Previous Thread
Next Thread
Print Thread
Page 1 of 2 1 2
#199396 08/05/06 05:52 PM
Joined: Jun 2005
Posts: 2,018
OP 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 08/05/06 07:54 PM
Joined: Aug 2005
Posts: 222
G
Offline
G
Banks should be OK.
Worry about a devaluation.
However most property, etc. is quoted in US$.

#199398 08/05/06 08:28 PM
Joined: May 2001
Posts: 440
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 07:49 AM
Joined: May 2000
Posts: 7,050
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 08:55 AM
Joined: Aug 2005
Posts: 222
G
Offline
G
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 11:13 AM
Joined: Oct 2000
Posts: 717
Offline
There is no FDIC in Belize. wink

#199402 08/08/06 06:27 PM
Joined: Apr 2002
Posts: 591
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 06:10 AM
Joined: Oct 2001
Posts: 6,267
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 06:30 AM
Joined: Sep 2002
Posts: 10,850
E
Offline
E
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.

#199405 08/09/06 06:46 PM
Joined: Aug 2005
Posts: 222
G
Offline
G
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

Link Copied to Clipboard
March
S M T W T F S
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
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!
Who's Online Now
0 members (), 304 guests, and 0 robots.
Key: Admin, Global Mod, Mod
Forum Statistics
Forums44
Topics79,199
Posts500,011
Members20,460
Most Online7,413
Nov 7th, 2021



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 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.

Powered by UBB.threads™ PHP Forum Software 7.7.5