IMF Executive Board Concludes 2008 Article IV Consultation with Belize

Public Information Notice (PIN) No. 08/29: Following an upturn in 2006, economic growth weakened in 2007, reflecting the impact of Hurricane Dean on agricultural output and tourism, closures in garment and aquaculture industries, and a leveling off in oil production. However, inflation remained low at 3 percent, and international reserves increased further, to US$108 million by end-2007.