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Sep 20, 2019

Belize Vulnerable to “Sudden Stop” in Investment Flows

A U.S. news outlet has published a list of countries considered vulnerable to professional scammers and Belize made the list. The article, published by WKZO FM in Michigan says that a number of a number of developing countries are struggling with big current account deficits and short-term financing needs, making them vulnerable to the kind of “sudden stop” in investment flows. According to an IMF working paper, Belize has struggled with a vicious circle of low growth and increasing public debt. Belize’s debt is rated B-minus/B-three by ratings agencies and with debt above ninety percent of G.D.P., Belize’s position is weaker than in a number of other emerging market economies. Over the years, Belize and government ministers have fallen prey to scam artists posing at developers. Sanctuary Bay and Puerto Azul are the most recent cases that dominated the headlines and worsened Belize’s image on the international stage.

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