No, brisk walking for 45 mins a day would make you more fit, but it is unlikely to do much to help you lose belly fat. Belly fat and love handles that develop during middle age are the first signs of metabolic syndrome. This kind of fat resists reduction by even a combination of exercise and diet. This is because as we age, the level of testosterone (in men), estrogen (in women), and human growth hormone (in both men and women) progressively decline. These hormones are essential for maintaining lean muscle mass and strong bones. Without adequate levels of these hormones, muscle cells would shrink in size, and fat cells would increase in size. Weight lifting can help increase the production of testosterone and human growth hormone levels to help improve lean muscle mass. But after a certain age, even weight lifting can only go so far. That is why even professional body builders will start to lose their edge after the age of about 45, no matter how hard they train.
Having said this, I think you can still reduce abdominal fat to a greater or lesser extent using a combination of low-glycemic diet (even if you are not a diabetic), aerobic exercise of adequate intensity (walk or run until you sweat), and weight lifting geared towards building muscle mass. And of course, there is an easy way. Hormone replacement therapy and the use of diet drugs can easily help you lose belly fat, but their use need to be supervised by a medical doctor. Please visit the Weight Loss Health Tips page on my website http://www.best4health.net for more information.