Consultation for the removal of restrictions

(1) The Competent Minister shall consult with the Council for Finance and Planning before the imposition of restrictions mentioned in section 18 where practicable, with the objective of being informed of any recommendations for the removal of the (2) The consultations mentioned in sub-section (1) shall– (a) be designed to assist Belize to overcome its balance of payments and external financial (b) assess the balance of payments situation of Belize and the restrictions adopted or maintained under section 18, taking into account, inter alia– (i) the nature and extent of the balance of and external financial (ii) the external economic and trading environment of Belize; and (iii) alternative corrective measures which may be available. Caribbean Community 20 (Movement of Factors) (3) The consultations shall address the compliance of any restrictions with sub-section (3) of section 18 and, in particular, the progressive removal of restrictions in accordance with sub- section (3) (d) of section 18. (4) In such consultations, all findings of statistical and other facts presented by the Committee of Central Bank Governors relating to foreign exchange, monetary reserves and balance of payments shall be accepted and conclusions shall be based on the assessment by that Committee of the balance of payments and external financial situation of Belize.