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Belize: Selected Issues and Statistical Appendix

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  • International Monetary Fund

Abstract

An illegal parallel market for foreign exchange is prevalent in Belize. Its emergence and continued existence is attributed to the pervasive exchange controls, attempts to avoid banking fees, as well as the prevalence of cash transactions in the tourist sector. Overall, the financial system appears sound, the banking system is well capitalized, and the insurance sector has been able to pass most of the risks offshore through reinsurance. The supervisory and regulatory framework for commercial banks appears sound, but there is scope for improvement.

Suggested Citation

  • International Monetary Fund, 2004. "Belize: Selected Issues and Statistical Appendix," IMF Staff Country Reports 2004/101, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2004/101
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    References listed on IDEAS

    as
    1. Kiguel, Miguel & O'Connell, Stephen A, 1995. "Parallel Exchange Rates in Developing Countries," The World Bank Research Observer, World Bank, vol. 10(1), pages 21-52, February.
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