Debunking misinformation on the new design of Belize dollar bills

Posted: Thursday, September 19, 2024. 11:15 am CST.

By Zoila Palma Gonzalez: Misinformation often spreads rapidly, and the recent announcement regarding the introduction of new Belize dollar bills is no exception.

Prime Minister John Briceño recently informed that the updated currency will feature prominent national heroes George Cadle Price and Philip Goldson.

“The central bank, the governor of central bank came to my office I think about 2 weeks ago to show us the new dollars. We will be using the national heroes, George Price and Phillip Goldson they are the ones that are going to be on the face and so the new dollars that we introduced probably later this year or early next year will be those ones so it will be changed but will have a lot of other features to protect against counterfeit,” the Prime Minister said.

“Also we have to ease out the old dollar bills and as we get rid of some of them these are going to be introduced so it’s already done it’s already been approved and we have presented to the cabinet last year or earlier this year and now I am told that the governor after the 21st celebrations they will come and show the actual bills so it’s coming,” he added.

The new dollar bills will showcase vibrant blue and red colors.

Following the announcement, some Belizeans took to social media, expressing concerns that the new design might lead to a devaluation of the Belize dollar, particularly citing the removal of the Queen’s image.

Fact Check: It is important to clarify that changing the design of the currency will not cause the Belize dollar to devalue.

Currency value is influenced by several economic factors, including inflation rates, interest rates, government fiscal policies, and overall economic stability.

The introduction of a new design alone does not impact these fundamental economic indicators.

The transition to the new bills, which will prominently feature Price and Goldson, is aimed at honoring Belizean heritage.

The public can expect a formal introduction of the new design of bills after the Independence Day celebrations.

 

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