Cabinet Brief: SSB to Cut Bank Fees, Belize Responds to U.S. Shipping Rule

Cabinet met on Tuesday, where several key national issues were discussed, ranging from financial reforms and climate change to trade and rural electrification.

One major decision saw Cabinet endorsing a proposal to reduce costs at the Social Security Board (SSB). The plan would allow SSB to become a direct participant in the Central Bank of Belize’s Automated Payment and Security Settlement Systems, eliminating nearly $1 million annually in bank charges for processing payments. Officials say this move will help protect the solvency of the fund while improving efficiency for the public.

Cabinet also noted the U.S. government’s decision to end the de minimis duty-free exemption for low-value shipments. The policy change takes effect on August 29, 2025, impacting all global postal operators. As a result, the Belize Postal Service has suspended certain shipments bound for the United States as of August 27 until further notice.

In environmental matters, Minister of Sustainable Development Orlando Habet briefed Cabinet on Belize’s role in the International Court of Justice’s recent advisory opinion on climate change. The ruling, which outlines state obligations in addressing climate impacts, strengthens Belize’s position in international negotiations, particularly in securing climate finance for loss and damage.

Cabinet further welcomed progress under the Green Belize Reforestation Project, which aims to plant one million trees nationwide. A new Restoration Task Force, including representatives from academia, the private sector, and civil society, will oversee and guide the initiative to restore degraded land and boost climate resilience.

Other matters included discussions on regional trade, particularly proposals within CARICOM to increase the Common External Tariff (CET) on paints and related products, changes that could affect Belize’s market.

On energy, Cabinet approved the Least-Cost Rural Electrification Plan, which identifies the most affordable and viable methods to expand electricity access. Planned initiatives include line extensions, mini-grids, and standalone solar PV systems to bring power to more households.