The Central Bank of Belize released a summary of Governor Kareem Michael’s presentation to the National Trade Negotiating Commission on Belize’s exposure to a “global polycrisis” and the implications of recent US trade measures, calling for immediate, coordinated action to strengthen resilience and diversify economic linkages. The Governor framed the US announcement as a broader shift in US economic diplomacy with “multichannel” effects beyond tariffs, including services, supply chains, investment flows, remittances and aid. He highlighted Belize’s reliance on the US and value-chain exposure, pointing to early indicators such as a dip in tourism and contraction in merchandise imports. Under a moderate shock scenario, the Central Bank projects GDP growth could slow from 4.3% to 2.6% in 2025 with further deceleration into 2026, alongside proposed priorities that include investing in domestic resilience, strengthening regional ties and accelerating reforms, while the Bank continues monitoring indicators to support financial stability.
Central Bank of Belize 2025-05-19
Central Bank of Belize urges coordinated resilience and diversification response to US trade policy shifts and projects 2025 growth could slow to 2.6% under a moderate shock scenario
The Central Bank of Belize summarized Governor Kareem Michael’s presentation on Belize’s vulnerability to a "global polycrisis" and the impact of recent US trade measures, urging coordinated action to enhance resilience and diversify economic connections. The Governor noted a shift in US economic diplomacy affecting services, supply chains, and investment, with early signs of impact on Belize’s tourism and imports. GDP growth could slow from 4.3% to 2.6% in 2025, emphasizing the need for domestic resilience, regional ties, and reforms.