Belize: Selected Issues

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 092

Publication date: March 2008

ISBN: 9781451805567

$20.00

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Exports and Imports , Investments and Securities-General , Taxation - General , 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

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Peru

Grenada

Nepal

Republic of Congo : 2001 Article IV

Summary

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.