April 28, 2026
The Board of Directors of the Central Bank of Belize (the Central Bank) notes the continued circulation of misleading advertisements that seek to undermine public confidence in the Governor and the integrity of the Central Bank.
The Central Bank operates within a clearly defined legal and governance framework established by Parliament. Its mandate is derived from the Central Bank of Belize Act and other applicable legislation, which together guide its responsibility to promote monetary and financial stability in Belize.
The Board reaffirms that the Central Bank functions under the direction and oversight of its Board of Directors. The Governor, as Chief Executive Officer, does not act independently but executes policies and decisions determined within this governance structure. The authority of the Central Bank, therefore, flows from Parliament through its legislative mandate and is implemented collectively through the Board and the Central Bank’s Executive Management.
In this context, the suggestion that the Governor or any functionary of the Central Bank is solely or individually responsible for decisions taken by the Central Bank within its mandate, is misleading and is not reflective of the Central Bank’s decision-making process. The Central Bank’s actions are taken by its Executive Management Team within a structured framework of collective oversight and legal authority and should be understood on that basis.
The Board further underscores that Belize’s legal system provides established avenues for redress. Insofar as any party, including a licensee, is aggrieved by the actions of the Central Bank, that party has access to due process under the principles of natural justice through the courts.
The ongoing dissemination of misleading information through paid advertisements and personal attacks on the Governor of the Central Bank is a vain attempt at addressing grievances with respect to the Central Bank’s regulatory actions and is unlikely to result in a successful resolution of such grievances. The said actions are intended to, and do, erode trust in Belize’s financial system and may have broader implications for financial stability.
The Central Bank of Belize remains steadfast in its mandate to safeguard the stability and integrity of the country’s monetary and financial systems and encourages constructive engagement through appropriate and lawful channels.
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