Belize debts at 87% GNI

In 2008, Belize had a large external debt of USD 1 billion. With a population of only 332.000 earning an estimated USD 1.2 billion Gross National Income (GNI), Belize has a debt at 87% of GNI.

Much of this debt has reportedly been caused by rebuilding efforts that were needed after major hurricanes. In addition, it is claimed that fiscal mismanagement increased Belize’s external debts.