{
  "title": "Belize: 2022 Article IV Consultation-Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, May 10, 2022",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2022/05/10/belize-2022-article-iv-consultation-press-release-and-staff-report-517761",
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  "summary": "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.",
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    {
      "heading": "COVID-19 economic impact",
      "content": "- Real GDP contracted by 16.7 percent in 2020.\n- The COVID-19 pandemic had a severe impact on Belize in 2020, driving the large contraction in output."
    },
    {
      "heading": "Public debt, medium-term targets, and measures",
      "content": "- Public debt rose to 133 percent of GDP in 2020, described as an unsustainable level.\n- Government medium-term debt targets:\n  - Lower public debt to 85 percent of GDP in 2025.\n  - Lower public debt to 70 percent of GDP in 2030.\n- Planned measures to achieve targets:\n  - Fiscal consolidation.\n  - Structural reforms.\n  - Debt restructuring."
    },
    {
      "heading": "Progress and outlook",
      "content": "- Significant progress towards restoring debt sustainability was made in 2021."
    },
    {
      "heading": "Subject tags and keywords (as listed)",
      "content": "- Subject: Expenditure, Fiscal consolidation, Fiscal policy, Fiscal stance, International organization, Monetary policy, Public debt, Public financial management (PFM).\n- Keywords: calendar year GDP, Caribbean, central bank of Belize, expenditure measure, Fiscal consolidation, Fiscal stance, Global, IMF team, PFM legislation, Policy discussion, policy priority.\n\nSource: Belize: 2022 Article IV Consultation-Press Release; and Staff Report (May 10, 2022).\n\n---\n\n Content in this bundle\n\n- 1blzea2022001\n  - 1blzea2022001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1blzea2022001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: May 10, 2022",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400208652.002",
    "Real GDP contracted by 16.7 percent in 2020.",
    "The COVID-19 pandemic had a severe impact on Belize in 2020, driving the large contraction in output.",
    "Government medium-term debt targets:",
    "Planned measures to achieve targets:",
    "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.",
    "**1blzea2022001**"
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