Belize And Others Face Being Cut Off As De-Risking Crisis Deepens

The Central American state of Belize could be cut off from doing business with the outside world because of the crisis caused by de-risking, the country’s Prime Minister and central bank governor have warned.

Since April many international banks have cut their correspondent banking links with Belize and other small nations because of the threat of tough money laundering and terrorism financing regulation.

Some Belize banks had managed to keep correspondent links but that now appears likely to come to an end next month, which means even credit card processing is under threat. 

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