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Belize: Selected Issues
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2008: Issue 092
Language:
English
Publication Date:
06 Mar 2008
DOI:
https://doi.org/10.5089/9781451805567.002
ISBN:
9781451805567
ISSN:
1934-7685
Pages:
21
Keywords:
ISCR; CR; Belize; cost; debt; debt ratio; adequacy benchmark; GDP ratio; CBB profit; oil revenue; petroleum revenue management fund; reserves adequacy; Oil; gas and mining taxes; Imports; Government securities; Caribbean; Central America
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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.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund