For the first time in its history - tonight - Belize does not have an image of a British monarch on its currency notes. The "Phillip's and the George's" may not have reached your wallet, purse or pocketbook yet - but the new notes went live today. It's the first time in 35 years the Central bank of Belize has introduced new notes -and these ones are a whole new concept.
And while they have been doing public education for months, today we met the Central Bank team on the ground reassuring shoppers that the new notes are the same as old - just with fresh faces of Belize's National Heroes. Jomarie Lanza met them at Public's:
It's not a farewell to her but instead a welcome to two of our national heroes, officially initiating the circulation of our new currency that was smoothly rolled out today from ATM's countrywide. The Central Bank of Belize began its educational tour at supermarkets - there to ensure that the public is aware of the changes, the new security features, and to reassure those most concerned about whether the old notes can still be used
Shanice Flowers, Project Analyst, Central Bank of Belize
"Of course that is a concern if you can still use the old notes but just again reassuring that both notes remain legal tender. So far, the public is intrigued. They are excited, they are visiting our booth and asking various questions about the design, the security features and we are here answering all of these questions. And also I would like to take opportunity to let the public know if they have any questions or any concerns or if they just generally want to know more about the security features they can visit the central bank's website."
"Both notes are going to be in circulation. They both remain legal tender, the Central Bank will be working with the various financial institutions to recall the notes, the old notes however until that is done both the old and the new notes will remain legal tender and within circulation."
Central Bank Project Analyst Shanice Flowers says that this public education campaign has been ongoing:
Shanice Flowers, Project Analyst, Central Bank of Belize
"So when the Central Bank Officially launched our notes in January we actually began our circulation event so back in May we hosted a Know Your Money session with various stakeholders of the business community and today of course we are circulating the note so we are here at Publics Supermarket and we will be visiting other super markets within the city and after today we will be doing various pop ups among the country giving the public an opportunity as well to interact with the central bank and ask their questions, see the new notes and learn the security features so this is not the only time we will be engaging with the public today."
And while the public reception has been positive for the first round of circulation, Flowers says that they do not foresee any push back from the business community.
Shanice Flowers, Project Analyst, Central Bank of Belize
"We do not anticipate anyone not accepting the new notes however if that does occur we are encouraging the public to send an email to the central bank that will be info@centralbank.org.bz and report to the central bank so we are to action but we do not anticipate that to be an issue as we mentioned we have engaged with various stakeholders in the business community to ensure that the word is out there that we have new notes."
But the streets aren't waiting for any email address - out there the value of the money and the education campaign is determined in real time - based on face value. To sample opinion we went to the ATM machines, where many Belizeans went today today if only out of curiosity.
Visitor
"Its new to me so we just came to visit and its new to see this on there now."
"I think hey she is not here no more to be on our money why not." "I don't think it will make any difference a 50 is 50 as long as I can get my products and what I need to buy with it I am happy with it."
Interviewee
"It's not that bad like it feels real just like our money and just that it looks different."
"Sometimes change is good so you know but I just wanted to see how the money looks in person thats all but it is actually a good feeling and I am excited to start using it."
Interviewee
"The new money is alright and everything but like how I tell people we need to accept it first to make it flow around because I am used to Queen Elizabeth already so its like I have not gotten to it yet I haven't held one yet so when I hold one and they say we have to spend then that is what we will spend but right now its queen Elizabeth in my pocket."
Interviewee
"What I think about it? I think it is good listen to me its about the value like I got 5 mango thats worth a dollar so its either the 5 mango or a dollar once it has the value that is the main thing."
Reporter
"So you dont think because we lost the queen we lost value?"
Interviewee
"I think we should have lost he long time before we lose our minds because we already kind of lost that."
And for the Central Bank - comedy is far better than rejection - because it signals acceptance:
Shanice Flowers, Project Analyst, Central Bank of Belize
"Of course we understand that change is hard, change is difficult but the Central Bank has not had a redesign of it's Bank notes for 35 years so one of the reasons why we have done this is because we wanted to enhance our security features these new notes feature new features such as tactile marks, we have features that are exposed under UV lights we have our serial numbers as well so there are several new security features that we are very excited to unveil today with our circulation event."
