Belize: 2005 Article IV Consultation—Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
IMF Staff Country Reports, September 30, 2005
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- Belize: 2005 Article IV Consultation—Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
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Bibliographic details
- Published: September 30, 2005
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451805512.002
Economic performance
- Belizean economy grew by 4½ percent in 2004.
- Growth mainly reflected strong performance in the agriculture, fisheries, and tourism sectors.
- Inflation remained subdued at about 3 percent.
Fiscal position and risks
- The overall fiscal deficit of the central government widened to 8¾ percent of GDP in FY04/05.
- Executive Directors underscored the urgency of addressing these imbalances to:
- Safeguard the country’s international reserves.
- Ensure the sustainability of the pegged exchange rate system.
Policy implications and recommendations (as highlighted by Executive Directors)
- Prioritize fiscal consolidation to reduce the overall central government deficit.
- Strengthen reserve buffers to protect the pegged exchange rate arrangement.
- Address sectoral and macroeconomic imbalances to maintain external and domestic stability.
Content in this bundle
- _cr05352 - Executive Summary