Restrictions Threaten Jobs of Water Taxi Employees
Since the COVID-19 pandemic in Belize, runs to and from San Pedro were stopped temporarily. When the lockdown was lifted for Ambergris Caye, traffic to the island resumed, but it [...]
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I.D.B. Invest and Atlantic Bank Team Up for Tourism Development
Stakeholders in tourism, particularly the micro, small and medium enterprises that were hit hardest by COVID-19, will now be able to access financing through a twenty million U.S. dollar loan [...]
The D.F.C. Gets Ready to Become a G.F.C. Accredited Entity
The Development Finance Corporation is on its way to become a Green Climate Fund accredited entity. It means that the D.F.C. will be able to provide access to funding for [...]
N.G.C. Receives $6M Loan from I.D.B. Invest
The National Gas Company began its operations back in May and has since been providing Belize with liquefied petroleum gas as the country’s sole importer. The private/public partnership was met [...]
Prime Minister Announces Members of the Economic Recovery Advisory Team
Prime Minister John Briceño today announced the members of the Economic Recovery Advisory Team. These members are tasked with getting the economy back on track. A working group of fourteen [...]
Saint Martin’s One Stop Auto Care – a Second Chance for Former Gangsters, Criminals
A second phase of the Empowering Communities to Empower Themselves initiative, funded by the U.S. Embassy Public Affairs grant, was launched today. Months ago, in the Yarborough community, a life [...]
Price for Premium Gasoline Decreases
The price for Premium gasoline will take a dip of thirty-one cents as of midnight tonight. The new price per gallon will be nine dollars and eighteen cents, down from [...]
Written on December 14, 2020 | Posted in Economy | Comments Off
Ten Percent Salary Cut for all Ministers as of New Year’s Day
A ten percent salary cut will ring in the New Year for all Cabinet members. The announcement was made this morning by Prime Minister Briceño who, after weighing the effects [...]
Fuel Prices are Going Up
Fuel prices are going up for regular gasoline will increase by forty-eight cents from eight dollars and sixty-one cents to nine dollars and nine cents per gallon, while kerosene will increase [...]
Written on December 10, 2020 | Posted in Economy | Comments Off
Consumer Prices Down by 0.5% in October 2020
If you felt the pinch of groceries and rent in October, you weren’t wrong. The Statistical Institute of Belize says that while consumer prices were down by zero point five [...]
Written on December 10, 2020 | Posted in Economy | Comments Off
Imports and Exports are Down!
Turning to external trade, the S.I.B. reports that imports are down by almost thirty percent and domestic exports are down over five percent in October 2020. Imports from January to [...]
Written on December 10, 2020 | Posted in Economy | Comments Off
COVID-19 Relief is This Year’s Christmas Cheer
Prime Minister John Briceño chaired another cabinet meeting today where nine hundred and thirty thousand dollars was approved for a special December COVID-19 Relief Fund to be equitably distributed among [...]
Belize’s Economy Declines by 13.1% for Third Quarter of 2020
Belize’s economy shrunk by thirteen percent in the third quarter of 2020. According to the Statistical Institute of Belize, during the months of July to September, the total value of [...]
Third Quarter Performance of the Agriculture and Livestock Sectors
During the S.I.B.’s press conference, Sabal delved into those numbers looking at how the different sectors performed. While the primary and secondary sectors recorded increases, the tertiary sector contracted by [...]
Tertiary Sector Reels from Lack of Productivity – Tourism Takes a Hit!
So, the hardest hit sector is the tertiary sector which accounts for the production activities of hotels, and restaurants, as well as wholesale and retail, and crude materials, personal goods, [...]
COVID-19 Forced Almost 40K People Out of Jobs!
During today’s press briefing the Statistical Institute also shared findings from the Labour Force Survey of September 2020. We’ll tell you a bit more about those findings later in the [...]
Will the Corozal Free Zone Re-open Before Christmas?
The government wants the Corozal Free Zone to reopen before Christmas. That is the plan, but the plan comes with a price which the stakeholders at the Free Zone will [...]
Unemployment Rate is 13.7 % for September 2020
The Statistical Institute of Belize’s Labour Force Survey for September 2020 puts the unemployment rate at thirteen point seven percent. Before we get into the details of this figure –we [...]
A Closer Look at the Labour Force Figures!
A closer look at the labour force figures by sex show that males stood at sixty percent. When analyzed by areas, eighty-two thousand are in urban centers while eighty-six thousand, [...]
A New B.T.L. Board of Directors, but Net Vasquez Still Has to Pay
There is a new Board of Directors at Belize Telemedia Limited headed by former Business Senator Mark Lizarraga as chairman. The recently constituted executive includes six directors, as well as [...]
Is Marconi Leal Junior’s Appointment on B.T.L. Board of Directors a Conflict of Interest?
The contract signed between Net Vasquez and B.T.L. which came into effect back in mid-January was endorsed by Marconi Leal Junior, in his capacity as Acting Chief Sales and Marketing [...]
Internal Audit Committee to be Established at B.T.L.
With a new B.T.L. executive also comes a new structure and administration of the company. According to Chairman Lizarraga, an internal audit department will be answerable to the board of [...]
Charting a New Course for B.T.L.
Does B.T.L. still maintain a competitive edge over other service providers in the country, despite a dismal economic performance? The chairmanship of the company is being assumed at a time [...]
Corozal Free Zone Prepares to Reopen Before Christmas
After nine months of dormancy, the Corozal Free Zone is set to reopen just in time for the Christmas shopping season. On Wednesday, Minister of Agriculture, Food Security and Enterprise, [...]
Adhering to Protocols is Important for CFZ Reopening
Vice Chairman of the Corozal Free Zone, Anil Hotchandani has also chimed in on the proposed reopening of the free zone in the days ahead. He says that while strict [...]
