The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

CENTRAL Bank Governor John Rolle yesterday outlined several industries which will be be afforded more flexibility to raise financing from foreign sources should the Central Bank’s latest proposed exchange control relaxations be approved.

Mr Rolle said that the measure is designed to boost economic and business growth while delivering a presentation at  the Bahamas Chamber of Commerce and Employers Confederation’s (BCCEC) “State of the Bahamian Economy Report” forum yesterday.

Mr Rolle said the measures being eyed by the Central Bank and requiring government approval were designed to boost economic (GDP) and business growth by improving Bahamian firms’ ease of access to credit.

“There is nothing in the liberalisation proposal that will make your idea viable if it’s not viable now. You will still have to make sure that your projects are viable,” Mr Rolle stressed.

Among the sectors to likely be impacted, Mr Rolle noted, are agriculture and fisheries, manufacturing, commercial transportation, construction and real estate for residential tourism or second homes, energy and energy conservation, education, telecommunications and ICT.

“These are some areas that we believe we can encourage more investments in the Bahamas,” said the governor. Mr Rolle noted that external financing could be from “individual or institutional investors or financial institutions”. The Central Bank has issued a survey to Bahamian companies in a bid to gain data on the “issues and financial circumstances” facing businesses of all sizes.