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The Central Bank of the Bahamas.

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Governor trims growth forecast ‘closer to 4%’

The Bahamas’ stopover visitor numbers rebounded to 97 percent of pre-COVID levels in the 2023 first quarter, the Central Bank’s governor said yesterday, while slightly trimming his full-year economic growth forecast.

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Central Bank’s ‘inclusion’ aid for politically exposed

The Central Bank is moving to ensure politically exposed persons (PEPs) are “not excluded” from the Bahamian banking system by making scrutiny of them “more client friendly”.

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$10.4bn national debt bigger than economy

The Bahamas’ $10.4bn national debt is bigger than the size of its economy, it was confirmed yesterday, further exposing the “daunting challenge” the Government faces in tackling twin economic and fiscal crises.

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Overseas investment COVID bar removed

The Central Bank yesterday confirmed that Bahamians will be able to resume purchasing overseas securities and real estate from October 1 after seeing a sufficient uptick in tourism-related foreign currency inflows.

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Reserves bolstered by $247m from IMF

THE International Monetary Fund (IMF) has given the central bank $247m from special drawing rights (SDR) to bolster external reserves.

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Credit unions brace for ‘heightened oversight’

The Central Bank has pledged that credit unions will be subjected to “heightened oversight” because they have “very minimal excess capital” with which to withstand a surge in COVID-related loan delinquencies.

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Central Bank signals reserves past danger

The Clearing Banks Association’s chairman yesterday said he is “not jumping through hoops just yet” despite the Central Bank’s actions signalling the post-COVID recovery is on “an upward trend”.

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