IMF Staff Country Reports

Belize : 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Excutive Director for Belize

Author/Editor:

International Monetary Fund. Western Hemisphere Dept.

Publication Date:

October 27, 2016

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Growth is expected to average less than 2 percent in the medium-term. The envisaged fiscal adjustment would remain insufficient to significantly reduce the very high public debt. Large external imbalances, driven by large current account deficits, repayment of the super bond and remaining payments for the nationalized telecommunication company (BTL), would reduce international reserves to uncomfortable levels. The further withdrawal by global banks of correspondent relationships with Belizean banks and low capital buffers in some banks are key threats to financial stability. Insufficient fiscal adjustment and weaknesses in the banking system are significant risks.

Series:

Country Report No. 16/334

Subject:

Article IV consultation reports Balance of payments statistics Bank supervision Banking sector Belize Debt sustainability analysis Economic growth Economic indicators Fiscal consolidation Fiscal policy Press releases Staff Reports