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International Monetary Fund
Belize should reduce debt ratios to comfortable levels for smooth market access, and reduce liquidity risks by stabilizing debt service. Streamlined management of the oil fund should be considered. Fiscal measures should compensate for the loss of oil revenues in the budget and avoid new borrowing. This note explores alternative measures of reserves adequacy and concludes that a reserves target of three months of imports is a reasonable benchmark. Reforms enabling more effective liquidity management involve removing the ceilings and moving to market-based interest rates.
International Monetary Fund
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 ½ percent of GDP in FY1990/91 to about 7½ 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.
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.