Regulatory Alerts2024-12-18
Direction No. 19 - Extraction and Redistribution of Foreign Currency and Conditions for Investments
The Central Bank of Belize issues Direction No. 19 to mandate the extraction of foreign currency from Authorised Dealers to ensure monetary and financial stability. The directive establishes a formula-based allocation mechanism for extraction, defines strategic redistribution criteria for essential imports and debt obligations, and sets strict conditions for pre-approved foreign investments. It further enforces rigorous reporting requirements for holdings and transactions while granting the Central Bank the authority to adjust thresholds and demand liquidation of assets to address market imbalances.
Share