In September 2024, the Central Bank of Belize (CBB) announced plans to introduce a new family of banknotes in early 2025. The designs for the new banknotes, which will narrate stories about the country’s rich and diverse heritage, are expected to be revealed in January. These new bills will also incorporate the latest security features to combat counterfeiting. Furthermore, the CBB has confirmed that the banknotes will honor two of Belize’s national heroes: the late Right Honorable George Cadle Price and the late Honorable Philip Goldson. The new banknotes will continue to be valued at US$1 to BZ$2.
The current banknotes in circulation depict the late British monarch, Queen Elizabeth II.

However, the CBB has not confirmed whether any members of the British royal family will be featured on the new series of banknotes. In a press conference on November 27, 2024, the CBB’s Governor, Kareem Michael, mentioned that the decision to remove the monarch’s portrait is not unique to Belize. “Belize will be joining a growing list of Commonwealth countries that once featured Queen Elizabeth the Second on their money but no longer do today,” he said. Michael explained that following the queen’s passing, there was a choice to feature either the portrait of King Charles III or notable local figures on the new banknotes.

They decided to include the late George Cadle Price, who is regarded as the father of Belize’s independence and the nation’s first prime minister. Additionally, they honored Philip Goldson, a dedicated activist, journalist, and politician who fought for human rights and defended Belize’s territorial integrity against the unfounded claims from Guatemala. Michael also emphasized that the new banknotes will not affect the value of the current Belize dollar.

Prime Minister the Honorable Dr. John Briceño announced that new banknotes will be introduced later this year. He mentioned a transition period, allowing the public ample time to view and learn about the new notes.
While some individuals welcome the idea of the new banknotes, there are mixed opinions regarding the removal of the British monarch. In San Pedro Town on Ambergris Caye, some residents expressed no issues with the new designs as long as the Belizean dollar remains strong. However, others are uncomfortable with completely removing the British monarch, as he is still considered Belize’s head of state.

Those who disagree with this change are urging the government to consult, allowing the Belizean people to decide on the design of the new banknotes. Some islanders also expressed a desire to see a combination of both. They suggested that since the British King is still part of Belize’s governance, some new notes should feature his portrait, while others should showcase the country’s national heroes.