Tag:
International Monetary Fund
Business & Economy
Possible Hotel Tax increase in discussion
Following reports of a potential increase in the hotel tax from 9% to 12.5%, the tourism industry has expressed concerns. However, the Ministry of Tourism has clarified that this is part of a broader tax reform discussion, and no decision has yet been made.
Government
Belize is Fully Eligible for the South Korean Economic Development Cooperation Fund
Hon. Christopher Coye, Minister of State in the Ministry of Finance, Economic Development, and Investment; Dr. Osmond Martinez, CEO in the Ministry of Economic Development; and Central Bank Governor Mr. Kareem Michael held bilateral meetings on day two at the International Monetary Fund/World Bank Annual Meetings in Marrakech, Morocco, to discuss Belize's movement towards sustainable development.
Government
Belize Meets with IMF, World Bank, IDB and Bilateral Development Partners on Access to Climate Finance, Crisis Financing and Renewable Energy Transition
On October 10, 2023, Hon. Christopher Coye, Minister of State for the Ministry of Finance, Economic Development and Investment, as the head of an official delegation from Belize, participated at the Caribbean Ministerial Meeting at the International Monetary Fund (IMF)/World Bank Annual Meetings in Marrakech, Morocco.
Government
High-Level Delegation Meets with Multilateral Development Banks, U.S. Government Agencies and Canadian Government Officials
Hon. Christopher Coye, Minister of State, Ministry of Finance, Economic Development and Investment, led a high-level delegation of Belizean officials to Washington, D.C., from April 19 to 22, 2022, for a series of meetings with senior representatives from the International Monetary Fund (IMF), the World Bank, the Inter-American Development Bank (IDB), the Millennium Challenge Corporation (MCC) and the U.S. Development Finance Corporation (DFC). The delegation also met with senior representatives from the U.S. Treasury and the Office of Comptroller of Currency and held a bilateral meeting with Hon. Harjit S. Sajjan, Canada’s Minister of International Development.
Business & Economy
Government to discontinue 10% salary cut for public officers
Public officers across the country are welcoming the news from the government that they will be receiving back the 10% of their salaries that had been taken away from them by the new administration in the new fiscal year. When the current government headed by Prime Minister John Briceno took office in 2020, they found it necessary to apply the salary cut to help build back the national economy devastated by the COVID-19 pandemic. Although public officers rejected the pay cut, they endured the salary reduction for months. According to PM Briceno, as of July 1st, all public servants will receive their full wage.
Business & Economy
Belize Participates in IMF-World Bank Group Annual Meeting
Hon. Christopher Coye, Minister of State in Finance, Economic Development and Investment, and Dr. Osmond Martinez, Chief Executive Officer in the Ministry of Economic...
Community and Society
Government of Belize Comments on International Monetary Fund’s Country Review
Prior to the November 2020 General Elections and thereafter, Prime Minister Hon. John Briceño and officials of this new PUP Administration have repeatedly shone a bright light on the disastrous mismanagement of the economy and public finances by the past UDP Administration. The IMF has now confirmed the grim assessment which Prime Minister Briceño outlined to the House of Representatives and the public during his report of January 8, 2021: that the economy was in a prolonged recession starting well before COVID-19; that the previous government had borrowed some $700 million in the pre-election period of 2019/2020; and that the UDP left behind an economic and fiscal wasteland.
Business & Economy
IMF preliminary report says Belize’s economy is growing
Despite residents voicing their struggles in the current Belizean economy, a report published on Monday, September 24th by the International Monetary Fund (IMF) states that the country’s economy has grown by an estimated 5.4%.
