Portofino Resort- Now with a new BEACH BAR!!
Page 1 of 2 1 2 >
Topic Options
#199396 - 08/05/06 11:52 PM BANK SAFETY
Loansum-Al K Offline
I posted this question on a previous but did not receive an answer. With the Belize government's present debt situation, what is the general feeling about the soundness of the Belize banks? eek
I'm happier than a pig in s__t...a foot on the sand...and a Belikin in my hand!

#199397 - 08/06/06 01:54 AM Re: BANK SAFETY
GBZ39 Offline
Banks should be OK.
Worry about a devaluation.
However most property, etc. is quoted in US$.

#199398 - 08/06/06 02:28 AM Re: BANK SAFETY
wonderwoman Offline
Hi Al, banks and the country have been talking for about 20 years on devaluation. No happen yet. Don't see any problem with all my friends who happen to have money!
Can't find my plane...

#199399 - 08/06/06 01:49 PM Re: BANK SAFETY
Amanda Syme Offline
None of the banks are calling around to "reassure" anybody - so everything is status quo - at least on the surface.

#199400 - 08/06/06 02:55 PM Re: BANK SAFETY
GBZ39 Offline
Having been thru a few devaluations....personal and business wise....the REALLY smart money has ALREADY left Belize or is in the process of leaving.

It makes sense to hedge one's bets...even if there is NOT a devaluation.

#199401 - 08/06/06 05:13 PM Re: BANK SAFETY
Richard Chambers Offline
There is no FDIC in Belize. wink

#199402 - 08/09/06 12:27 AM Re: BANK SAFETY
Catatonic Motivator Offline
Correct. I think we're about to see the financial meltdown that's been so apparent for the past several years actually occur.

It'll be interesting to see who sticks around for it and who cuts and runs.
* I Go Pogo *

#199403 - 08/09/06 12:10 PM Re: BANK SAFETY
Diane Campbell Offline
The most significant debts currently at issue are foreign ones, and must be paid in USD.
Devaluation of the Belize dollar would increase the difficulty of paying the debts.

#199404 - 08/09/06 12:30 PM Re: BANK SAFETY
Ernie B Offline
I recently discussed this with someone who is in the money business and lives in SP. The only bank that has had any problems is Provident. Some questions about their off shore accounts ie; illegal funds from gambling and/or drug money. Belize banks are required to have greater reserves than even US banks and their ratios are higher. I agree with Diane in that a devalution would increase the diffuculty in paying the debts owed by GOB. Im sticking around.
Gun Control is Hitting Your Target.

#199405 - 08/10/06 12:46 AM Re: BANK SAFETY
GBZ39 Offline
Traditionally a devaluation is used to foster exports and hinder imports. This should improve the balance of payments problem.

It is a mess for the local economy while they sort out what they should be doing and it doesn't happen overnight.

Page 1 of 2 1 2 >

Click for excellent scuba lessons with Elbert Greer!

Things to do

Daily News
Daily Weather

Classified Ads
San Pedro Sun
Ambergris Today
SP Town Council
Channel 7
Channel 5
Love FM
The Reporter
Caye Caulker

TV Newscasts
Radio Stations

Click for our
Search thousands of Belizean-only websites

Event Guides
Event Calendar
Specials & Events
Things to Do
iTravel Belize
Paradise Theater

San Pedro Scoop!
Tia Chocolate
My Beautiful Belize
I-Travel Belize
Belize Adventure
Belize Hub
Romantic Travel
Bound for Belize
Conch Creative
As The Coconuts Drop
More Blogs...
Search thousands of Belizean-only websites
Chaa Creek is an award-winning luxury Belize Resort, rated as one of the worlds best Eco Lodges. We are a pioneer in adventure travel to Belize since 1981!
White Sands Dive Shop - 5 Star PADI Dive Facility - Daily diving, SCUBA instruction and Snorkeling
Caribbean Inspired All Natural Condiments & Spice Blends, Over 100 are Gluten Free!
We manage a variety of homes, apartments, condos and commercial properties here on Ambergris Caye. Our minimum lease on ALL properties is six months.
Conch Shell Inn: All rooms are right on the beach in the heart of San Pedro, so within walking distance to anything and everything!!
Lilí Alphonse has snorkel equipment to fit anyone as well as Marine Park Tickets and flotation devices to assist those not as experienced.
Coastal Xpress offers a daily scheduled ferry run to most resorts, restaurants and private piers on the island of Anbergris Caye. We also offer  private and charter water taxi service.
Mini Chat

Cayo Espanto
Click for Cayo Espanto, and have your own private island
More Links
Click for exciting and adventurous tours of Belize with Katie Valk!
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 31
Who's Online
3 registered (lovey and thurston, 2 invisible), 47 Guests and 5 Spiders online.
Key: Admin, Global Mod, Mod
Forum Stats
18,718 Registered Members
44 Forums
64,370 Topics
463,197 Posts

Most users ever online: 1,262 @ 06/10/07 07:16 PM

AmbergrisCaye.com CayeCaulker.org HELP! Visitor Center Goods & Services San Pedro Town
BelizeSearch.com Message Board Lodging Diving Fishing Things to Do History
BelizeNews.com Maps Phonebook Belize Business Directory
BelizeCards.com SanPedroDaily.com Picture of the Day

The opinions and views expressed on this board are the subjective opinions of Ambergris Caye Message Board members
and not of the Ambergris Caye Message Board its affiliates, or its employees.