Belize: Recent Economic Developments

International Monetary Fund

No 1996/049, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper describes economic developments in Belize during the 1990s. Following a strong performance in the late 1980s, Belize’s economy weakened in 1991–93, mainly because of a substantial deterioration in the fiscal position. The overall deficit of the nonfinancial public sector increased from ½ percent of GDP in FY1990/91 to about 7½ percent in FY1992/93 owing to a substantial increase in the government wage bill and in domestically financed capital outlays. The net domestic assets of the financial system increased by about 20 percent a year during 1991–93.

Keywords: ISCR; CR; U.S. dollar; debt service; interest rate; commercial bank; income tax; last quarter; free market; rate of return; primary sector; textile company; EPZ firm; Public sector; Exports; Agricultural commodities; Imports; Commercial banks; Central America (search for similar items in EconPapers)
Pages: 97
Date: 1996-06-21
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