The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This paper describes economic developments in Belize during the 1990s. Following a strong performance in the late 1980s, Belize's economy weakened in 1991-93, mainly because of a substantial deterioration in the fiscal position. The overall deficit of the nonfinancial public sector increased from 1/2 percent of GDP in FY1990/91 to about 71/2 percent in FY1992/93 owing to a substantial increase in the government wage bill and in domestically financed capital outlays. The net domestic assets of the financial system increased by about 20 percent a year during 1991-93.