Frequently Asked Questions

What is the Balance of Payments?

The balance of payments is a measure of the value of transactions between residents of Belize and residents of foreign countries. It provides a picture of the goods, services and financial flows into and out of the country in any given period. 

 

Inflows of a current nature include earnings from exports of goods, tourism and other services, factor income and gifts. Current outflows include payments for imports of goods and services from abroad, and returns to production inputs of non-residents in the form of wages, interest, dividends and profits.

 

The capital account measures financial inflows and outflows connected with direct investment, earnings and repatriation of profits as well as borrowing and loan repayments by the Government and the private sector. Like the current account, this account can be in deficit or surplus depending on the relative sizes of inflows and outflows.

 

The Central Bank currently estimates the value of the balance of payments on an annual as well as on a quarterly basis.

What is the difference between commercial banks and offshore banks?

Locally licensed commercial banks conduct business with residents of Belize whereas offshore banks that are licensed in Belize may only undertake transactions with non-residents.  

Who prints and mints our currency notes and coins?

The security company De La Rue based in the UK prints our banknotes while the Royal Mint, also in the UK mints our coins.

How can I open an account with the Central Bank of Belize.

The Central Bank of Belize does not hold accounts for individuals.  It holds accounts only for commercial banks, Government of Belize, statutory bodies and foreign loan institutions.