Belize: Selected Issues and Statistical Appendix
April 16, 2004
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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.
Subject: Banking, Capital spending, Commercial banks, Credit, Economic sectors, Expenditure, Financial institutions, Foreign exchange, Money, Public sector
Keywords: B. transaction volume, Bretton Woods exchange rate system, Capital spending, Caribbean, Central America, central bank, Commercial banks, CR, Credit, deficit narrowing, Europe, financial system, foreign exchange intermediary, ISCR, market, operating income, private sector, Public sector, trade competitiveness
Pages:
65
Volume:
2004
DOI:
Issue:
101
Series:
Country Report No. 2004/101
Stock No:
1BLZEA0012004
ISBN:
9781451805468
ISSN:
1934-7685
