Business & Economy
Changes in the buying rate of the United States dollar
A new amendment has changed the buying rate of United States (U.S.) dollars for banks and authorized dealers in Belize. According to the official note from the Central Bank of Belize, the amended buying rate is BZ$2 to US$1. Before this change, a different exchange existed when purchasing U.S. dollars from a bank or dealer.
Business & Economy
Amended liquor licensing regulation allows sale of alcohol on Good Friday Â
The banning of alcohol sales on Good Friday may now be considered a thing of the past following the amendment to the Intoxicating Liquor Licensing Regulation passed in December 2022. As per the amendment to that Statutory Instrument (SI) and explained by Commissioner of Police (ComPol) Chester Williams on Wednesday, April 5, the change in the law allows establishments to sell alcohol as usual. However, the San Pedro Town Council (SPTC) issued a note prohibiting the sale of liquor on Good Friday until 8PM. According to local authorities, this allows traditional church services/activities to occur throughout the day.
Business & Economy
BIFSA President Reynaldo Magana invited as Guest Speaker to Caye International Bank’s Q1 2023 Board Meeting
Caye International Bank (CIB) held its first board meeting of 2023 on Friday the 24th of March at its headquarters on Ambergris Caye. Board members from the Caribbean, North America, and Europe descended on the island to discuss strategic direction, and new developments for the bank in the wake of recent shocks to the U.S. banking system.
Business & Economy
San Pedro Tour Operators meet to discuss issues affecting the island’s tourism industry
The tourism industry is considered the pillar of the economy in San Pedro, Ambergris Caye. As the island continues to expand, so does the need for essential services from the governing authorities. With this in mind, the San Pedro Tour Operators Association (SPTOA) met on Thursday, March 30th, to discuss various issues affecting their businesses.
Business & Economy
Government plans on addressing inflation affecting Belizeans
The continued increase in the price of goods and services is taking a toll across Belize. In areas like San Pedro, Ambergris Caye, where the cost of living is higher, the situation is more alarming. Island residents report that prices for basic food items increase weekly, adding to the struggle to survive. While inflation has become a worldwide issue, the Government of Belize (GOB) has discussed the matter and, on Thursday, March 30th, announced several measures to address the concerning problem.
Business & Economy
Central Bank Governor and President of Caye International Bank meeting
The Central Bank of Belize Governor, Kareem Michael and President of Caye International Bank, Luigi Wewege met on the margins of The Annual Meeting of the Boards of Governors of the Inter-American Development Bank and IDB Invest. This conference was held in Panama City, Republic of Panama, from the 16th to the 19th of March 2023.
Business & Economy
Belize validates strategy to upgrade its soursop industry
Stakeholders from the public and private sectors agree on major areas for upgrading the soursop value chain to increase production, and create opportunities to increase access to local, regional, and extra-regional markets.
Business & Economy
Belize Bank and American Express formalize partnership in Belize
On Wednesday, January 18th, the Belize Bank Limited, and American Express partnership was made official at an event celebrated at the Alaia Hotel south of San Pedro Town. The agreement now allows American Express cardholders to process transactions in Belize following a contract with Belize Bank.
