We’ve been covering the tough road infrastructure challenges sugarcane farmers in the north are dealing with, but that’s not their only struggle. Prime Minister John Briceño pointed out that securing financing is a major hurdle for these farmers. He explained that they often must take out loans with interest rates as high as fourteen percent because it’s their only option. P.M. Briceño shared his plans to change this situation with reporters.
Prime Minister John Briceño
Prime Minister John Briceño
“One idea we have been playing with, and we have not fully worked it out, but there is a lot of liquidity in the system. One of the challenges our farmers have is the issue of financing. They get these one year financing loans from the bank and the interest rates are as much as fourteen percent. They are gouging them. So, every year they have to renew. When you run on the same spot or just going backwards, one idea we are looking at is providing the financing. The idea is to use this excess liquidity, pass it on to DFC, DFC could go to the farmer, I could go to DFC and say ok, I owe ten thousand dollars. We will pay of your ten thousand and another five thousand to rebuild, but then give you three, four years. At a lower interest rate, it gives them breathing space to rebuild their fields.”
The USpace Hub has officially arrived in Dangriga! This exciting initiative from the Ministry of Education aims to boost computer skills and innovation. Now, Dangriga residents, especially youths, can dive into learning coding and robotics at the brand-new Ignacia Cacho Library. News Five’s Britney Gordon has all the details.
Britney Gordon, Reporting
No matter your age, everyone can learn something new. Now, students and residents of Dangriga have the chance to dive into exciting educational and technological opportunities at the USpace Hub in the Ignacia Cacho Library. Area Representative Louis Zabaneh shared more about this innovative space with us.
Louis Zabaneh
Dr. Louis Zabaneh, Area Representative, Dangriga
“The Ministry of Education, Culture, Science, and Technology have been across the country, Corozal Orange Walk and now Dangriga opening up these USpaces that are very exciting with the times. So that we could provide our young people with a very special environment for which they can use technology and certainly also perhaps after school or on weekends be able to access information that they might not otherwise be able to do. So this investment from the ministry along with our partners at UNICEF is significant for our people across the country.”
Built in partnership with UNICEF, this space offers a wealth of resources for all ages. Visitors can access digital devices and develop skills in areas like robotics and coding. UNICEF Education Officer Natasha Mantock shared that these hubs are designed to spark creativity and innovation.
Natasha Mantock
Natasha Mantock, Education Officer, UNICEF
“Today, we gather to celebrate a milestone in our digital transformation agenda under the Team Connection to underscore the critical need for safe, child-friendly spaces where accesses to services and resources are needing. What fitting place but the Ignacio Library, where children of Dangriga will be safe to explore in our USpace. It is pivotal in leveraging technology to transform and accelerate learning and skill development, represents a paradigm shift of how we can merge our traditional methods with our technology for children to be safe and learn.”
Zabaneh emphasized how crucial it is to provide access to these resources, noting that many Belizeans can’t afford to pursue these skills through higher education.
Dr. Louis Zabaneh
“Dangriga is very grateful. Dangriga, Sarawee, and Hope Creek, we’re grateful for this investment because we know that there are many of our families who cannot afford to purchase this kind of technology. And now we have within the Ignacio Cacho library under the Belize National Library Service a space for them to be able to do some exciting work and fit into the fourth industrial revolution, which is all about science, technology, and innovation.”
This USpace is the fourth to be launched in Belize and the government intends to roll them out countrywide.
Dr. Louis Zabaneh
“With increased investment in more safe spaces across this country, we willcontinue to equip children with necessary skills, and for them to have a deeper appreciation and understanding of the power of education, culture, technology, and science. To empower every child with the tools and knowledge needed for them to strive in this new, rapidly evolving world. We are especially pleased to see the youth space really, really inviting our girls, UNICEF prioritizes adolescent girls and continue to support. Closing this digital divide requires global cooperation, leadership, innovation in finance and technology. Belize has taken this bold step. Belize has taken this bold step.”
USpace aims to offer training beyond the traditional classroom, giving residents the chance to learn skills they might not otherwise have access to.
Dr. Louis Zabaneh
“It’s all about exposure, right? So if we are saying that we’re taking an audacious view with respect to science, technology, and innovation, we don’t want just to be consumers, but producers going forward. Then that means that our people, especially our young people need to be able to, to adopt that culture from a very young age a culture where they become very, very comfortable with technology and in particular with the process of science and innovation.”
The USpace Hub has officially arrived in Dangriga! This exciting initiative from the Ministry of Education aims to boost computer skills and innovation. Now, Dangriga residents, especially youths, can dive into learning coding and robotics at the brand-new Ignacia Cacho Library. News Five’s Britney Gordon has all the details.
