_{Photo: Belize delegation}

by Charles Gladden

BELIZE CITY, Tues. Oct. 29, 2024

From October 21 to 26, a delegation from Belize attended the 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG) held in Washington, DC.

The delegation was led by Hon. Christopher Coye, Minister of State in the Ministry of Finance, Economic Development and Investment. It also included Carlos Pol, CEO in the Ministry of Economic Development; Joseph Waight, Financial Secretary; H.E. Lynn Young, Ambassador of Belize to the United States of America; Kareem Michael, Governor of the Central Bank of Belize; and Elvira Mendez, Counsellor for Belize at the IDB.

At the meeting with the IMF, Philip Jennings, Executive Director representing Belize for the IMF, led the charge along with representatives of other Caribbean countries in attendance. Conversations focused on Belize’s economic and fiscal performance, the state of the financial sector, tax and pension reform, expenditure management, and the government’s forward-looking policies and priorities. The Caribbean Ministerial Meeting gave a holistic view of the Caribbean’s common challenges, including cross-border issues and unifying solutions.

The World Bank meetings highlighted resilient infrastructure development, renewable energy, climate-resilient housing, non-communicable diseases, regional integration, disaster risk financing, and overall engagement between Belize and the WBG.

Also, there were discussions about Belize’s recent International Development Association (IDA) eligibility and two ongoing projects that are being carried out with these new long-term, interest-free concessionary resources – the Blue Cities and Beyond Project, and the Early Childhood Care and Education Project.

Belize also updated the World Bank on its request to become an observer member of the Secretariat for Central American Economic Integration (SIECA), and a full member of the Council of Ministers of Finance of Central America, Panama, and the Dominican Republic (COSEFIN), thereby increasing Belize’s regional integration.