Belize 2022 Article Iv Consultation Press Release And Staff Report

Author : International Monetary,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 64 pages
File Size : 47,9 Mb
Release : 2022-05-10
Category : Business & Economics
ISBN : 9798400208652

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Belize: 2022 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

The COVID-19 pandemic had a severe impact on Belize in 2020, leading to a 16.7 percent contraction in real GDP and a rise in public debt to an unsustainable level of 133 percent of GDP. To address this situation, the government presented a medium-term plan to lower public debt to 85 percent of GDP in 2025 and 70 percent in 2030 by implementing fiscal consolidation, structural reforms, and debt restructuring. Significant progress towards restoring debt sustainability was made in 2021.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 72 pages
File Size : 50,8 Mb
Release : 2024-05-15
Category : Business & Economics
ISBN : 9798400276248

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Belize by International Monetary Fund. Western Hemisphere Dept. Pdf

Outlook and Risks. Real GDP growth and inflation moderated in 2023 and are projected to decline further over the medium term as the output gap closes and global commodity prices fall. The fiscal position remains robust, but debt dynamics have become more challenging due to the increase in the interest rate – growth differential, with public debt projected to remain above 50 percent of GDP over the next decade. Risks to the outlook include further increases in commodity prices and climate-related disasters.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 67 pages
File Size : 43,8 Mb
Release : 2023-05-12
Category : Business & Economics
ISBN : 9798400242151

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Belize by International Monetary Fund. Western Hemisphere Dept. Pdf

Outlook and Risks. Economic activity is projected to moderate after a strong recovery from the pandemic. After growing by 15 percent in 2021 and 12 percent in 2022, real GDP is projected to grow by 2.4 percent in 2023 and 2.0 percent over the medium term as spare capacity is exhausted. Revenue growth and fiscal consolidation have increased the primary balance to 1.2 percent of GDP from FY2022 onwards, which is projected to reduce public debt from 64 percent of GDP in 2022 to 53 percent in 2028. Risks to the outlook are tilted to the downside, including a sharp slowdown in advanced economies, further increases in commodity prices, and climate-related disasters.

Author : International Monetary,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 57 pages
File Size : 54,7 Mb
Release : 2021-06-07
Category : Business & Economics
ISBN : 9781513573113

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Belize: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Belize by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

Belize has been hit hard by the COVID-19 pandemic, which led to a deep recession and worsened fiscal and external positions from already weak levels. The opposition People’s United Party won the November 2020 elections by a wide margin, which gives the new government a unique opportunity to jump start much needed reforms to reduce large imbalances and anchor strong and inclusive growth.

Author : Anonim
Publisher : Unknown
Page : 78 pages
File Size : 45,5 Mb
Release : 2006
Category : Belize
ISBN : STANFORD:36105122051258

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Belize, Staff Report for the ... Article IV Consultation by Anonim Pdf

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 63 pages
File Size : 52,7 Mb
Release : 2022-12-08
Category : Business & Economics
ISBN : 9798400226939

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Canada by International Monetary Fund. Western Hemisphere Dept. Pdf

Canada has come through the pandemic relatively well and, as a commodity exporter, has been hit less hard than many other countries have been by Russia’s war on Ukraine. Nonetheless, inflation is well above target, housing affordability is a major concern following a long boom that may now have peaked, and the pandemic remains a source of risk.

Author : International Monetary,International Monetary Fund. Middle East and Central Asia Dept.
Publisher : International Monetary Fund
Page : 70 pages
File Size : 50,9 Mb
Release : 2022-06-21
Category : Business & Economics
ISBN : 9798400213342

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Qatar: 2022 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. Middle East and Central Asia Dept. Pdf

Swift and decisive policy response to the Covid-19 pandemic has helped to mitigate the health and economic impact of the crisis. Fast vaccination rollout has also strengthened the economy’s resilience to new pandemic waves, paving the way for a speedy recovery. As the economy rebounds, a gradual exit from pandemic support measures is underway.

Author : International Monetary,International Monetary Fund. European Dept.
Publisher : International Monetary Fund
Page : 82 pages
File Size : 49,5 Mb
Release : 2022-03-21
Category : Business & Economics
ISBN : 9798400207143

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Israel: 2022 Article IV Consultation-Press Release and Staff Report by International Monetary,International Monetary Fund. European Dept. Pdf

The Israeli economy has weathered the COVID-19 crisis exceptionally well, but risks are high. With substantial fiscal and monetary support, real GDP growth reached 8.1 percent in 2021, driven by consumption and high-tech exports. The rapid vaccination campaign boosted confidence. The outlook is positive but still subject to high uncertainty.

