Belize: Staff Report for the 2003 Article IV Consultation

April 16, 2004

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Belize: Staff Report for the 2003 Article IV Consultation, (USA: International Monetary Fund, 2004) accessed November 28, 2024

Summary

There is an urgent need to re-establish a viable external position through a comprehensive, swift, and sustained policy adjustment. The fiscal adjustment will need to rest on both wide-ranging tax revenue measures and substantial expenditure restraint, including a freeze of current expenditure. Executive Directors welcome the government’s decision to restructure the Development Finance Corporation. Existing import restrictions should be eliminated or converted into tariffs to improve resource allocation, increase revenue, and reduce administrative costs. Belize statistical information is inadequate to monitor macroeconomic developments sufficiently.

Subject: Economic sectors, External debt, Foreign exchange, Public debt, Public sector, Revenue administration

Keywords: Balance of payments crisis, Belize, Billion-US$ economy, Caribbean, CR, Exchange peg, ISCR, Liquid asset, Package of revenue enhancements, Public sector, Staff appraisal

Publication Details

Pages:

50
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/102
Stock No:

1BLZEA0022004
ISBN:

9781451805499
ISSN:

1934-7685

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