## 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](https://www.imf.org/en/publications/cr/issues/2016/12/30/belize-staff-report-for-the-2003-article-iv-consultation-17329)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/30/belize-staff-report-for-the-2003-article-iv-consultation-17329/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/30/belize-staff-report-for-the-2003-article-iv-consultation-17329/index.json)
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## Bibliographic details
- Published: April 16, 2004
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451805499.002

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### 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

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## Content in this bundle

- **_cr04102 - Executive Summary**
  - [_cr04102 - Executive Summary (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2004/_cr04102.pdf.md){rel="alternate" type="text/markdown"}
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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/belize-staff-report-for-the-2003-article-iv-consultation-17329_