Belize: Selected Issues

International Monetary Fund

No 2008/092, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

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 (search for similar items in EconPapers)
Pages: 21
Date: 2008-03-06
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