Belize: Staff Report for the 2003 Article IV Consultation
IMF Staff Country Reports, April 16, 2004
Source details
- Canonical URL
- Belize: Staff Report for the 2003 Article IV Consultation
Other formats
Bibliographic details
- Published: April 16, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451805499.002
Main findings and assessment
- There is an urgent need to re-establish a viable external position through a comprehensive, swift, and sustained policy adjustment.
- Belize statistical information is inadequate to monitor macroeconomic developments sufficiently.
Fiscal policy and revenue recommendations
- The fiscal adjustment will need to rest on both wide-ranging tax revenue measures and substantial expenditure restraint, including a freeze of current expenditure.
- Recommendation: implement a package of revenue enhancements (term used in source keywords).
Structural and institutional measures
- 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.
Subject areas and keywords (as provided)
- 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
Content in this bundle
- _cr04102 - Executive Summary