European Parliament Library

Belize :, Selected Issues

Abstract
This paper highlights the stock of recent developments in Belize’s financial system. The financial system remains sizable, at 157 percent of GDP in March 2017. The importance of macrofinancial linkages justifies their continuous monitoring, not only for financial stability but also for overall macroeconomic stability. Both domestic and international banks play important roles in mobilizing savings for domestic investment and in facilitating external trade, on which the small open economy of Belize strongly depends. The financial intermediation role of offshore banks has declined in recent years. Offshore banks receive deposits in foreign currency from nonresidents, and lend to foreign investors, and domestic businesses, mostly in the real estate and tourism sectors. The Central Bank of Belize (CBB) is committed to securing financial system soundness. It conducted 5 on-site examinations in 2016, including 3 full-scope examinations for two domestic banks, and one credit union
Table Of Contents
Cover -- CONTENTS -- Glossary -- RECENT DEVELOPMENTS IN BELIZE'S FINANCIAL SYSTEM -- A. Introduction -- B. Financial System: Overview and Recent Developments -- C. The Current Strength of Banks' Balance Sheets -- D. Withdrawal of Correspondent Banking Relationships in Belize -- E. Policy Recommendations -- F. Concluding Remarks -- References -- FIGURES -- 1. Evidence from FX Market Data, 2014-16 -- 2. Growth Rates of Foreign Exchange Flows by Instrument -- 3. Annual Net Foreign Exchange Flows by Instrument -- 4. Net Cumulative Foreign Flows by Instrument -- 5. Domestic and International Banks' Deposits and Loans, Dec. 2012-Mar. 2017 -- 6. Bank Balance Sheets, Dec. 2012-Mar. 2017 -- TABLES -- 1. Structure of the Financial System -- 2. Financial Soundness Indicators of the Banking System (Commercial Banks) -- 3. Capital Requirements of Operators Licensed by the IFSC -- 4. Number of Legal Persons and Arrangement Registered in the Offshore Sector
Language
eng
Literary Form
non fiction
Physical Description
1 online resource (29 pages)
Specific Material Designation
remote
Form Of Item
online
Isbn
9781484320235

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