Belize sells itself as a small-country answer to a big problem: how to keep the sea alive and the people who depend on it working. The pitch is strong. A debt-for-nature “blue bond” shaved public debt and created a 20-year conservation finance stream. Targets for 30% ocean protection by 2026 are now embedded in policy. The press has been kind. So have donors. Yet beneath the awards and ribbon cuttings sits a harder question: do the reefs and fish show it? And are day-to-day rules on the water keeping pace with the promises on paper?
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