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International Monetary Fund. Western Hemisphere Dept.
This paper discusses three important sectors of Belize economy: financial, sugar market, and energy. Belize’s banking system has continued to strengthen since the 2014 Article IV Consultation in June 2014. Despite recent improvements, some banks’ balance sheets are still weak and exposed to adverse macroeconomic developments. The sugar sector makes a very important contribution to Belize’s economy. The sector is estimated to account for about 4-5 percent of GDP, 9-10 percent of total exports, 8 percent of employment, and 5-6 percent of foreign exchange earnings. But the reform of EU sugar regime, scheduled to take full effect in 2017, will most likely cause a significant drop in the EU sugar price.
International Monetary Fund. Western Hemisphere Dept.

the government estimated the undeveloped hydroelectric potential of the country to be approximately 75 to 100 MW. Currently biomass accounts for 14 percent of total electricity output, and it could be substantially increased in a relatively short time. According to Belize Co-Generation Energy Limited, the country has additional bagasse resources that could be used for electricity generation. F. Conclusion 25. Belize’s increasing demand for energy and its heavy reliance on imported energy has made the country vulnerable to energy price volatility with non