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Belize :, Staff Report for the 2013 Article IV Consultation

Belize :, Staff Report for the 2013 Article IV Consultation
This IMF staff report on Belize’s 2013 Article IV Consultation highlights economic developments and macroeconomic outlook. Macroeconomic developments in 2012 were underpinned by robust output growth but clouded by uncertainties surrounding the debt restructuring and growth prospects of major trading partners. New provisioning, and loan classification standards implemented by the central bank at end-2011 have resulted in declining nonperforming loans (NPLs) in the banking system and improving provisioning. NPLs remain high at 20 percent of total loans at end-2012, with heavy concentration in one domestic and some international banks. In compliance with the new prudential measures, banks have been required to write off bad loans within 3–5 years
international or intergovernmental publication
Literary Form
non fiction
Main title
Belize :
Nature of contents
Series statement
IMF Staff Country Reports
Sub title
Staff Report for the 2013 Article IV Consultation
Table Of Contents
Cover; CONTENTS; OVERVIEW; RECENT ECONOMIC DEVELOPMENTS; MACROECONOMIC OUTLOOK AND RISKS; POLICY DISCUSSIONS; A. Policy Framework to Contain Fiscal Risks and Enhance Debt Management; B. Financial Sector-Maintaining Reform Momentum and Addressing Vulnerabilities; C. External Stability-Exchange Rate and Competitiveness; D. Data Provision; STAFF APPRAISAL; BOXES; 1. Tax Reform for Growth, Fairness, and Sustainable Revenues; 2. Medium-Term Debt Strategy; 3. Financial Sector Reform Agenda; 4. The Authorities' Response to Past IMF Policy Recommendations; FIGURES; 1. Real Sector Developments2. External Sector Developments3. Fiscal Sector Developments; 4. Monetary and Financial Sector Developments; 5. Public Debt Portfolio, February 2013; TABLES; 1. Selected Social and Economic Indicators, 2008-14; 2a. Operations of the Central Government (in millions of Belize dollars); 2b. Operations of the Central Government (in percent of GDP); 3. Operations of the Banking System, 2008-14; 4. Balance of Payments, 2008-18; 5. Medium-Term Outlook, 2008-19; 6. Public and Publicly Guaranteed Debt Simulations, 2008-19; ANNEXES; I. Super-Bond 2.0; II. Additional and Contingent LiabilitiesIII. Debt Sustainability Analysis (DSA)A. Macroeconomic Framework; B. Assessment; DSA TABLES; 1. External Debt Sustainability Framework, 2008-2018; DSA FIGURES; 1. External Debt Sustainability: Bound Tests; 2. Public Sector Debt Sustainability Framework, 2008-2018; 2. Public Debt Sustainability: Bound Tests; IV. Reserve Adequacy, Exchange Rate, and Current Account Assessment; CONTENTS; FUND RELATIONS; BANK-FUND COLLABORATION UNDER THE JMAP AND RELATIONS WITH THE WORLD BANK; RELATIONS WITH THE INTER-AMERICAN DEVELOPMENT BANK; RELATIONS WITH THE CARIBBEAN DEVELOPMENT BANK; STATISTICAL ISSUES