Headlines:
| IMF concerned about Belize’s debt |
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| Monday, 17 December 2007 | |
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The International
Monetary Fund (IMF) has expressed concern about the national debt in Belize. In a recent report, the IMF said though the debt agreement early this year had provided substantial liquidity relief, Belize's high debt, vulnerable budget position and low international reserves could affect its financial stability and growth. In the statement, the IMF said an ambitious 2008 budget, with the right medium term fiscal policies could serve to send the right signals to the international financial community and assist the CARICOM member state in accessing financing at favourable terms. It said it could pave the way when existing loans become due and more "substantial" financing is required. In its economic outlook, the IMF said for 2008, real GDP growth is projected at about three per cent and inflation is expected to ease to 2.5 per cent. |