The Bahamas: 2019 Article IV Consultation-Press Release; and Staff Report

July 1, 2019

Preview Citation

Format: Chicago

The Bahamas: 2019 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2019) accessed November 23, 2024

Summary

Growth has returned after years of stagnation. The reform-oriented government is tackling structural issues, with notable achievements in the fiscal area. The financial sector is sound and resilient to current stability threats, but credit remains scarce. The offshore sector faces heightened international scrutiny and the government is taking steps to strengthen compliance with AML/CFT and tax transparency standards. Tourism and related foreign investments will support growth in the near-term, while low competitiveness and diversification dampen medium-term prospects. Growth would suffer from a slowdown in the U.S. or higher oil prices, and hurricane vulnerability persists. Reform momentum could stall, undermining fiscal consolidation efforts.

Subject: Budget planning and preparation, Credit, Money, PFM legal and regulatory frameworks, Public debt, Public financial management (PFM)

Keywords: Budget deficit, Budget planning and preparation, Caribbean, CARTAC, Consumer price index, CR, Credit, Credit growth, Debt management, GDP, Global, Growth prospect, IMF staff projection, ISCR, PFM legal and regulatory frameworks, Private sector, Real GDP

Publication Details

Pages:

72
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/198
Stock No:

1BHSEA2019001
ISBN:

9781498323253
ISSN:

1934-7685

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