Our new friend Wil owns this bar in PG. It's just amazing the luck we had in meeting him on the plane! Waluco's is on the waterfront, and is kind of out in the middle of nothingness.
If you go on a night when the Garifuna Drummers are performing, you are in for a musical treat. Garifunas are the local black people, and are known for their drumming. The group we saw had about 10 performers with various percussion instruments (bongos, etc) and singers. It was so great!
People were dancing "Punta" style, which I tried to do, but probably looked really stupid! It was fun trying, though! The best part of the night was when the drummers played "Happy Birthday" for me -- not the traditional American song -- much better! (I turned 26 in Belize!)
Don't leave Belize without experiencing some of the local culture and music; I hope you'll be as enchanted with the country as I am.