued late this evening by newly appointed Chairman Keith Arnold, the B.T.L. board today […]
Official opening ceremonies for the Belizean Producers Convention and Exhibition are underway at this hour at the Princess Hotel and Casino. Over fifty businesses will showcase their goods and services over the weekend, and many of them spent much of today trying to create attractive stalls to catch the eyes of the thousands of visitors […]
Virtually every week we hear reports of smugglers being caught with goods they are trying to cross into Belize. But what we seldom hear about are the high volume of importers who manage to bypass the systems set in place to collect the proper duties and ensure there is a level playing field for all […]
