7 News Belize

IMF Congratulates Belize, Says Large Financing May Be Needed For Compensation Settlement
posted (July 18, 2013)
On Tuesday, the IMF issued a press release on its Article IV consultation in Belize. This is after concluding its article four consultation with Belize on June 21st. The Fund's Executive Directors congratulated the authorities on the strong economic performance last year and the successful launching of Superbond 2.0. It warns that
"the government may face large financing needs over the medium term largely associated with compensation to the former shareholders of nationalized companies,"
pending legal rulings.

They urge government to moderate wage increases and broadening the base for the general sales tax – meaning fewer zero rated and exempt items. For context, we note that the Barrow Administration has a consistent record of paying little attention to IMF recommendations.

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7 News Belize