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Nov 22, 2019

Belize Fades from Black to Grey List in EU Designation

Joseph Waight

With recent news of Belize being removed from the European Union’s list of non-cooperative jurisdictions, is the country doing enough to turn around its status?  And what about funds received through EU grants, were those affected by the blacklisting?  On Thursday, Financial Secretary Joseph Waight responded to those questions, admitting that there is more work to be done for Belize to remain compliant with the EU’s latest designation.

 

Reporter

“In relation to the EU blacklisting, in terms of any funding that would have been caused that we’d get from them, did that happen during that short period?”

 

Joseph Waight, Financial Secretary

“No, none at all.”

 

Reporter

“So no effect?”

 

Joseph Waight

“No effect.  Well, you know, we’re trying to comply.  We’re now off the blacklist and there’s another more…”

 

Reporter

“Because we’re now on the grey-list, correct?”

 

Joseph Waight

“Indeed, we have to do more work but there will be a meeting of the house shortly with some amendments to the bills on the tax matters but even while we’re on the “blacklist” there was no defensive measures as they call it, there was no penalties to Belize and I don’t think the European has itself determined what is a consistent set of measures.”


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