Belize: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Director for Belize
March 28, 2016
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This paper discusses key issues of the Belize economy. The economic condition of Belize is characterized by sluggish growth and a weak fiscal stance, which have put public debt on an unsustainable path. Social and poverty challenges remain significant. The unemployment rate remains high compared with its 2008 level of 8 percent, despite a reduction to 12.1 percent in September 2014 from 14.2 percent in September 2013. Per capita GDP remains far below its regional peers. This paper also focuses on measures that would signal credible commitment to fiscal consolidation, strengthen the financial system, and boost economic, growth taking into account constraints on human and financial resources.
Subject: Banking, Central banks, Expenditure, Fiscal consolidation, Fiscal policy, Fiscal stance, International reserves, Public debt, Revenue administration
Keywords: Bel settlement, Bel share, Bel valuation, BTL settlement, Caribbean, CR, debt level, debt trajectory, deficit, financing, Fiscal stance, Global, government of Belize, growth elasticity, headline inflation, International reserves, ISCR, nationalization liability
Pages:
87
Volume:
2016
DOI:
Issue:
092
Series:
Country Report No. 2016/092
Stock No:
1BLZEA2016001
ISBN:
9781475548723
ISSN:
1934-7685
