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Oil tops US$100 as Iran conflict augurs pressure on Belize's fuel costs
Global oil prices climbed above US$100 a barrel on Thursday as renewed conflict involving Iran disrupted major shipping routes, raising the prospect of higher fuel prices in Belize, where transport costs are already the largest driver of inflation. Brent crude, the international benchmark that influences fuel prices in Belize, rose to US$100.60 per barrel on Thursday, while U.S. benchmark West Texas Intermediate (WTI) climbed to US$91.63. The surge follows escalating military
13 hours ago
BPF Pushes 'Buy Belize First' Policy to Boost Local Economy
Belize People's Front Leader Nancy Marin is calling for a "Buy Belize First" procurement policy, arguing that government spending should prioritize Belizean-made goods to strengthen local businesses and reduce the country's dependence on imports. Marin unveiled the proposal as part of a broader economic policy statement in which she argued that government procurement should become a tool for building domestic industries rather than supporting overseas producers where local al
13 hours ago
Deposit Rates at Record Lows as Bank Liquidity Remains Elevated
Belize's weighted-average deposit rate remained near a record low at 0.816% in May 2026, after falling to an all-time low of 0.780% in March, underscoring how abundant banking-system liquidity is reshaping returns for savers while lowering funding costs for banks. The weighted-average deposit rate stood at 0.816% in May 2026, according to the Central Bank of Belize's latest interest rate statistics. While slightly higher than the record low of 0.780% recorded in March 2026, i
13 hours ago
Economy
Global Institutions: Crisis Easing; Not Yet Over
The world's principal institutions overseeing energy, finance, development and trade say the immediate shock from the Middle East war is easing, but warned that the global economy remains vulnerable and governments should remain prepared for further disruption. In a rare joint statement issued after a high-level coordination meeting on July 7, the heads of the International Energy Agency (IEA), International Monetary Fund (IMF), World Bank Group and World Trade Organization s
Income Up 13.3%, But Food Prices Erode Gains
BELIZE CITY, Thurs. July 2, 2026 — Average monthly income in Belize has risen 13.3 percent over the past four years, outpacing headline inflation of nearly 11 percent, but the sharper 18 percent increase in food prices suggests many lower-income households may have seen little improvement in their purchasing power. The latest Labour Force Survey released by the Statistical Institute of Belize (SIB) shows that employed persons earned an average of $1,525 per month in April 202
WHERE HAVE THE WORKERS GONE?
Belize City, June 25, 2026 — Belize's unemployment rate has fallen to a record-low 1.9 percent but so has the number of Belizeans with jobs.
Politics
BCCI to GOB: Why Wait? Strengthen Controls Now
The Belize Chamber of Commerce and Industry (BCCI) is urging the Government to immediately strengthen financial controls over public procurement, arguing that many reforms can be implemented now without waiting for ongoing investigations or a broader review of procurement laws. In a June 29 letter to Prime Minister John Briceño, BCCI President Giacomo Sanchez said the recent procurement and payment-processing irregularities should serve as an opportunity to strengthen the sys
Briceño Convenes Special Cabinet Meeting on Procurement Amid Heightened Scrutiny
Prime Minister John Briceño convened the full Cabinet and chief executive officers for a special meeting on public procurement this week as the government continues to face scrutiny over procurement practices involving the Ministries of Home Affairs and Defence. The session was designed to review procurement best practices, legislative requirements and recurring weaknesses identified through government audits. The meeting featured presentations from the Financial Secretary, C
'You Can't Boss Us Around': EBC Cites Constitution to Resist FOIA Request
The Elections and Boundaries Commission says Belize's Freedom of Information Act cannot compel it to release redistricting records, arguing the Constitution places the Commission beyond the direction or control of outside authorities. In a response to public interest litigant Jeremy Enriquez, the Elections and Boundaries Commission (EBC) rejected an expansive Freedom of Information request seeking records relating to Belize's long-delayed electoral redistricting exercise. The
General
Global Institutions: Crisis Easing; Not Yet Over
The world's principal institutions overseeing energy, finance, development and trade say the immediate shock from the Middle East war is easing, but warned that the global economy remains vulnerable and governments should remain prepared for further disruption. In a rare joint statement issued after a high-level coordination meeting on July 7, the heads of the International Energy Agency (IEA), International Monetary Fund (IMF), World Bank Group and World Trade Organization s
'You Can't Boss Us Around': EBC Cites Constitution to Resist FOIA Request
The Elections and Boundaries Commission says Belize's Freedom of Information Act cannot compel it to release redistricting records, arguing the Constitution places the Commission beyond the direction or control of outside authorities. In a response to public interest litigant Jeremy Enriquez, the Elections and Boundaries Commission (EBC) rejected an expansive Freedom of Information request seeking records relating to Belize's long-delayed electoral redistricting exercise. The
Senate Inquiry highlights need for corruption reforms
Business community Senator Kevin Herrera said this week that the testimony of Portico developer David Gegg has highlighted the need for...
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