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Belize Dec 11
Standard & Poors, Dec 2011
Abstract
Stable external amortization profile over the medium term; and Official external financing. Weak medium-term economic growth and investment outlook, propelled by weak growth outlook on Europe and the U.S., declining oil production, and low foreign direct and domestic investment prospects; External imbalances, stemming from the structure of Belize's small, open economy that is highly dependent upon oil, tourism, and agricultural exports, and foreign direct investment (FDI) to finance its imports; Weak political institutions and rising crime rates; Large general government debt burden; and Contingent fiscal liabilities resulting from compensation claims from recently acquired public-sector enterprises and from fragilities within the financial system. The recent outlook revision to negative from stable reflects diminishing political incentives to service Belize's external debt. A...
Companies mentioned in this report are: Belize
Action: Review
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research Type: Full Analysis
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