74 F
Belize City
Sunday, May 31, 2020
Home Letters Romel Cuello discusses border biz at Santa Elena

Romel Cuello discusses border biz at Santa Elena

Dear Sir,

Everything is supposed to be back to normal at the Santa Elena Border on trading with Mexico: lamentably it is not. There is a new Mexican broker agency but the speed of dispatching is way below par. Some trucks are still waiting from last week Tuesday.

This is very expensive for Belizean businessmen since we have to foot the bill. Even the customs officers on our side are complaining about how poor the revenue stream is. This will definitely affect government’s financials.

The former broker agency who could get all trucks going in one day is trying hard to restart his business but Mexico is not Belize and we can cry as much as we want but will have to wait until these new ones learn the ropes.

Belize’s trade deficit with Mexico is so huge that official exchange rate should have us at $6.45 pesos for $1.00 Bze but we only receive $6.15 on the informal market. That is a 5% loss and on the millions Belizeans spend in Mexico, we are losing big time.

Why is this? I have suggested before that we make the Belize dollar legal tender in the Commercial Free Zone so as to create a demand for our currency, making it more valuable. As it is, the U.S. dollar and the Mexican peso are worth more.

Just saying.

Romel Cuello

- Advertisment -

Most Popular

Double murder in Hopkins

HOPKINS, Stann Creek District, Fri. May 22, 2020-- At about 9:30 this morning, two men were found dead on a farm on the Hopkins...

Compol Chester Williams talks to San Victor and Santa Cruz villagers

SAN VICTOR, Orange Walk District, Fri. May 22, 2020-- After getting several reports that villagers of San Victor and Santa Cruz, located in the...

Pain in silence

In honor of my dad and uncles (sons of Nora Parham) — we love you! As a little girl growing up, I always wanted to...

Police: Princess security guard killed himself

BELIZE CITY, Fri. May 22, 2020-- At about 11:30 Wednesday morning, Earl Underwood, 23, a security guard on duty at the Princess Hotel and...