By Breaking Belize News Staff (HP): Americans go to the polls on November 3 in midterm elections that could shape how long the war on Iran lasts, and Belize has a stake in the outcome.
The Pentagon has confirmed the war has cost at least US$47.1 billion so far. In the US, diesel now averages US$6.35 a gallon, up from US$3.75 last year, and higher fuel costs are pushing up food prices. US President Donald Trump’s approval rating has dropped to 33%, the lowest of his two terms.
Trump has said the war will end “whenever I want it to end.”
The effects have spread far beyond the US. At a Caribbean ministerial meeting during the IMF and World Bank meetings in Bangkok this month, fuel prices in the region were reported up 27.7% since the Strait of Hormuz crisis began. PM John Briceño used those meetings to push for contingency credit lines, catastrophe bonds and parametric insurance to help small states absorb shocks like this.
Belize’s tourism industry has also taken a hit. The Belize Tourism Board reported overnight arrivals fell 8.4% from June to September, with August down 13%. Higher fuel prices and airfares up more than 20% were among the reasons cited, along with the US election.
At home, Belizeans are facing the possibility of higher electricity bills. BEL says it has had to run diesel generators for about 18% of the country’s power this year, compared to the usual 2 to 4%, with diesel costing almost $1 per kilowatt hour to generate.
Analysts say the rising cost of the war is likely to influence how Americans vote. For Belize, any shift in US policy toward ending the conflict could mean a long awaited break on fuel and power costs.
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By Breaking Belize News Staff (HP): Americans go to the polls on November 3 in midterm elections that could shape how long the war on Iran lasts, and Belize has a stake in the outcome. The Pentagon has confirmed the war has cost at least US$47.1 billion so far. In the US, diesel now averages
The post Iran war, high fuel prices and tourism slowdown put US midterms on Belize’s radar appeared first on Belize News and Opinion on www.breakingbelizenews.com.