## Belize: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belize

_IMF Staff Country Reports, May 12, 2023_

## Source details

**Canonical URL:** [Belize: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belize](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)

## Other formats

- [Markdown version](/en/publications/cr/issues/2023/05/11/belize-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-533288/index.md)
- [Structured JSON version](/en/publications/cr/issues/2023/05/11/belize-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-533288/index.json)
- [Bundle manifest](/en/publications/cr/issues/2023/05/11/belize-2023-article-iv-consultation-press-release-staff-report-and-statement-by-the-533288/bundle-manifest.json)

## Bibliographic details
- Published: May 12, 2023
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400242151.002

---

### Growth outlook and recent performance
- 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.

### Key policy priorities
- 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).

### Expected effects of recommended policies
- These policies would boost growth and make it more inclusive.
- Strengthening the sustainability of the currency peg requires:
  - Implementing additional fiscal consolidation,
  - Implementing growth-enhancing structural reforms,
  - Limiting government financing by the Central Bank.

### Measures to boost potential growth and resilience
- Enhance access to domestic credit.
- Ensure predictable access to foreign exchange to attract foreign direct investment.
- Reduce crime.
- Adopt a disaster resilience strategy that:
  - Strengthens structural, financial, and post-disaster resilience,
  - Is based on a multi-year macro-fiscal framework.

---

## Content in this bundle

- **1blzea2023001**
  - [1blzea2023001 (Markdown version)](/-/media/files/publications/cr/2023/english/1blzea2023001.pdf.md){rel="alternate" type="text/markdown"}
  - [1blzea2023001 (PDF)](/-/media/files/publications/cr/2023/english/1blzea2023001.pdf){rel="external" type="application/pdf"}

---

_Source: 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_