Belize: Staff Report for the 2013 Article IV Consultation
IMF Staff Country Reports, July 23, 2013
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- Belize: Staff Report for the 2013 Article IV Consultation
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Bibliographic details
- Published: July 23, 2013
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484348642.002
Summary
- IMF staff report on Belize’s 2013 Article IV Consultation highlighting economic developments and macroeconomic outlook.
- Macroeconomic developments in 2012 were underpinned by robust output growth but clouded by uncertainties surrounding the debt restructuring and growth prospects of major trading partners.
Macroeconomic developments
- 2012: robust output growth.
- Key downside risks: uncertainties surrounding the debt restructuring and growth prospects of major trading partners.
Banking sector and nonperforming loans (NPLs)
- New provisioning and loan classification standards implemented by the central bank at end-2011 have resulted in declining nonperforming loans (NPLs) in the banking system and improving provisioning.
- NPLs remain high at 20 percent of total loans at end-2012, with heavy concentration in one domestic and some international banks.
Prudential measures and bank actions
- In compliance with the new prudential measures, banks have been required to write off bad loans within 3–5 years.
IMF Staff Report: Belize — Staff Report for the 2013 Article IV Consultation
Content in this bundle
- Belize: Staff Report for the 2013 Article IV Consultation; IMF Country Report 13/227; June 5, 2013