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May 18, 2021

Prepared By

Western Hemisphere Department




Fund Relations

(As of February 28, 2021)

Membership status. Joined: March 16, 1982.

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Outstanding Purchases and Loans


Latest Financial Arrangements

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Projected Payments to the Fund (in SDR Million)1

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Based on existing use of resources and present holdings of SDRs. When a member has overdue financial obligations outstanding for more than three months, the amount of such arrears will be shown in this section.

Implementation of HIPC Initiative: Not Applicable

Implementation of Multilateral Debt Relief Initiative (MDRI): Not Applicable

Implementation of Post-Catastrophe Debt Relief (PCDR): Not Applicable

Exchange Rate Arrangement: Since 1976, the Belize dollar has been pegged to the U.S. dollar, the intervention currency, at the rate of BZ$ 2 per U.S. dollar. Belize has accepted the obligations of Article VIII, Sections 2, 3, and 4. The exchange regime is free of restrictions and multiple currency practices.

Last Article IV Consultation: The last Article IV consultation was concluded by the Executive Board on December 9, 2019 (IMF Country Report No. 19/364). Belize is on the standard 12-month consultation cycle.

Recent Technical Assistance:

  • FAD advised on developing regulations and treasury instructions to support the Public Financial Management (PFM) law in June 2017.

  • FAD advised on building capacity in data analysis and cross-matching in July 2017.

  • FAD advised on draft PFM legislation in September 2017.

  • FAD advised on developing a framework to establish a joint Large Taxpayer Office (LTO) in September 2017.

  • MCM-LEG advised on jurisdictional review of the foreign exchange system in December 2017.

  • FAD advised on establishing a data analytics function in tax administration in January 2018.

  • FAD advised on reviewing and selecting a robust alternative IT system to replace SIGTAS for Tax Administration in January 2018.

  • STA advised on financial soundness indicators in January 2019.

  • MCM advised on contingency planning in March 2019.

  • MCM advised on cyber risk supervision framework in April 2019.

  • FAD advised on tax and customs administration reform in April 2019.

  • MCM advised on banking supervision and regulation in May 2019.

  • FAD advised on mainstreaming international taxation in August 2019.

  • FAD conducted a public investment management assessment (PIMA) in January 2020.

  • FAD advised on tax reform policy options in May 2020.

  • LEG advised on income taxation in May 2020 • FAD advised on tax administration in April 2021. • MCM advised on bank resolution in April 2021.

CARTAC Technical Assistance to Belize in FY2020 and FY2021

In FY2020 and FY2021, CARTAC delivered approximately 37 field person weeks of TA to Belize in customs and tax administration, public financial management, statistics, and financial markets.

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Collaborations with other International Financial Institutions

As of March 31, 2021, Belize has collaborations with The World Bank Group, Inter-American Development Bank, and Caribbean Development Bank.

Further information can be obtained from the following hyperlinks.

Statistical Issues

(As of April 19, 2021)

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Belize: Table of Common Indicators Required for Surveillance

(As of April 19, 2021)

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Any reserve assets that are pledged or otherwise encumbered should be specified separately. Also, data should include short-term liabilities linked to a foreign currency but settled by other means as well as the notional values of financial derivatives to pay and to receive foreign currency, including those linked to a foreign currency but settled by other means.

Both market-based and officially-determined, including discount rates, money market rates, and rates on treasury bills, notes, and bonds.

Foreign, domestic bank, and domestic nonbank financing.

Consists of the central government (budgetary funds, extra-budgetary funds, and social security funds) and state and local governments.

Including currency and maturity composition.

Includes external gross financial asset and liability positions vis a vis nonresidents.

Daily (D), Weekly (W), Monthly (M), Quarterly (Q), Annually (A), Irregular (I), Not Available (NA).