Osmond Martinez
Dr. Osmond Martinez, Area Representative, Toledo East
“I must say that one of the key points. I have captured is to unlock the digital era, you know, and to enable an environment for young people. I mean, today, no one will teach you how to send an email. No one will teach you how to navigate or to navigate through the internet. No one will even teach you how to do how to send WhatsApp messages or anything. We are expecting that the kids will be born with it. And so, we need to change that. I have visited this library about two times with today, and the first time I came it was empty. And I see a lot of kids here today, but, you know, please make use of it. You know, and you have my support and we will work together. Remember, the secret to get out of poverty is through education. And we welcome the youth peers. Lead like a girl. I have no problem with that. My mother, my wife, my daughter, you know, I’m proud of them. And so I’m so happy to see that today we are going to launch a historical moment for Punta Gorda with an impact to the Toledo district, where we will unlock the digital opportunities, and remember we are in the digital era, which means that if you are not familiar with how to navigate your digital systems, and of course, you know, we will have to compete with AI. So you have to be smarter than AI, you have to know more than AI, and if anything, just develop AI.”
The Central Bank of Belize this evening unveiled Belize’s new currency notes. The new notes feature the images of two national heroes: George Cadle Price and Phillip Goldson. Central Bank Governor, Kareem Michael, said, “Both heroes were proud, fearless Belizeans.”
The bank notes will be released at around June/July.
The Central Bank stressed that while the new banknotes featured different designs, their value remained unchanged. A dollar still equalled a dollar, and the exchange rate stayed steady at two Belize dollars to one U.S. dollar. It was noted that removing the monarch’s portrait was not unprecedented, as Belize joined a growing number of Commonwealth countries that transitioned away from featuring Queen Elizabeth II on their currency.
Earlier this week, Prime Minister John Briceño told reporters, “It is a beautiful note.”
The new notes are more modern and equipped with enhanced features to prevent counterfeiting. “It is something that Belizeans will accept, and it is our people on our note,” Briceño added.
A Belizean man has gone missing after travelling to Chetumal, Mexico. Vincent Young, 34, was last seen on November 13, 2024, around 3:45 p.m. in Corozal. Records show that he entered Mexico but has not returned to Belize. His family is now seeking answers since Young’s whereabouts remain unknown.
Sally Lou Young, Vincent’s sister, told News 5 that her brother simply told their mother he was heading to Mexico, but no further details were given. “What he was doing with who, when, where, and why we don’t know,” she said.
After filing an official report with the Corozal police, the family travelled to the Chetumal border and confirmed Vincent entered Mexico legally on November 12. However, there is no documentation of him returning to Belize.
“He went legally into Mexico in his personal vehicle. He entered Mexico and hasn’t returned. As of now, that’s all we know,” Sally Lou said.
Sally Lou stated that the situation is now “international,” making it more complicated for the family to intervene directly. She said Belizean and Mexican authorities are continuing their investigation. She added, “If anyone happens to see him, hear of him, or call them to contact the family,” to let the family know.
Sugarcane farmers in the north have long reported their struggles with poor road infrastructure, but the financial burden they face is equally concerning. Prime Minister John Briceño is calling this financing system “gouging” and proposing a bold solution.
“One of the challenges our farmers have is the issue of financing. They get these one-year financing loans from the bank, and the interest rates are as much as fourteen percent,” Briceño said, adding, “They are gouging them.”
Briceño explained that this high interest rate forces farmers to continually renew their loans, leaving them stuck in a cycle of debt with little room for growth. To address this, the Prime Minister has proposed a new plan. “One idea we are looking at is providing the financing… using this excess liquidity, passing it on to DFC, and DFC could go to the farmer.”
This proposal aims to lower interest rates and offer farmers longer repayment periods, giving them much-needed breathing room to rebuild their fields, according to Briceño.
In late 2024, reports emerged that the government was considering raising the hotel tax from 9% to 12.5%. Although the Ministry of Tourism has not made a final decision, the proposed increase is part of a broader plan to reform tourism taxes.
On Wednesday, Prime Minister John Briceño told reporters, “We have invested tens of millions of dollars in the tourist industry, and taxpayers have paid for it.” He added that Belize has made significant public investments to support the industry in infrastructure development and marketing, which has led to Belize having “the fastest growing tourism in the region.”
“So now that we have done all that. I think it is only fair to get back some of that money and give the relief to people who need it most,” Briceño said.
