The Belize Bank is also announcing across the broad cuts. A release from the Bank today says, quote, "The Belize Bank is strongly placed to weather the Coronavirus storm. We are a well-capitalized financial organization with extremely robust systems and have made extensive contingency plans in response to the significant challenges that the country is currently undergoing. Nonetheless, we will continue to be adversely affected." End quote,
But, the bank has to protect its employees and shareholders. It says, quote, "the Board of Directors of The Belize Bank recently volunteered to a reduction in director's fees by 20% on a temporary basis. In addition, the leadership team of the bank including all of the members of the bank's executive management team have done the same- agreeing to a 20% reduction in their salaries until we get through this crisis." End quote.
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