PRESS RELEASE: US$30.0MN Fixed Rate Notes

11 Jun 2020

The Central Bank of Belize advises prospective subscribers and the public that the Government of Belize’s offer of a US dollar-denominated Fixed Rate Note has been enthusiastically received both in Belize and the wider region. 

As the independent banker for the Government of Belize, the Central Bank issues Treasury Bills and Notes in accordance with the Central Bank of Belize and the Treasury Bills Acts and always within its authorized borrowing limits. This US$30mn 6.5% Fixed Rate Note falls well within the bounds of the Government of Belize’s existing securities authorization.  

Attracting added reserves by way of a foreign currency issuance has been under consideration for some time now, and the Covid-19 crisis magnified the need for foreign currency. This need led to the innovative opportunity to attract US dollar investments using a familiar and market friendly instrument at the disposal of the Central Bank. In designing this Treasury Note offering, the Central Bank and its Board of Directors, as is standard procedure, considered multiple, highly regarded legal opinions.

The Central Bank wishes to underscore that the US-dollar proceeds of the Fixed Rate Note will buttress the existing portfolio of official foreign reserves, bolster the import cover for the national economy, and strengthen the peg. 

The number of applications and serious inquiries, in just the first few days since the launch of the Note, indicate strong interest and the likelihood of a highly successful offering. 

For further information on this US dollar-denominated Treasury Note, please contact the Central Bank’s Investment and Reserve Management Unit at Telephone 223-6194, EXT 243 or 490. 

-ENDS-

OFFICE OF THE GOVERNOR, 
Central Bank of Belize
Gabourel Lane
Belize City
Phone: 223-6194
Email: communications@centralbank.org.bz
Website: www.centralbank.org.bz