Removing the Queen from the Belizean Dollar Would Come at a High Cost

For the family of notes and coins to be changed and gradually taken out of circulation, such a move would be protracted and come at a significant cost to the country.  According to the Central Bank Governor, only the financial regulator has the authority to issue legal tender.

Kareem Michael

Kareem Michael, Governor, Central Bank of Belize

“I don’t believe, and I think it’s the Central Bank’s position, that with the Queen’s death and this has to be clearly stated, it doesn’t change at all, and this has to be emphasized, the fact that these notes and coins in circulation which is, only the Central Bank has the right to issue these as legal tender, changes it from being legal tender.  It doesn’t all.  I mentioned earlier that past presidents, past heroes are on a number of national issued currencies across the jurisdiction.  But if that decision were to be made then we are looking at a significant cost and a long drawn out process to change the family of notes currently in circulation with the queen’s face on it.”