Business & Economy
Caye International Bank President meets German President during official tour
Caye International Bank (CIB) President Dr. Luigi Wewege recently met with German President Frank-Walter Steinmeier during the latter’s official visit to Panama. President Steinmeier’s regional tour, held from March 16th to 20th, included stops in Panama, Guatemala, and Mexico, focusing on strengthening economic ties, trade, and democratic cooperation.
Business & Economy
Belize-Mexico border disruption eased for cargo transportation
The disruption at the Belize-Mexico border, which had limited the flow of goods into the country, was lifted on March 24th after a meeting among Mexican authorities, brokers, customs agents, and transportation stakeholders. The situation had started affecting businesses in San Pedro Town, Ambergris Caye, especially those that depend on imports of vegetables, fruits, and other perishable goods from Mexico.
Business & Economy
Belize Records Marginal Inflation Growth of 0.04% in January 2026
The Statistical Institute of Belize released its Consumer Price Index (CPI) for January 2026 on February 25th. The All-Items CPI rose slightly to 119.86, up from 119.81 in January 2025, reflecting a national inflation rate of 0.04%. The survey measures price levels for consumer goods and services nationwide.
Business & Economy
Government Responds to U.S. Congressman’s Letter on Belize’s Investment Climate
Following a letter from the Chairman of the United States House of Representatives Committee on Foreign Affairs, Brian J. Mast, addressed to Secretary of State Marco Rubio, requesting an assessment of Belize’s investment climate and institutional checks and balances, the Government of Belize formally responded on Thursday, March 12th. In its official note, the government offered its cooperation in assessing Belize’s investment climate.
Business & Economy
Ambergris Caye Sees Nearly $2 Per Gallon Increase in Gas Prices
Fuel prices, including premium and regular gasoline, rose sharply on Friday, March 13th. In San Pedro Town, Ambergris Caye, regular gasoline and diesel are the primary fuels used. To date, the price of regular gasoline has increased from $11.50 to $13.44 per gallon. The price of diesel remains at $12.07 per gallon. The increase, affecting the entire country, has been attributed to the ongoing United States and Israel conflict with Iran in the Middle East, which has reportedly impacted global oil markets.
Business & Economy
Decline in Large Lobsters Reported by San Pedro Fishermen
Belize’s 2025–2026 lobster season, which ran from July 1, 2025, to February 28, 2026, impacted both commercial fishermen and tour guides offering fishing trips in San Pedro Town. While the season closed without any major issues, the Belize Fisheries Department has not yet released its official statistics for the period.
Business & Economy
PUC Market Review Highlights BTL’s Dominance Following Acquisition Talks
Belize’s Public Utilities Commission (PUC) issued its final ruling on market dominance in the telecommunications sector on March 10, 2026. The decision confirms that Belize Telemedia Limited (BTL) holds dominant positions across multiple retail and wholesale telecommunications markets under the Belize Telecommunications Act. The ruling follows a public consultation and introduces regulatory measures to boost competition in the sector.
Business & Economy
Dr. Luigi Wewege and Dustin Rennie Appointed to the Caribbean Council
In an effort to strengthen regional economic diplomacy and expand international investment pathways across the Caribbean, Caye International Bank’s (CIB) President, Dr. Luigi Wewege, and Dustin Rennie, Director of RE/MAX Belize, were officially appointed as members of the prestigious Caribbean Council in 2026. Their appointment reinforces Belize’s growing presence within regional economic diplomacy and international investment circles.
Business & Economy
Belize Bank International Opens Office in San Pedro
As San Pedro Town, Ambergris Caye continues to develop and is recognized as one of the fastest-growing municipalities in the country, the island is expanding services to meet the demands of key sectors within the community. Among these is the financial sector, which saw the opening of Belize Bank International Limited (BBIL) on February 28, offering international banking services to foreign clients on La Isla Bonita.
Business & Economy
Tourism Minister Says Ambergris Caye’s Infrastructure Needs Improvement
San Pedro, Ambergris Caye, is considered Belize’s premier tourist destination, attracting thousands of visitors each year. The island, dubbed ‘La Isla Bonita,’ has even been called the country’s tourism mecca because of its popularity, beauty, and proximity to the second-largest barrier reef in the world. However, Minister of Tourism, Honourable Anthony Mahler, believes Ambergris Caye’s infrastructure requires significant improvements to continue meeting the demands of the tourism industry.
Business & Economy
San Pedro Town Council Publishes Audited 2024 Financial Statements
The San Pedro Town Council (SPTC) has released its audited financial statements for the fiscal year ending March 31, 2024. Prepared in accordance with International Financial Reporting Standards for Small and Medium-sized Entities (IFRS for SMEs) and audited by Moore Belize LLP, the report was made public on February 18th. The statements provide an overview of the Council’s revenues, expenditures, assets, and liabilities, offering transparency into municipal operations in San Pedro Town, Ambergris Caye.
