Country Listing

Belize Table of Contents


Banking and Finance

In the early 1990s, financial institutions in Belize included a central bank, a development bank, commercial banks, and credit unions. The Central Bank of Belize was formed in 1982 as a successor to the Monetary Authority, which had been founded in 1976. The bank held the usual responsibilities of a central bank. The fully government-owned Development Finance Corporation (DFC) was founded in 1963. Its main function was to channel foreign aid into development projects. Personal credit was provided by thirtyeight credit unions. Commercial credit was offered by four commercial banks: Barclays, Bank of Nova Scotia, Atlantic Bank (Honduras), and Banco Serfín (Mexico). These banks have been criticized for preferring short-term trade financing and for charging high interest rates for development loans.

Data as of January 1992