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Cover IMF Staff Country Reports
Belize: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belize
International Monetary Fund. Western Hemisphere Dept.

1. Belize entered the pandemic with pre-existing vulnerabilities. Real GDP growth had slowed from 4.7 percent in 2000–09 to 2.8 percent in 2010–14 and 1.8 percent in 2015–19. Moreover, the economy was in recession when the pandemic hit, with real GDP contracting by 2.2 percent year on year in the last quarter of 2019 and 6.3 percent in the first quarter of 2020.

Keywords:
return on assets; relative to the baseline scenario; expenditure measure; calendar year GDP; government financing; Fiscal stance; Fiscal consolidation; COVID-19; Caribbean
Cover IMF Staff Country Reports
Front Matter
International Monetary Fund. Western Hemisphere Dept.

IMF Country Report No. 21/103

Keywords:
Policy discussion; central bank of Belize; IMF team; IMF's transparency policy; policy priority; Debt sustainability; COVID-19; Fiscal consolidation; Caribbean
Cover IMF Staff Country Reports
Belize: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belize
International Monetary Fund. Western Hemisphere Dept.
Belize has been hit hard by the COVID-19 pandemic, which led to a deep recession and worsened fiscal and external positions from already weak levels. The opposition People’s United Party won the November 2020 elections by a wide margin, which gives the new government a unique opportunity to jump start much needed reforms to reduce large imbalances and anchor strong and inclusive growth.
Keywords:
currency peg; exchange regime; homegrown adjustment plan; public debt debt ratio; central bank financing; Fiscal stance; Fiscal consolidation; COVID-19; Caribbean; Global