Belize Economy Overview
Belize is located in Central America, bordering the Caribbean Sea, between Guatemala and Mexico. Its climate is tropical; very hot and humid; rainy season (May to November); dry season (February to May). Mostly flat, swampy coastal plain; low mountains in south. The country’s natural resources include arable land potential, timber, fish, hydropower. Some of the natural hazards that affect the country are frequent, devastating hurricanes (June to November) and coastal flooding (especially in south). Belize is the only country in Central America without a coastline on the North Pacific Ocean. There have been territorial disputes between the UK and Guatemala delayed the independence of Belize (formerly British Honduras) until 1981. Guatemala refused to recognize the new nation until 1992. Tourism has become the mainstay of the economy. The country remains plagued by high unemployment, growing involvement in the South Ame
rican drug trade, and increased urban crime. Belize is a small private enterprise economy is based primarily on agriculture, agro-based industry, and merchandising, with tourism and construction having greater importance. Sugar, the chief crop, accounts for nearly half of exports, while the banana industry is the country\'s largest employer. The government\'s tough austerity program in 1997 resulted in an economic slowdown that continued in 1998. The trade deficit has been growing, mostly as a result of low export prices for sugar and bananas. The new government faces important challenges to economic stability. Rapid action to improve tax collection has been promised, but a lack of progress in reigning in spending could bring the exchange rate under pressure.
Some topics in this essay:
National Assembly,
Guatemala Mexico,
America Major,
Advisory Council,
British Honduras,
South American,
Roman Catholic,
Elizabeth II,
June November,
Mayan Garifuna,
prime minister,
five-year terms,
doing business,
national assembly,
commodities include,
central america,
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Approximate Word count = 622
Approximate Pages = 2 (250 words per page double spaced)
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