Posted: Tuesday, August 5, 2025. 11:12 am CST.
By Horace Palacio: While the country argues over the design of new banknotes, who’s on them, what colors were used, and whether the Queen should still be featured, we’re ignoring a much bigger issue.
Belize’s banking system is broken.
We’re stuck debating printed cash while small business owners are being bled dry by some of the highest credit card processing fees in the region, up to 4% per transaction. Most of the country still can’t accept card payments easily, and forget about tapping your phone, Apple Pay and Google Wallet are practically nonexistent here.
It’s 2025, and Belize still operates like it’s 2005. The rest of the world has gone digital. We’re still asking customers, “Cash or cheque?”
Interest rates? Out of control. Belizeans are paying 10% to 15% on home loans while neighboring countries secure rates half that. How are young families supposed to build a future under that kind of financial pressure?
This isn’t about money’s appearance, it’s about how difficult and expensive it is to access and use.
Banks are comfortable. There’s no competition pushing them to modernize. There’s no national conversation about digital finance, fintech innovation, or financial inclusion. And until we demand more, nothing will change.
So while we squabble over printed paper, we’re ignoring the real problem:
A banking system that’s outdated, overpriced, and out of touch with the needs of Belizeans.
It’s time to shift the conversation.
Don’t just redesign the bill, rebuild the system.
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The post Belize, we’re missing the real fight appeared first on Belize News and Opinion on www.breakingbelizenews.com.
Posted: Tuesday, August 5, 2025. 11:12 am CST. By Horace Palacio: While the country argues over the design of new banknotes, who’s on them, what colors
The post Belize, we’re missing the real fight appeared first on Belize News and Opinion on www.breakingbelizenews.com.
