## Belize: Selected Issues Paper

_IMF Staff Country Reports, November 16, 2018_

## Source details

**Canonical URL:** [Belize: Selected Issues Paper](https://www.imf.org/en/publications/cr/issues/2018/11/16/belize-selected-issues-paper-46371)

## Other formats

- [Markdown version](/en/publications/cr/issues/2018/11/16/belize-selected-issues-paper-46371/index.md)
- [Structured JSON version](/en/publications/cr/issues/2018/11/16/belize-selected-issues-paper-46371/index.json)
- [Bundle manifest](/en/publications/cr/issues/2018/11/16/belize-selected-issues-paper-46371/bundle-manifest.json)

## Bibliographic details
- Published: November 16, 2018
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484385470.002

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### Correspondent Banking Relationships (CBR) — Main Findings
- The paper analyzes Belize’s correspondent banking relationships (CBR) using a dataset based on a bank-level survey and the IMF staff’s minimum scope framework.
- All affected banks have found some replacement CBRs and alternative ways of processing cross border transactions.
- Pressures from the loss of correspondent banking relationships appeared to be easing.
- The US dollar continued to dominate CBR transactions, but its share has been declining.
- CBR pressures appear to be easing but risks remain.

### Risks and Vulnerabilities
- Identified risks:
  - CBR counterparty credit risk.
  - CBR withdrawal risk.
  - Remaining supervisory gaps which could potentially add to CBR pressures.
- The importance of CBR in supporting economic activity and financial stability is highlighted.

### Implications for Credit and Economic Activity
- The results of the study are consistent with the view that the recovery in CBRs in Belize will support credit growth and economic activity.

### Policy Recommendations and Institutional Measures
- Ensure the availability and timely access to beneficial ownership of legal persons and arrangements established in Belize to:
  - Limit the opportunity for their misuse.
  - Improve the transparency and the reputation of the sector.

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## Content in this bundle

- **Country Report**
  - [Country Report (Markdown version)](/-/media/files/publications/cr/2018/cr18328-belizeselectedissues.pdf.md){rel="alternate" type="text/markdown"}
  - [Country Report (PDF)](/-/media/files/publications/cr/2018/cr18328-belizeselectedissues.pdf){rel="external" type="application/pdf"}

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_Source: https://www.imf.org/en/publications/cr/issues/2018/11/16/belize-selected-issues-paper-46371_