Belize, formerly known as British Honduras until 1973, sits on the eastern Caribbean coast of Central America. To the north and part of the west, it borders Mexico. To the south and the remaining west, it borders Guatemala. Along the coast, shallow waters dominate. These waters are protected by a continuous coral reef. In addition, small islands called cayes stretch along nearly the entire length of the country.
General Information
Along the shoreline, Belize has a low coastal plain. Much of this area contains mangrove swamps. However, the land rises gradually toward the interior. In the south, the Maya Mountains and the Cockscomb Range form the country’s backbone. Notably, Doyle’s Delight is the highest point at 1,124 meters above sea level. Meanwhile, the western Cayo District includes the Mountain Pine Ridge. This area ranges from 305 to about 914 meters in elevation. In contrast, the northern districts contain large tableland areas. Throughout the country, many rivers flow. Some allow short-distance navigation by shallow-draft vessels. Overall, forests cover much of the mainland.
In total, Belize covers 8,867 square miles, including the mainland and cayes. From north to south, the country stretches about 280 kilometers. At its widest point, it measures approximately 109 kilometers. The climate is subtropical and mild. Trade winds help moderate temperatures. Along the coast, temperatures typically range from 10°C (50°F) to 35.6°C (96°F). Inland, temperatures vary more widely. Rainfall also changes by region. For example, the north receives about 1,295 millimeters annually. In comparison, the far south receives up to 4,445 millimeters. Generally, the dry season runs from February to May. Occasionally, a short dry spell occurs in August.
Population
Today, Belize has an estimated population of 273,700. The country reflects a rich cultural mix. Over time, people arrived from Central America, Asia, Europe, and the Caribbean. As a result, Belize has a diverse population. Males slightly outnumber females by about one percent.
According to census data, several ethnic groups form the majority of the population. These include Mestizo, Creole, Ketchi, Yucatec, and Mopan Maya, Garifuna, and East Indian communities. Additionally, smaller groups include German and Dutch Mennonites, Chinese, Arabs, and Africans. Despite these categories, ethnic groups are widely intermixed.
Language
English is Belize’s official language. However, most Belizeans also speak Belizean Creole. It plays a key role in daily communication. In addition, many people speak Spanish. Schools teach Spanish at both primary and secondary levels. This approach supports bilingualism.
Government
Belize gained full independence on September 21, 1981. Since then, it has joined several international organizations. These include the Commonwealth, the United Nations, and the Organization of American States. Belize is also a member of the Non-Aligned Movement and the Association of Caribbean States. Furthermore, the country maintains diplomatic relations with many nations. It also belongs to the Caribbean Community (CARICOM).
Today, Belize operates as a parliamentary democracy. The system follows the Westminster model. As a result, Belize functions as a sovereign and democratic state.
Financial System
Belize’s financial system includes the Central Bank of Belize and several financial institutions.
The government established the Central Bank of Belize under the Central Bank Act of 1982. Under the Bank Act, the Central Bank must maintain monetary stability. It must also promote credit and exchange conditions that support economic growth. In addition, the Act grants the Central Bank authority to regulate the banking system.
Beyond the Central Bank, Belize’s financial sector includes several institutions. These include three commercial banks and one government-owned development bank, the Development Finance Corporation. It also includes fifteen credit unions and three building societies. Additionally, numerous insurance companies operate nationwide. The system also includes a government-owned savings bank and a small farmers and business bank.
Finally, the Belize dollar (BZ$) serves as the national currency. Since May 1976, Belize has pegged the Belize dollar to the U.S. dollar. The fixed exchange rate is BZ$2.00 to US$1.00.