Minister of State in the Ministry of Finance, Senator Christopher Coye, says that there have been improvements in Belize’s correspondent banking situation. Correspondent banking relationships have become more challenging for Belizean banks in recent years due to concerns about anti-money laundering and counter-terrorism financing regulations. Many international banks have been reducing or severing their correspondent banking relationships with Belizean banks, making it difficult for them to conduct international transactions and access foreign currency. This has had a significant impact on the economy of Belize, as it relies heavily on exports and tourism, which require foreign currency transactions. Minister Coye says the matter has been improving. 

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