Belize Retains Stable Credit Rating as Agriculture and Tourism Face Pressure

The Prime Minister also cited a recent Standard and Poor’s report, which reaffirmed Belize’s B-minus/B sovereign credit rating with a stable outlook. He described the assessment as independent confirmation of the Government’s sound management of the country’s finances.

Briceño acknowledged, however, that important sectors are being affected by external and climate-related pressures. Sugar production has fallen significantly due to fusarium disease and the mealybug infestation.  Government has allocated five million dollars to combat the pest and another three million dollars for disease eradication. A fifty-million-dollar Green Climate Fund project will also support five thousand cane farmers with replanting, irrigation, drainage, soil improvement and integrated pest-management practices.  And while agriculture faces those challenges, the Prime Minister says investor confidence in Belize remains strong.  Tourism, however, has experienced challenges from the heavy accumulation of sargassum.   Prime Minister acknowledged that the situation has affected tourist arrivals, particularly over the past several months.  He said the Belize Tourism Board, with support from the Government, has developed a response plan.

John Briceño, Prime Minister of Belize: “As it relates to investment during the financial year 2025/2026 alone the Belize Invest unit of BELTRAIDE facilitated thirteen approved investment projects valued at more than $255 million dollars associated with the creation of more than 900 jobs. The unit is also currently managing seven investment pending approval valued at more than $900 million dollars with the potential to generate more than 600 jobs. In tourism the waves of sargassum blighting the major shores of Ambergris Caye, Caye Caulker, Hopkins and Placencia have dented tourist arrivals particularly in the last few months. Again, the BTB with government’s support has formulated a rescue plan including using funds from BTB and grants and loans from the IFIs to fund the plan and the specialized equipment required to combat this menace.”