G.O.B. Releases Statement on Pandora Papers

The publication of several international articles by a consortium of global journalists using information gleaned from thousands of documents termed the “Pandora Papers,” has placed a spotlight on Belize’s offshore banking sector, as well as international financial services.  The naming of one Belizean firm and the overall reports has prompted the Government of Belize to issue a release clarifying several points, including the establishment of the sector over thirty years ago. G.O.B. says that not only is the industry legitimate and viable, it represents an annual contribution of fifty million dollars to Belize’s gross domestic product.  According to the statement issued by G.O.B. earlier today, the reports published by the International Consortium of Investigative Journalists give the impression and allege that there is illegality taking place within the industry, among practitioners.  The Briceño administration reiterates that it does not countenance and will not permit the use of the industry to engage in money laundering, terrorism financing and corruption, among other forms of criminal and unlawful activities.