The Bahamas 2009 Article Iv Consultation Staff Report Staff Supplement And Public Information Notice On The Executive Board Discussion
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| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 50 |
| Release | : 2009-06-18 |
| Genre | : Business & Economics |
| ISBN | : 1451877358 |
The staff report for The Bahamas’s 2009 Article IV Consultation examines economic developments and policies. The financial sector, including the offshore sector, accounts for about 20 percent of economic activity. Exchange controls are maintained on capital transactions, narrowing the field of investment opportunities for local wealth, largely to real estate and government debt. Macroeconomic policy has historically been geared to maintaining fiscal sustainability, attracting investment, and supporting the exchange rate peg.
| Author | : Christopher Towe |
| Publisher | : |
| Total Pages | : 54 |
| Release | : 2005 |
| Genre | : |
| ISBN | : |
| Author | : International Monetary Fund |
| Publisher | : INTERNATIONAL MONETARY FUND |
| Total Pages | : 56 |
| Release | : 2005-07-07 |
| Genre | : Business & Economics |
| ISBN | : 9781451804713 |
The Bahamas’s 2005 Article IV Consultation reports that the economic slowdown has contributed to deterioration in the fiscal accounts. The Bahamas is a small, open, and relatively wealthy economy, which is highly dependent on tourism from the United States and offshore financial activities. Offshore financial activities have developed rapidly since the early 1990s and account for roughly 15 percent of GDP. This has reduced the economy’s dependence on the tourism sector, which is focused on the higher end of the U.S. market but still accounts for one-fourth of GDP.
| Author | : International Monetary Fund |
| Publisher | : INTERNATIONAL MONETARY FUND |
| Total Pages | : 49 |
| Release | : 2008-01-17 |
| Genre | : |
| ISBN | : 9781451804737 |
Prudent macroeconomic management, strong growth, low inflation, small fiscal deficit, and public debt have helped The Bahamas attain the highest standard of living in the Caribbean. Executive Directors supported the government's goals of balancing the budget and reducing debt. They encouraged the use of market-based monetary policy and tax administration. They emphasized the need of a macroeconomic policy framework, international reserves, and a strong financial framework. Directors appreciated the performance of the financial system and also for modernizing the regime to combat money laundering and terrorism financing.
| Author | : |
| Publisher | : |
| Total Pages | : 58 |
| Release | : 2008 |
| Genre | : Bahamas |
| ISBN | : |
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 47 |
| Release | : 2003-07-23 |
| Genre | : Business & Economics |
| ISBN | : 1452714584 |
The Bahamas showed strong performance owing to its prudent macroeconomic management. Executive Directors welcomed this step, and emphasized the need to strengthen fiscal and international reserve positions, and diversify the economic base to maintain confidence and reduce economic vulnerabilities. They stressed the need to accelerate structural reforms, improve financial supervision and regulation, and to bring the regimes for combating money laundering and terrorism financing. They appreciated The Bahamas's participation in the General Data Dissemination System, and encouraged action to remove inconsistencies that exist in the economic data.
| Author | : |
| Publisher | : |
| Total Pages | : 48 |
| Release | : 2003 |
| Genre | : Fiscal policy |
| ISBN | : |
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 57 |
| Release | : 2010-12-15 |
| Genre | : Business & Economics |
| ISBN | : 1455212857 |
The global crisis has hit Barbados front and center. The broad economic weakness has hurt the labor market, while inflation remains stubbornly elevated. The major challenge ahead is to put public debt on a steady declining path to support both domestic and external stability. A decisive fiscal adjustment is the best way to protect the exchange rate peg while the current monetary stance is broadly appropriate. Banks remain healthy, but tighter regulations are needed. Supervision of nonbank financial institutions needs to be revamped.
| Author | : International Monetary |
| Publisher | : International Monetary Fund |
| Total Pages | : 84 |
| Release | : 2022-05-09 |
| Genre | : Business & Economics |
| ISBN | : |
The Bahamas is experiencing a tourism-led rebound. Real GDP growth in 2021 was close to 14 percent, as stayover tourist arrivals doubled relative to 2020. The economy is projected to expand by 8 percent in 2022. Nonetheless, it will likely take until 2024 to return to the 2019 level of GDP and the pandemic has given rise to significant human and social costs. The country’s medium-term growth challenges are likely worse than before, and public finances are in a more precarious state. Risks are skewed downwards given a difficult near-term financing situation, rising inflationary—and potentially BOP—pressures because of the war in Ukraine, an ongoing threat from the evolving pandemic, and the country’s high vulnerability to natural disasters.
| Author | : International Monetary Fund |
| Publisher | : International Monetary Fund |
| Total Pages | : 96 |
| Release | : 2010-01-29 |
| Genre | : Business & Economics |
| ISBN | : 1451825536 |
This paper examines the Maldives’ 2009 Article IV Consultation on economic developments and policies. The Maldivian economy is facing large external and fiscal imbalances, resulting from the severe impact of the global financial crisis and exacerbated by an unsustainable fiscal expansion. The global crisis has led to sharp declines in tourism and related investment, other net capital flows, and exports. This has caused a significant fall in fiscal revenue, compounding a large increase in public spending, and pushed the economy into recession. A rising share of the resulting fiscal deficit has been financed by monetization.
