Business & Economy
Belize set to launch new national credit system
For the first time in Belize, the Central Bank has introduced a centralized Credit Reporting System (CRS) to make borrowing less risky, more affordable, and more accessible nationwide. At a press conference in Belize City, Central Bank Governor Kareem Michael unveiled the initiative, explaining that the system is designed to lower borrowing rates and expand financial inclusion nationwide.
Business & Economy
Government-managed Lottery Generates Over $200 Million in Two Years
The Belize Government Lotteries Limited (BGLL) has reported strong performance since the government assumed management of Boledo and the national lottery two years ago. The agency projects total sales of over $200 million, with revenues primarily directed toward free healthcare and education. As BGLL continues to expand, its management plans to further modernize the system through technology and innovation.
Business & Economy
Belize Government Lotteries Ltd. Launches Fi We Boledo App
Belize Government Lotteries Ltd. is happy to introduce to you our new gaming platform. Your favourite Boledo, Ordinary Lottery & Jackpot games can now be purchased on your mobile device via the Fi We Boledo App. The Fi We Boledo App makes it easier than ever to purchase Boledo, Ordinary Lottery, and Jackpot Lottery tickets from anywhere! Designed for convenience, security, and instant payouts, our app lets you choose your numbers and wagers, complete your transaction using Digi Wallet, and receive winnings automatically to your Digi Wallet or Local Bank account — no hassle, no waiting! A Convenient & Secure Way to Play Boledo!
Business & Economy
Development Finance Corporation Rebranded as Development Bank of Belize
On October 2, 2025, Belize officially rebranded its longstanding Development Finance Corporation (DFC) as the Development Bank of Belize (DBB). According to the Government of Belize, this move marks a new chapter in the country’s approach to national development and climate finance. The announcement, made through a government press release following Cabinet approval, signaled the government’s commitment to modernizing Belize’s financial institutions to meet evolving economic priorities.
Business & Economy
BHA Hosts Successful Allied Trade Show in San Pedro
The Belize Hotel Association (BHA) held its third annual Allied Trade Show on Friday, October 3rd at the Grand Caribe Resort north of San Pedro Town. The event brought together allied members, hospitality professionals, and tourism stakeholders for a day of networking, collaboration, and business development opportunities.
Business & Economy
New Fishing Seasons Begin for Queen Conch and Stone Crab, Mixed Opinions on Conch Stock
The Queen Conch (Strombus gigas) and Florida Stone Crab (Menippe mercenaria) seasons officially opened in Belize on Wednesday, October 1st. Both seasons run until June 30, 2026, unless production quotas are met earlier, in which case they will be closed. While Stone Crab fishing is not common in San Pedro, Ambergris Caye, conch remains a popular choice. Some fishers reported a bountiful opening day, while others said stocks continue to decline each year.
Business & Economy
Belize Records Moderate 3.5% GDP Growth for 2024
On Wednesday, September 24th, the Statistical Institute of Belize (SIB) presented its review of the country’s Gross Domestic Product (GDP) for 2024, reporting a modest growth of 3.5%. The end-of-year data highlighted strong performance in the agricultural sector. SIB’s Manager for the Economic Statistics Department, Jacqueline Sabal, noted that the primary sector grew by 2.8%.
Business & Economy
San Pedro Workshop Launches Kotina to Boost Small Tourism Businesses Online
On September 25th and 26th, the San Pedro Town Council hosted an introductory workshop designed to empower Belizean tourism businesses through the launch of Kotina, an innovative platform for website creation and management. Held at the House of Culture, the event, offered under the Human Development portfolio, focused on equipping women, entrepreneurs, and small to medium enterprises (SMEs) with the digital tools needed to thrive in the upcoming busy season.
Business & Economy
Opening of the Stone Crab Fishing Season
The Fisheries Department takes this opportunity to inform all fishers and the public that in accordance with the Fisheries Resources Act and Statutory Instrument No.108 of 2022, the Florida Stone Crab (Menippe mercenaria) fishing season opens from October 1st, 2025, to June 30th, 2026.
Business & Economy
Belize Enacts New Insolvency and Bankruptcy Act to Modernize Financial System
The Financial Services Commission (FSC) has announced the enactment of the Insolvency and Bankruptcy Act, 2025, a significant reform aimed at modernizing Belize’s financial framework. Effective September 17, the new law replaces the Bankruptcy Act of 1902 and introduces a comprehensive system that addresses insolvency and bankruptcy for individuals, businesses, and financial entities. It emphasizes fairness, transparency, and mechanisms to support economic recovery.
Business & Economy
MSMEs Gain Relief Under Belize’s New Tax Amnesty
The Office of the Prime Minister (OPM) officially launched the Fiscal Incentive MSME Business Tax Amnesty Program on September 19th in Belmopan. The initiative, supported by the Ministry of Investment’s Investment Policy and Compliance Unit (IPCU), the Belize Tax Service (BTS), BELTRAIDE, and the Economic Development Council (EDC), is designed to help micro, small, and medium enterprises (MSMEs) formalize their operations with the BTS.
