Belize: Selected Issues and Statistical Appendix
Electronic Access:
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Summary:
An illegal parallel market for foreign exchange is prevalent in Belize. Its emergence and continued existence is attributed to the pervasive exchange controls, attempts to avoid banking fees, as well as the prevalence of cash transactions in the tourist sector. Overall, the financial system appears sound, the banking system is well capitalized, and the insurance sector has been able to pass most of the risks offshore through reinsurance. The supervisory and regulatory framework for commercial banks appears sound, but there is scope for improvement.
Series:
Country Report No. 2004/101
Subject:
Banking Capital spending Commercial banks Credit Economic sectors Expenditure Financial institutions Foreign exchange Money Public sector
English
Publication Date:
April 16, 2004
ISBN/ISSN:
9781451805468/1934-7685
Stock No:
1BLZEA0012004
Pages:
65
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