Belize: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Director for Belize
IMF Staff Country Reports, March 28, 2016
Source details
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- Belize: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Director for Belize
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Bibliographic details
- Published: March 28, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781475548723.002
Economic condition and growth
- The economic condition of Belize is characterized by sluggish growth and a weak fiscal stance, which have put public debt on an unsustainable path.
- Per capita GDP remains far below its regional peers.
- The paper 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.
Social conditions and labor market
- Social and poverty challenges remain significant.
- The unemployment rate remains high compared with its 2008 level of 8 percent.
- Reported unemployment rates:
- 12.1 percent in September 2014
- 14.2 percent in September 2013
Policy focus and recommendations (themes)
- Signal credible commitment to fiscal consolidation.
- Strengthen the financial system.
- Boost economic growth while accounting for constraints on human and financial resources.
Subjects and keywords covered
- Subjects: 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