Belize 

Belize country policy

Policy established 04 April 2011

• The country ceiling is 30 mln euro
• Early warning signal 30 mln euro
• Private buyers: SIF facility, FX generating buyers only

Country class: 6

Belize country facts

Atradius Dutch State Business Economic Research
Country Report last updated :  20 May 2011
Country :  BELIZE

Political Situation
Reasonably Stable

Head of state
Governor general Sir Colville Young.

Form of government
Government of the United Democratic Party (UDP), headed by prime minister Dean Barrow.

Internal Economic Situation
Rather Poor; Still Weak Fiscal Situation

General situation
Lacklustre GDP-growth as the weak public finance is exerting a downward bias on the domestic economy. Real GDP-growth was curbed to not more than appr. 1% p.a. in the last few years. In Oct 2010 this weak performance was accentuated by severe damage of hurricane Richard, causing cuts in the citrus output. Although increasing, still low rate of inflation: mid-2010 1.8% p.a. Banking sector is liquid and well capitalized but level of NPL’s has risen strongly; 4 out of 5 banks are foreign owned. 
 
External Economic Situation
Weak

Main sources of foreign exchange
Crude oil, marine products, sugar, bananas, citrus fruit, timber, tourism, transfers.

Main foreign markets
EU (39%), USA (31%), Latin America (15%).

Main expenses of foreign exchange
Machinery and transportation equipment. 
 
Balance of payments 
Although oil exports and good tourist figures have helped to lower the current account deficits in the last few years, the external financial position has remained weak depending on capital imports and other inflows to maintain the rather poor liquidity position.