The sanctions were handed down to the Uruguay international on Tuesday, two months after the initial incident during the game between the Merseyside outfit and Manchester United, with Suarez deemed to have used insulting words towards full-back Patrice Evra.
Suarez’s agent is adamant that his player is innocent of the charges and says the 24-year-old is confident the decision can be overturned.
“The sanction has two items, the games' suspension and the monetary [fine]. It will be a total appeal,” Balbi told reporters.
“The counts of racism that were made against him are not true. He firmly believes that this harsh sanction can be overturned.”
He added that Suarez “is very affected” by the decision from the Football Association, but insists he is “calm because of the massive support of the club, the coach, his team-mates and his captain.”
The former Ajax man is able to feature for Kenny Dalglish's side in the meantime, until the appeal process has reached its conclusion.
Meanwhile, Liverpool were held to a stalemate at the DW Stadium to Wigan on Wednesday evening, with Charlie Adam failing to convert from the penalty spot, the Latics keeper Ali Al Habsi denying the Scotsman with a superb save.
Suarez took to his official website to comment on the disappointing result and thank the club’s fans for supporting him through a trying period.
He said: “We couldn't win. I think we did everything possible. These last days have been very difficult for me and I want to thank the great support received by [sic] all of you!!”