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I.M.F. report expects Belize's economy to slow in #338209
05/21/09 12:23 AM
05/21/09 12:23 AM
Joined: Oct 1999
Posts: 83,560
oregon, spr
Marty Offline OP

Marty  Offline OP
There is some grim news to report tonight that spell hard days ahead due to a weakened fiscal position. The Report of the I.M.F. is hot off the press and it essentially confirms what most observers have been anticipating; that the economy is expected to slow down in 2009 due in large part to the global economic downturn. According to the report dated May fourteenth, real G.D.P. growth is expected at one percent in light of a decline in the number of visitors and decreases in remittances to Belize. The I.M.F. also reports that in the 2009-2010 financial year, the overall balance of central government is expected to shift from a surplus to a deficit of close to two percent of G.D.P. due to G.O.B.ís recurrent spending. While the I.M.F. pointed to a favorable economic performance in 2008, it noted that Belize remains vulnerable. The silver lining is that inflation, which stood at ten percent in mid 2008, is expected to ease to two and half percent and the external current deficit could reduce. And to get on track, the I.M.F. urges a number of tough recommendations. Primarily, Belmopan is advised to restrain spending, including the public sector wage bill and to increase its tax revenue. And in respect of public sector programs, it calls on G.O.B. to reform the Social Security Board and the pension plan for public officers; to hold out on the N.H.I.; to give clarity to the D.F.C. mandate and to provide it with resources to cover its operating costs.

Turning to the F.I.U., it recommends an injection of resources for its functioning. The report ends with a call for continued commitment to good governance, the rule of law and contract enforcement. The report was prepared following consultations in Belize by its executive board.
Channel 5

Re: I.M.F. report expects Belize's economy to slow in [Re: Marty] #338226
05/21/09 06:45 AM
05/21/09 06:45 AM
Joined: Nov 2005
Posts: 164
Lake LBJ TX, and Mosquito Coas...
ambergrishog Offline
ambergrishog  Offline
Maybe the GOB ought to ask the past regime to give some of the ill gotten gains from the numerous financial scandals back to the rightful owners, the Belizean people.

Re: I.M.F. report expects Belize's economy to slow in [Re: ambergrishog] #339634
05/31/09 08:31 AM
05/31/09 08:31 AM
Joined: Jan 2002
Posts: 993
Caye Caulker, Belize
C Offline

.  Offline
How much slower can it get? Its already pretty darn slow.

Re: I.M.F. report expects Belize's economy to slow in [Re:] #339636
05/31/09 08:50 AM
05/31/09 08:50 AM
Joined: Nov 2004
Posts: 1,748
shuffles Offline
shuffles  Offline
I's a tortoise with three legs now.....

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