The Bahamas: 2005 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for The Bahamas

July 7, 2005

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The Bahamas: 2005 Article IV Consultation-Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for The Bahamas, (USA: International Monetary Fund, 2005) accessed November 22, 2024

Summary

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.

Subject: Central banks, Economic sectors, International reserves, Monetary base, Money, Public debt, Public sector, Tourism

Keywords: Bahamian authorities, Caribbean, Central government, CR, Credit freeze, Economy, Global, Government, Government debt., Government endeavor, International reserves, ISCR, Monetary base, Public sector, Revenue regime, Tourism

Publication Details

Pages:

56
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2005/223
Stock No:

1BHSEA2005001
ISBN:

9781451804713
ISSN:

1934-7685

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