Belize: 2022 Article IV Consultation-Press Release; and Staff Report
May 10, 2022
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The COVID-19 pandemic had a severe impact on Belize in 2020, leading to a 16.7 percent contraction in real GDP and a rise in public debt to an unsustainable level of 133 percent of GDP. To address this situation, the government presented a medium-term plan to lower public debt to 85 percent of GDP in 2025 and 70 percent in 2030 by implementing fiscal consolidation, structural reforms, and debt restructuring. Significant progress towards restoring debt sustainability was made in 2021.
Subject: Expenditure, Fiscal consolidation, Fiscal policy, Fiscal stance, International organization, Monetary policy, Public debt, Public financial management (PFM)
Keywords: calendar year GDP, Caribbean, central bank of Belize, expenditure measure, Fiscal consolidation, Fiscal stance, Global, IMF team, PFM legislation, Policy discussion, policy priority
Pages:
64
Volume:
2022
DOI:
Issue:
133
Series:
Country Report No. 2022/133
Stock No:
1BLZEA2022001
ISBN:
9798400208652
ISSN:
1934-7685
