{
  "title": "Belize: Staff Report for the 2003 Article IV Consultation",
  "publication": "IMF Staff Country Reports, April 16, 2004",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/30/belize-staff-report-for-the-2003-article-iv-consultation-17329",
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  "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.",
  "sections": [
    {
      "heading": "Main findings and assessment",
      "content": "- There is an urgent need to re-establish a viable external position through a comprehensive, swift, and sustained policy adjustment.\n- Belize statistical information is inadequate to monitor macroeconomic developments sufficiently."
    },
    {
      "heading": "Fiscal policy and revenue recommendations",
      "content": "- The fiscal adjustment will need to rest on both wide-ranging tax revenue measures and substantial expenditure restraint, including a freeze of current expenditure.\n- Recommendation: implement a package of revenue enhancements (term used in source keywords)."
    },
    {
      "heading": "Structural and institutional measures",
      "content": "- Executive Directors welcome the government’s decision to restructure the Development Finance Corporation.\n- Existing import restrictions should be eliminated or converted into tariffs to improve resource allocation, increase revenue, and reduce administrative costs."
    },
    {
      "heading": "Subject areas and keywords (as provided)",
      "content": "- Subject: Economic sectors, External debt, Foreign exchange, Public debt, Public sector, Revenue administration\n- Keywords: balance of payments crisis, Belize, billion-US$ economy, Caribbean, CR, exchange peg, ISCR, liquid asset, package of revenue enhancements, Public sector, staff appraisal\n\n---\n\n Content in this bundle\n\n- cr04102 - Executive Summary\n  - cr04102 - Executive Summary (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr04102 - Executive Summary (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: April 16, 2004",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451805499.002",
    "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.",
    "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).",
    "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: 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",
    "**_cr04102 - Executive Summary**"
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