Belize assumes COSEFIN Pro Tempore Presidency for 1st time

By Zoila Palma:  Belize has officially assumed the Pro Tempore Presidency of the Council of Ministers of Finance or Treasury of Central America, Panama and the Dominican Republic (COSEFIN) for the second half of 2026, marking the first time the country has led the regional body since its establishment.

The transition took place during the 58th Ordinary Meeting of the Council in Guatemala City, where Belize took over the presidency from the Dominican Republic.

The meeting brought together finance ministers and senior government officials to review progress on the regional fiscal agenda, strengthen technical cooperation and discuss strategies to address shared economic challenges.

During its tenure, the Dominican Republic advanced several key initiatives, including the implementation of the Regional Strategy for Disaster Risk Financial Management, the establishment of the Committee of Directors of Tax Administrations, and efforts to strengthen harmonized fiscal statistics and climate resilience.

Upon assuming the presidency, Minister of Economic Transformation Dr. Osmond Martinez described the occasion as a historic milestone for Belize and reaffirmed the country’s commitment to regional collaboration. He said Belize would work to strengthen partnerships within COSEFIN, build consensus among member states and create new opportunities for cooperation between Central America and the Caribbean.

During its six-month presidency, Belize will focus on advancing regional priorities such as fiscal resilience, public financial management, tax administration, institutional capacity building and technical cooperation.

The meeting also featured the presentation of COSEFIN’s 2025–2029 Institutional Strategic Plan and updates on the Regional Strategy for Disaster Risk Financial Management, with representatives from the World Bank and the Inter-American Development Bank highlighting initiatives to improve fiscal sustainability and strengthen public financial management across the region.

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