BELMOPAN, Belize, Jul 13, CMC – 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 remainder of this year.
A government statement said that this marks a historic milestone for Belize, as the country holds the Presidency of the regional body for the first time since COSEFIN’s establishment.
“Today marks a historic moment for Belize as we assume the COSEFIN Pro Tempore Presidency for the first time. Belize understands that leadership is not measured by the size of an economy, but by the ability to listen, build consensus, and unite efforts around a shared purpose.
“We look forward to strengthening the partnerships that have defined COSEFIN over the past two decades while creating new opportunities for collaboration between Central America and the Caribbean,” said Dr. Osmond Martinez, upon assuming the Presidency, while reaffirming Belize’s commitment to strengthening regional cooperation and advancing practical solutions to shared fiscal and economic challenges.
The transition took place during the 58th ordinary meeting of the Council held in Guatemala City and attended by ministers and senior finance officials who reviewed progress on the regional fiscal agenda and strengthen technical cooperation.
During its Presidency, the Dominican Republic advanced key regional initiatives, including the implementation of the Regional Strategy for Disaster Risk Financial Management, the establishment of the Committee of Directors of Tax Administrations, the strengthening of harmonized fiscal statistics, and technical cooperation on tax administration, disaster risk financing, climate resilience, and results-based budgeting.
The government statement said that during its Pro Tempore Presidency, Belize will continue to advance COSEFIN’s regional priorities, with a focus on fiscal resilience, public financial management, tax administration, institutional capacity building, and technical cooperation.
The meeting also received the COSEFIN’s 2025–2029 Institutional Strategic Plan, as well as a progress report on the Biannual Operational Plan for implementing the Regional Strategy for Disaster Risk Financial Management.
Representatives from the World Bank and the Inter-American Development Bank (IDB) were also at the meeting, presenting regional initiatives on evidence-based public financial management and health expenditure efficiency aimed at strengthening fiscal sustainability.
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