Author : International Monetary,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 69 pages
File Size : 44,8 Mb
Release : 2022-06-21
Category : Business & Economics
ISBN : 9798400213779

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Paraguay: 2022 Article IV Consultation-Press Release; and Staff Report by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

After two consecutive years of GDP decline driven by external shocks, Paraguay’s economy rebounded in 2021. In 2019, drought and flooding reduced economic growth to -0.4 percent. In 2020, the impact of the pandemic on the secondary and tertiary sectors was partly compensated by a rebound of agriculture and an extensive emergency package, and GDP fell by only 0.8 percent. Growth rebounded to 4.2 percent in 2021, but heatwaves and a severe drought decelerated the recovery and have limited 2022 growth prospects, though a recovery is projected for 2023 and the medium-term. While the loss of agricultural export revenue is affecting Paraguay’s balance of payments in 2022, the external position in 2021 was stronger than the level implied by fundamentals and desirable policies.

Author : International Monetary,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 93 pages
File Size : 53,9 Mb
Release : 2023-02-10
Category : Business & Economics
ISBN : 9798400233173

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Jamaica by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

Jamaica has built a strong track record of investing in institutions and prioritizing macroeconomic stability. This aided the country to adapt to the difficult global environment of the past few years. The authorities provided targeted support to vulnerable households and firms during the pandemic but promptly scaled it back as conditions normalized. Similarly, in the wake of the war in Ukraine, domestic food and energy prices adjusted in line with shifts in international markets while targeted support was provided to the poor.

Author : International Monetary,International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 0 pages
File Size : 43,7 Mb
Release : 2022-11-04
Category : Business & Economics
ISBN : 9798400224669

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Mexico by International Monetary,International Monetary Fund. Western Hemisphere Dept. Pdf

Mexico’s economy has recovered more gradually from the pandemic than many peers. Even so, inflation has accelerated and has become more entrenched, as elsewhere. Domestic and external financial conditions tightened in the past year, while near-term growth prospects for the U.S., Mexico’s main trading partner, have weakened. The risks of capital outflows have risen. These new challenges compound Mexico’s long-standing problems of low growth and high inequality.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 62 pages
File Size : 55,6 Mb
Release : 2019-12-09
Category : Business & Economics
ISBN : 9781513522135

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Belize by International Monetary Fund. Western Hemisphere Dept. Pdf

This 2019 Article IV Consultation with Belize focused on structural reforms to raise growth and social inclusion; strengthening resilience to natural disasters; balanced medium-term fiscal consolidation; tax reform; and strengthening financial oversight and anti-money laundering and combating the financing of terrorism actions. Public debt remains above 90 percent of gross domestic product, the current account deficit is projected to remain large over the medium term, and international reserves are just below three months of imports of goods and services. The pace of structural reform has been slow. Downside risks, including from slower US growth, natural disasters, crime, and renewed pressures on correspondent banking relationships could weaken growth and financial stability. Belize is adapting its tax regime in response to concerns from multilateral institutions regarding potentially harmful features. Sustaining Belize’s recent economic expansion, spurring private investment, and facilitating structural diversification hinges on strengthening the business environment.

Author : International Monetary Fund. Asia and Pacific Dept
Publisher : International Monetary Fund
Page : 76 pages
File Size : 51,7 Mb
Release : 2022-12-15
Category : Business & Economics
ISBN : 9798400227103

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Philippines by International Monetary Fund. Asia and Pacific Dept Pdf

A new administration took office in July with a blueprint to secure an inclusive, sustainable, and green recovery. While the economy remains fundamentally sound, the new administration will face three important challenges: (1) striking the right policy mix to secure the recovery and safeguard price stability; (2) building fiscal buffers as insurance against downside risks; and (3) raising the Philippine’s long-term growth.

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 66 pages
File Size : 53,8 Mb
Release : 2018-11-16
Category : Business & Economics
ISBN : 9781484385418

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Belize by International Monetary Fund. Western Hemisphere Dept. Pdf

Belize’s economic growth has slowed over the last five years, following decades of outperforming regional peers. As in other countries in the region, a central challenge is exiting the cycle of low growth and elevated public debt. Belize’s 2017 debt rescheduling provided cash flow relief. In March 2017, the government reached a restructuring agreement with private external bondholders on its US$526 million bond (about 30 percent of GDP).1 As part of the agreement, the authorities committed to tighten the fiscal stance by 3.0 percentage points in FY2017/18 and to maintain a primary surplus of 2.0 percent of GDP for the subsequent three years. The authorities are delivering on these commitments and have made progress in implementing recent Article IV recommendations (Annex I).

Author : International Monetary Fund. Western Hemisphere Dept.
Publisher : International Monetary Fund
Page : 70 pages
File Size : 42,8 Mb
Release : 2017-09-19
Category : Business & Economics
ISBN : 9781484320082

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Belize by International Monetary Fund. Western Hemisphere Dept. Pdf

The macroeconomic outlook remains weak. Public debt remains elevated, at around 100 percent of GDP, despite a recent debt restructuring agreement with private external bondholders. Growth is projected at just under 2 percent over the medium term. The envisaged tightening of the fiscal stance reflected in the budget for FY2017/18, of 4 percentage points of GDP, is an important first step toward fiscal consolidation, but would not be sufficient to put public debt on a decisive downward trajectory. Withdrawal of Correspondent Banking Relationships (CBRs) and low capital buffers, particularly in a systemic bank, are key threats to financial stability.