On a single day in March 2024, Belize welcomed the highest number of visitors ever recorded, with 16,000 passengers arriving on its shores. The Belize Tourism Board (BTB) had projected that 2024 will not only meet but surpass pre-pandemic levels, making it a historic year for the industry.
“I do believe the tourism industry needs to pay their fair share,” Briceño added.
Belize’s trade figures for November 2024 show a mixed bag, with imports soaring by 10.2% to $230.4 million compared to $209.1 million in November 2023. Meanwhile, exports took a hit, primarily due to a dramatic drop in sugar exports. The country saw strong growth in categories like ‘Machinery and Transport Equipment’ and ‘Food and Live Animals,’ but a sharp decline in ‘Mineral Fuels and Lubricants’ and sugar exports raised concerns.
According to the Statistical Institute of Belize (SIB), the increase in imports was driven by significant purchases in several key sectors. ‘Machinery and Transport Equipment’ led the charge, rising by 36.5% to $61.9 million, with high-value items such as airplanes and heavy-duty trucks boosting the total. Meanwhile, imports into the Commercial Free Zone grew by $8.9 million, reflecting higher demand for footwear and floor fans.
The ‘Food and Live Animals’ category also saw a substantial uptick, climbing by $8.1 million due to imports of wheat and orange concentrate. The SIB reported that a major decline in ‘Mineral Fuels and Lubricants’ occurred, which dropped by $8.3 million as the country imported no diesel fuel in November.
On the export side, the SIB reported that Belize’s total exports fell slightly by 2.3%, totalling $22.3 million. The sharpest decline was in sugar exports, which plummeted by over 75%, dropping from $6.5 million in November 2023 to just $1.4 million. Conversely, Citrus Products saw a massive boost, with exports tripling to $3.5 million. This was driven by a surge in orange concentrate sales.
Despite these fluctuations, the SIB stated that the overall export trend for the first eleven months of 2024 remained stable, with a slight 0.4% increase compared to the same period last year.
Belizeans are feeling the pinch as prices surged 2% in November 2024 compared to the same month last year. This increase was mainly driven largely by increased costs in food, housing, and restaurant services, according to the latest Consumer Price Index (CPI) report from the Statistical Institute of Belize.
The overall national inflation rate stood at 120.1 for November 2024, up from 117.7 in November 2023.
Food prices alone contributed almost half of the inflation, with a 3.6% increase in the cost of food and non-alcoholic beverages. Key items like pineapples, watermelons, and limes saw price hikes of 14.7%, while everyday essentials like breads and tortillas went up by 3.4%. Meanwhile, housing costs also rose by 2.5%, with increased rental prices and a rise in LPG prices.
In contrast, transport costs dipped by 0.8%, largely due to a drop in fuel prices. The price of diesel fell by $1.13 per gallon, and regular gasoline saw a decrease of $0.71. However, passenger transport services, including taxis and international flights, became more expensive.
Belmopan and Corozal recorded the highest inflation rates at 4%, with notable price increases in food, household goods, and rentals. On the other hand, Independence saw minimal change in prices, with an inflation rate of nearly zero.
For the year to date, inflation stands at 3.3%, primarily driven by food and housing costs. Prices in most categories have increased, while communication equipment like cell phones has seen a decline.
According to the Statistical Institute of Belize (SIB), Belizeans are feeling a bit more optimistic about the economy as the country’s Consumer Confidence Index (CCI) in Belize rose slightly by 0.9% in November 2024, reaching 44.7, up from 44.3 in October.
This marks a recovery after a dip in previous months.
The CCI measures how consumers feel about the economy, their personal financial situation, and their willingness to make significant purchases like homes or cars. An index above 50 indicates general optimism, while anything below signals more pessimism.
SIB reports that the rise in November was driven by improvements in consumers’ views of both their current financial situations and their expectations for the future. The ‘Present’ component, reflecting current financial sentiments, increased by 3.6%, while ‘Expectations’ about future conditions grew by 3.5%. However, consumer sentiment regarding major purchases of durable goods, such as appliances and vehicles, saw a decline of 5.8%.
Urban areas saw a more significant boost in confidence, especially in future expectations, with an increase of 7.1%. Rural areas also showed optimism, though more modestly, with a 0.7% increase.
While men experienced a notable 4.9% rise in confidence, particularly about their present financial situation, women saw a slight decline of 2.9%, due to lower confidence in making large purchases.
Age-wise, younger groups, especially those aged 18-24, reported the highest increase in confidence, with a 5.7% rise. However, those aged 25-34 saw a drop of 7.1%.
The index reflects shifting moods in the country, with a general trend toward optimism but cautious outlooks on major spending, according to the SIB.
