Cover IMF Staff Country Reports
Buy Book in Print
Belize: Selected Issues and Statistical Appendix
Author:
International Monetary Fund
Search for other papers by International Monetary Fund in
Current site
Google Scholar Close
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2004: Issue 101
Language:
English
Publication Date:
16 Apr 2004
DOI:
https://doi.org/10.5089/9781451805468.002
ISBN:
9781451805468
ISSN:
1934-7685
Pages:
65
Keywords:
ISCR; CR; financial system; market; central bank; private sector; trade competitiveness; foreign exchange intermediary; operating income; B. transaction volume; Bretton Woods exchange rate system; deficit narrowing; Public sector; Capital spending; Commercial banks; Credit; Caribbean; Central America; Europe
Download PDF (891.7 KB) Download Epub
An illegal parallel market for foreign exchange is prevalent in Belize. Its emergence and continued existence is attributed to the pervasive exchange controls, attempts to avoid banking fees, as well as the prevalence of cash transactions in the tourist sector. Overall, the financial system appears sound, the banking system is well capitalized, and the insurance sector has been able to pass most of the risks offshore through reinsurance. The supervisory and regulatory framework for commercial banks appears sound, but there is scope for improvement.
  • Collapse
  • Expand
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund