IMF Conclude 2023 Article IV Mission In Belize

The recent Belize Staff Concluding Statement of the 2023 Article IV Mission by the International Monetary Fund (IMF) has pointed out that risks to the country’s financial stability remain elevated, despite the positive economic progress made. The report (IMF VO) cites the consequences of the pandemic as a major contributing factor to these risks. The pandemic has left a lasting impact on Belize’s economy, with high levels of public debt and unemployment, which could hinder the country’s long-term recovery. The statement also warns that risks to the economic outlook remain tilted to the downside due to external factors such as global economic uncertainties and climate-related shocks. The report notes that these risks could pose significant challenges to Belize’s recovery efforts and hinder progress toward achieving sustainable growth. The IMF emphasizes the need for the government to continue implementing policies that support economic recovery and promote long-term stability. This includes measures to address fiscal imbalances and enhance the competitiveness of the economy.