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IMF Highlights Belize’s Approach to Strengthening Public Finances

Belize has been highlighted by the International Monetary Fund as an example of how countries can strengthen public finances. In a publication on its website, the IMF noted that Belize, Colombia and Ghana are three examples of how countries can tap into the potential of technology and innovation to strengthen public finances. The article reads, in part, quote, “across the world, countries are coming up with innovative solutions to strengthen public finances, improve accountability and transparency in the public sector, and even generate cash for conservation. Three case studies highlight these novel policy approaches, which could hold lessons for other countries.” End of quote. As it relates directly to Belize, the IMF cited the debt-for-nature swap with the Nature Conservancy that has cut the country’s external debt by a striking ten percent of its GDP; adding that there are possibilities for similar swaps to fund conservation or climate work in other countries that have high levels of debt.