The Mineral Industry Of Central American Countries

The Government of Belize maintained strict control over spending in 1982 as a means of protecting its import-dependent economy against the effects of a general worldwide recession. The modest economic performance was not expected to differ substantially from the $152 million2 gross national product (GNP) estimated for 1981. Exports and reexports were expected to decline in 1982, partly as a result of the Mexican peso devaluation. Imports were also expected to decline slightly in 1982, but the overall trade deficit was projected some-what higher than the $44 million experienced in 1981. On September 21, 1982, Belize became an independent state. As a result, the new Government became eligible for assistance from international organizations such as the International Monetary Fund, the International Bank for Reconstruction and Development (World Bank), and the United Nations Development Program (UNDP). Belize's independence from its former status as a colony of Great Britain was marred somewhat by the unsettled territorial dispute between Great Britain and Guatemala. Guatemala declared Belize was a part of Guatemala and. therefore. refused to recognize it as an independent state. Negotations between Great Britain and Guatemala continued without resolution.