Belize: Selected Issues

International Monetary Fund

No 2016/335, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper analyzes macro-financial linkages for Belize. The banking system in Belize is facing significant challenges that could have a negative impact on the wider economy. Under adverse scenarios, the loss of correspondent banking relationships (CBRs) could have a sizeable impact on Belize’s economy and financial stability as fewer CBRs, different local banks’ business models, or stricter due diligence requirements could kick many economic agents out of formal trade and finance channels. Threats to the financial system, including those related to money laundering and terrorist financing, should be tackled on multiple fronts, including through closer coordination with regional and global public and private partners.

Keywords: ISCR; CR; central bank; banking system; balance sheets; capital buffer; international bank; nominal GDP; Choice bank Ltd.; domestic bank; vis-à-vis counterparties resident; balance sheets link; vis-à-vis BIS bank; counterparties resident; bank capital; bank F; Belizean bank; Belizean banks' borrowing from BIS bank; loss of CBRS; Commercial banks; Foreign banks; Correspondent banking; Loans; Bank deposits; Global; Caribbean (search for similar items in EconPapers)
Pages: 61
Date: 2016-10-27
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