External Debt in Belize
Belize - External DebtThe coronavirus pandemic wreaked havoc on an already-precarious economic situation in the first quarter of the year. Merchandise exports plummeted throughout Q1 as demand for key agricultural products diminished, while tourism levels plunged in March as worldwide lockdown measures curtailed visitor arrivals. Heading into the second quarter, the panorama appears similarly dire, with a continuation of severe drought conditions likely affecting key agricultural production. In other news, on 12 May Moody’s cut its credit rating for Belize to Caa1 from B3 and lowered its outlook to negative from stable. The downgrade came on the back of deepening concerns over Belize’s ability to meet upcoming debt payments as the fallout from the coronavirus pandemic ravages vital tourism revenues.
Belize - External Debt Data
|External Debt (% of GDP)||76.0||75.8||74.5||74.5||73.7|
5 years of economic forecasts for more than 30 economic indicators.
Belize External Debt Chart
Source: Central Bank of Belize and FocusEconomics calculations.
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