On June 4, the Caribbean Policy Development Centre (CPDC), a coalition of Caribbean non-profit organizations of which the Belize Network of NGOs is a member, hosted a timely and transformative consultation in Belmopan, Belize, centred on one of the most pressing and under-discussed issues facing the Caribbean today: sovereign debt.
Sovereign debt is money borrowed by governments to meet national expenses.
The full-day session brought together civil society and community-based organizations to deepen collective understanding of debt dynamics in Belize and explore pathways for advocacy and holding leaders accountable.
With funding from the Open Society Foundations, CPDC is implementing a project geared toward building awareness on impact of the increasing sovereign debt across the Caribbean region . The project seeks to mobilize Caribbean CSOs and communities to play a more active role in collaborating on the sovereign debt campaign.
The Belize Network of NGOs (BNN) recognizes the critical importance of building this kind of capacity within civil society, especially at a time when debt sustainability is a make-or-break issue for many Caribbean nations like Belize.
Why Sovereign Debt Matters to Civil Society
Sovereign debt—money borrowed by governments to meet national expenses—can have far-reaching consequences. Poor debt management practices and unsustainable borrowing can choke off social spending, increase inequality, and hinder long-term development. In CARIFORUM (a trade and developing grouping composed of 15 Caribbean countries, established in) states, like Belize, the issue is particularly acute, with many governments walking a tightrope between meeting immediate financial obligations and investing in resilient futures.
The consultation provided a vital opportunity for knowledge sharing on the issue of unsustainable debt and its impact on development. The sessions importantly looked at the relationship between unsustainable debt and climate change in the region and explored the pool of disaster risk instruments offered by multilateral development banks.
Despite the stakes, debt remains a topic shrouded in technical language and institutional opacity—rarely entering mainstream conversations, let alone grassroots organizing.
This silence is part of the problem.
A Space for Honest Dialogue
The consultation offered a rare and necessary space for open, solution-oriented discussion about the historical and structural factors shaping Belize’s debt portfolio. Participants explored not only the origins and implications of sovereign debt in Belize but also the role civil society can play in pushing for more equitable and transparent debt management policies.
The morning session covered a snapshot of Belize’s Sovereign Debt Management, the Belize Blue Bond Debt for Nature Swap and how future debt for nature swaps can improve on public consultation.
BNN’s Commitment to Empowering Civil Society through Dialogue and Action
For BNN, the event is pivotal to its broader mission to support the development and coordination of Belize’s civil society sector. Strengthening understanding of sovereign debt is not just about economics—it is about empowerment. It is about ensuring that communities understand how financial decisions made in government offices affect the delivery of healthcare, education, infrastructure, and climate resilience for their communities.
BNN remains committed to supporting its members and partners with the tools and knowledge sharing to navigate these complex issues.
Of note, two important global debt movements present vital opportunities for Caribbean civil society to become involved in enhanced policy around sovereign debt management.
Inspired by the late Pope Francis’ message of solidarity, Caritas Internationalis launched the Jubilee 2025 “Turn Debt into Hope” campaign. The major goal of the campaign is the immediate cancellation and restructuring of unjust and unsustainable debts without importing harmful economic conditions that fall on the poorest among us.
CSOs and individuals are encouraged to sign the petition to help amplify the call for debt justice and bring lasting change.
With partnerships like the one with CPDC, BNN will continue to facilitate critical learning opportunities and build bridges between civil society, policy spaces, and the public.
BNN extends its gratitude to CPDC and all participating organizations for their commitment to this vital conversation. Together, we are laying the groundwork for a more informed, engaged, and resilient Belize.
