The IMF has issued its closing statement on its recently concluded Article IV consultation in Belize - and it's mostly good.

They note approvingly that significant progress has been made towards restoring debt sustainability, utilizing fiscal consolidation measures such as, quote, "cuts to public sector wages and purchases of goods and services, which are projected to reduce government expenditure by 3.4 percent of GDP in financial year 2021," end quote.

They note also the Superbond conversion to the Blue Bond - which they confirm reduced Belize's public debt by 12 percent of GDP in 2021.

The statement also points out, quote, "Economic activity is recovering strongly and�.Real GDP is projected to grow 6.5 percent in 2022. The unemployment rate also declined from 13.7 percent in the second half of 2020 to 9.2 percent in the second half of 2021." End quote.

And while all those sound good, the report confirms, quote, end of year inflation rose to 4.9 percent in 2021 driven by higher international energy and food prices but is projected to moderate to 3.5 percent in 2022." End quote.

The report also notes that Belize's reserves increased from $348 million US dollars to $420 million US dollars - almost 4 months of imports - in 2021.

Channel 7