And "respect" is just what the Prime Minister and his Finance Team tried to get when they went to Washington and spoke to the US Treasury Department at the
end of January. Strict US banking regulations have forced the top banks in the US to cut correspondent banking ties with three of the four major commercial
banks in Belize. The Prime Minister and his team got a commitment from one major US Bank that they would be willing to open a correspondent portal with
Belize's Banks – but since then there hasn't been much visible progress. He gave us an update yesterday:
Rt. Hon. Dean Barrow, Prime Minister
"We are in touch and just had an update from certainly the one bank that we were able to get the regulators in Washington to speak to and it would
appear that they are certainly prepared to engage perhaps not full scale. It appears there might want to start small and then grow but it seems to me
that we're making some progress."
Email
Print