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Western Hemisphere > Belize

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Cover Caribbean Renewal
Caribbean Renewal
Tackling Fiscal and Debt Challenges
Charles Amo Yartey
and
Ms. Therese Turner-Jones

Abstract

Caribbean economies face high and rising debt-to-GDP ratios that jeopardize prospects for medium-term debt sustainability and growth. This book provides a comprehensive analysis of the challenges of fiscal consolidation and debt reduction in the Caribbean. It examines the problem of high debt in the region and discusses policy options for improving debt sustainability, including fiscal consolidation, robust growth, and structural reforms. The book also examines empirically the factors underlying global large debt reduction episodes to draw important policy lessons for the Caribbean. It also reviews the literature on successful fiscal consolidation experiences and provides an overview of past and current consolidation efforts in the Caribbean. The book concludes that the region needs a broad and sustained package of reforms to reduce debt ratios to more manageable levels and strengthen economic resilience.

Keywords:
BOOK; spending multiplier; debt restructuring; debt accumulation; debt level; debt reduction; commodity-exporting country; Fiscal consolidation; Debt reduction; Fiscal rules; Caribbean; Global; Africa; Europe
Cover IMF Staff Country Reports
Belize: Selected Issues and Statistical Appendix
International Monetary Fund
The erosion of EU trade preferences for bananas and sugar will have immediate negative implications for Belize’s economy. This paper suggests ways to enhance public debt management in Belize. The vulnerability of the banking sector appears relatively modest. However, the current level of loan-loss provisions and collateral valuation rules are not up to the international standards. Important steps have been taken to further improve compliance with the Basel Core Principles. The importance of debt-service reduction through sound macroeconomic policies is highlighted.
Keywords:
ISCR; CR; current account; loan; debt management office; ACP country; IAIS insurance core principle; REER index; bank supervisor; loan portfolio; equilibrium exchange rate path; unit-labor-cost-based REER; exchange rate peg; Agricultural commodities; Government debt management; Loans; Commercial banks; Real exchange rates; Caribbean
Cover Summary Proceedings of the Thirty-Seventh Annual Meetings of the Board of Governors, 1982
Summary Proceedings of the Thirty-Seventh Annual Meetings of the Board of Governors, 1982
International Monetary Fund. Secretary's Department

Abstract

The speeches made by officials attending the IMF–World Bank Annual Meetings are published in this volume, along with the press communiqués issued by the International Monetary and Financial Committee and the Development Committee at the conclusion of the meetings.

Keywords:
AS; sc; fund documents no; IBRD election; IMF election; oil developing countries; boards of governors of the fund; Inflation; International monetary system; Multilateral development institutions; Adjustment process; Unemployment; Global; Sub-Saharan Africa; Caribbean; Central America; Africa; audit report; Economic recession