{
  "title": "Belize: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belize",
  "publication": "IMF Staff Country Reports, May 12, 2023",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2023/05/11/belize-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-533288",
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  "summary": "This 2023 Article IV Consultation discusses that economic activity has rebounded strongly from the pandemic in Belize. After growing by 15 percent in 2021 and 12 percent in 2022, real GDP is projected to grow by 2.4 percent in 2023 and 2.0 percent over the medium term as spare capacity is exhausted.",
  "sections": [
    {
      "heading": "Growth outlook and recent performance",
      "content": "- Real GDP grew by 15 percent in 2021 and 12 percent in 2022.\n- Real GDP is projected to grow by 2.4 percent in 2023 and 2.0 percent over the medium term as spare capacity is exhausted."
    },
    {
      "heading": "Key policy priorities",
      "content": "- Reduce public debt to a level that provides sufficient buffers.\n- Increase expenditure in priority areas.\n- Implement growth enhancing structural reforms.\n- Build resilience to climate change.\n- Limit government financing by the Central Bank (as part of measures to strengthen the currency peg)."
    },
    {
      "heading": "Expected effects of recommended policies",
      "content": "- These policies would boost growth and make it more inclusive.\n- Strengthening the sustainability of the currency peg requires:\n  - Implementing additional fiscal consolidation,\n  - Implementing growth-enhancing structural reforms,\n  - Limiting government financing by the Central Bank."
    },
    {
      "heading": "Measures to boost potential growth and resilience",
      "content": "- Enhance access to domestic credit.\n- Ensure predictable access to foreign exchange to attract foreign direct investment.\n- Reduce crime.\n- Adopt a disaster resilience strategy that:\n  - Strengthens structural, financial, and post-disaster resilience,\n  - Is based on a multi-year macro-fiscal framework.\n\n---\n\n Content in this bundle\n\n- 1blzea2023001\n  - 1blzea2023001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1blzea2023001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: May 12, 2023",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9798400242151.002",
    "Real GDP grew by 15 percent in 2021 and 12 percent in 2022.",
    "Real GDP is projected to grow by 2.4 percent in 2023 and 2.0 percent over the medium term as spare capacity is exhausted.",
    "Reduce public debt to a level that provides sufficient buffers.",
    "Increase expenditure in priority areas.",
    "Implement growth enhancing structural reforms.",
    "Build resilience to climate change.",
    "Limit government financing by the Central Bank (as part of measures to strengthen the currency peg).",
    "These policies would boost growth and make it more inclusive.",
    "Strengthening the sustainability of the currency peg requires:",
    "Enhance access to domestic credit.",
    "Ensure predictable access to foreign exchange to attract foreign direct investment.",
    "Reduce crime.",
    "Adopt a disaster resilience strategy that:",
    "**1blzea2023001**"
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