We in the media, as well as members of the public, often whine about the lack of hard data about the Belizean economy. That excuse should no longer work, in view of the timely release of the annual report of the Central Bank. The book offers a good overview of last year’s economic performance, as […]
Over the course of this week we’ve taken a close look at the subject of illegal immigration, specifically allegations that Belizean nationality is being sold by corrupt officials and their partners in the private sector. But not all foreigners in Belize are engaged in passport scams. Some have made substantial investments here…and News 5’s Janelle […]
In Belize and most any part of the developing world there is no shortage of academically trained consultants, all too ready to advise budding entrepreneurs on how to spend their hard-earned money. But it’s a rare day when one of those consultants puts his own cash on the line and joins the rest of the […]
On Friday evening, this year’s BelPro ConEx gets underway inside the King’s Room at the Princess Hotel. The three-day event is held to promote products made in Belize, and the 2002 version promises to be bigger, better and full of good deals for the public. According to organiser Lourdes Smith, President of the Belize Business […]
Another public/private partnership will be developing some new infrastructure at the northern border. A release from Galeria Maya Limited says that company has embarked on a joint venture with the Commercial Free Zone Management Agency to construct over a mile of four lane highway between the frontier and a new entrance to the Free Zone. […]
It is best known to the public as the collector of property tax and issuer of traffic tickets… but today the Belize City Council unveiled an ambitious project to expand the urban centre’s appeal. Ann-Marie Williams, Reporting With less than eight months before voters go to the polls to elect a new City Council, Mayor […]
A release from Cabinet has confirmed that Belize is going forward with plans to float a bond issue on the international market to raise a quarter billion Belize dollars. Proceeds of the one hundred and twenty-five million U.S. dollar offering, to be managed by the U.S. firm of Bear, Sterns, will go toward refinancing the […]
The impending privatisation of the management of the Philip Goldson International Airport has received some recent media attention, but less obvious on the radar screen has been an ongoing negotiation for the establishment of a free zone on lands surrounding the airport. Today News 5’s Janelle Chanona travelled to the Ladyville site to find out […]
With the Guatemalan claim in short term suspended animation, Prime Minister Said Musa departed this afternoon for Washington D.C., where he will attend the sixteenth meeting of the Caribbean Group for Co-operation in Economic Development. The meeting, chaired by the World Bank, allows the eight member countries to explain their economic strategies to a forum […]
While on the subject of bananas, there is good news and bad news to report from this major export industry. The good news is that following the devastation caused by Hurricane Iris last October, banana production is nearly back to pre-storm levels. According to the Banana Growers Association’s Zaid Flores, shipments, which were halted on […]
And when that campaign comes, it is not certain whether it will turn on the particular circumstances in each of the twenty-nine constituencies or revolve around issues of national importance. One man looking to create a broad based buzz is UDP leader Dean Barrow and today he took aim at government’s policy of privatisation, particularly […]
With two hundred and forty-two million dollars in revenues representing eighteen percent of the nation’s gross domestic product spread over all six districts, the tourism industry can make a credible claim to being Belize’s single most important economic activity. Today the people who co-ordinate efforts to attract visitors to our shores and keep them happy […]
On Wednesday, the Holy Redeemer Credit Union held its fifty-eighth annual general meeting…and as usual, the nation’s most widely owned financial institution is doing remarkably well. H.R.C.U. reports a seventeen percent increase in assets, eighteen percent increase in savings and a net profit of twelve point six million dollars. The result for shareholders is that […]
Aside from higher bus fares, Monday will also witness the opening of some new financial institutions in Belize. The first of the freshly licensed casas de cambio will begin buying and selling foreign exchange, primarily U.S. dollars, and no one is quite sure what to expect. Although the exchange rate will technically remain at two […]
The last few weeks have been quiet on the foreign exchange scene, and during that time prospective operators of newly enfranchised casas de cambio have been getting their applications in order. According to a release from the Central Bank, regulations establishing the exchange houses will take effect on Monday April, fifteenth. Twelve prospective currency traders […]
It was presented a week ago and today, in front of a packed gallery, members of the House of Representatives debated the budget for the coming fiscal year. Leader of the Opposition, Dean Barrow, was the first to take the floor and in no uncertain terms, said the document presented last Friday was as phoney […]
In his government’s defence, Minister of Tourism Mark Espat rose to address the assembly. While Espat’s presentation did not directly confront the numbers presented by the Opposition, he spoke of Cabinet’s intention to serve the best interests of all Belizeans. Mark Espat, Minister of Tourism “When we point the finger of blame to the world, […]
Minister of Home Affairs Maxwell Samuels was more specific, responding to the financial issues raised on the other side of the aisle. Maxwell Samuels, Minister of Home Affairs “The question raised by the Leader of the Opposition on speculation fee, import duty, excise duty increases and so on are all indicators he does not understand […]
Although falling well short of his usual four-hour filibuster, the member of the House who spoke volumes today was the Representative for Mesopotamia, Michael Finnegan. Using a stack of note-cards several inches thick, Finnegan maintained that the picture of the economy being painted by the Government is an exercise in deception. Michael Finnegan, Area Rep., […]
In a document called a New Time for Belize, Prime Minister Said Musa today presented the budget for the fiscal year 2002/03 to the House of Representatives. While the speech highlighted the adverse economic impact of hurricanes and terrorism, according to the government, G.D.P. still managed to grow by more than four and a half […]
The occasion was the signing of an amended agreement to allow rehabilitation funds previously borrowed from the I.D.B. to be used for Hurricane Iris recovery. The four million dollars will be spent to repair and retrofit schools and community centres in Stann Creek and Toledo to better serve as hurricane shelters. But while Ministers Ralph […]
Foreign exchange–or the lack of it–continues to plague both the private sector and by extension, the government that rations it. Today, in an effort to lay the groundwork for the new system of casas de cambio, ten license holders and four applicants met to form an association and elect officers. While members of that body […]
While authorities try to bring the currency situation back into equilibrium, hard pressed merchants are resorting to new methods to find the U.S. dollars to pay for imports. Since last week the big Hofius store on Albert Street has posted a sign in its window offering a twenty percent discount to those customers who pay […]
Last week we reported on problems at the Tower Hill Sugar Factory, primarily complaints by farmers that the facility was not processing their cane fast enough. Today, a briefing from Belize Sugar Industries indicate that those same problems have resulted in the company’s second consecutive year without a profit. According to the Managing Director’s Review […]
For the next two weeks, representatives of the International Monetary Fund will be in Belize conducting an assessment of the state of Belize’s economy. According to a government spokesman, the special visit follows a presentation made to the I.M.F. by Belize on the impact of two hurricanes and the implications of September eleventh on the […]
