PM Briceño Says Credit Ratings Strengthened Belize’s Position in Global Financing Talks

Prime Minister John Briceño says Belize’s recent credit assessments gave the country a stronger standing in discussions with international financial institutions in Bangkok, Thailand. Speaking with Love News, Briceño said the ratings helped strengthen Belize’s position as his delegation sought support for the country’s development priorities.

In September, Moody’s upgraded Belize’s rating from Caa1 to B3, with a stable outlook. The agency recognised progress in reducing public debt, building foreign reserves and maintaining a primary surplus, meaning government revenue exceeded spending before interest payments. Standard and Poor’s, meanwhile, maintained Belize’s B-minus long-term and B short-term ratings in August, also with a stable outlook.  Briceño led Belize’s delegation to the IMF and World Bank Annual Meetings, held from October 12 to 18. Among those participating were Minister of Economic Transformation Dr. Osmond Martinez and Financial Secretary Joseph Waight. The meetings brought together finance ministers, central bank governors and development partners to discuss economic conditions and financing.  Belize’s discussions focused on energy, agriculture and the growing cost of dealing with sargassum. The delegation also met with representatives of the IDB and Caribbean Development Bank. Briceño participated as chairman of the World Bank’s Small States Forum, which presses for financing and support suited to smaller economies.