April 5, 2012
Wendy Craigg
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Financial Crisis plan finished by early 2014
Bahamian regulators expect to complete their work on a National Financial Crisis Management Plan by late 2013 or early next year, the Central Bank governor telling Tribune Business they were “completely vested” in the extra resiliency this would create in the industry.
Foreign reserves 'healthy' despite $70m fall from 2012
The Bahamas’ foreign exchange reserves remain “relatively healthy” despite having declined by $70 million year-over-year, the Central Bank’s governor acknowledging recent “challenges” in continually rebuilding them.
Credit Bureau, union Bills under review
REVIEWS of draft Bills that will create a Credit Bureau and bring Bahamian credit unions under the regulatory supervision of the Central Bank of the Bahamas will both be complete “in the coming months”, the latter’s Governor told Tribune Business.
BTC 'exacerbates' $265m FDI decline
A $265 million decline in year-over-year net foreign investment (FDI) into the Bahamas is not as bad as it seems, the Central Bank’s governor yesterday saying that stripping out the BTC privatisation proceeds produced a more “modest” 7.6 per cent fall.
Governor: $931m liquidity means no ‘crowding out’
The Central Bank’s governor yesterday said that “ample” banking system liquidity of $931 million would ensure the Government’s deficit financing needs did not ‘crowd out’ private sector capital raisings, telling Tribune Business there were “no concerns from that standpoint”.
‘SWITCH’ turn on target for 2013
The Central Bank of the Bahamas is targeting 2013 for implementation of a SWITCH payments infrastructure, its Governor yesterday telling Tribune Business this was part of a drive to “modernise” the financial system and bring “greater efficiencies” for the public and private sector.
Governor: Economy must 'grow faster' than 2.5%
Although Hurricane Sandy’s impact will not harm the Bahamas’ chances of achieving 2.5 per cent GDP growth for 2012, the Central Bank’s governor yesterday warned that the economy needed to grow at a faster rate to reduce the 14.7 per cent unemployment rate.
$100M Gov't bond 'oversubscribed'
The Central Bank of the Bahamas’ governor last night confirmed that the Government’s latest $100 million bond issue was “oversubscribed”, with a portion of the funds raised potentially funding its share of Baha Mar’s infrastructure works.
Exchange rate was 'never in jeopardy'
The Bahamas’ $838 million foreign currency reserves “are in line” with both their internationally-recognised adequacy benchmarks, the Central Bank of the Bahamas governor yesterday saying the one:one US dollar peg was “never in jeopardy” over the past decade.
‘Unusual’ full allocation from $200m bond issue
The Government’s $200 million bond issue has been fully subscribed, one leading banker telling Tribune Business it was “sort of unusual” that his institution received its full allocation.
FDI spikes by 'one third' to hit $1.5bn
By NEIL HARTNELL Tribune Business Editor Foreign direct investment (FDI) inflows into the Bahamas increased by "about one-third" in 2011 to hit $1.533 billion, a performance that the Central Bank of the Bahamas' governor yesterday said "significantly exc
External reserves 'run-off' in 2012 no major concern
External reserves 'run-off' in 2012 no major concern By NEIL HARTNELL Tribune Business Editor While the Central Bank of the Bahamas is expecting "some run-off" in the nation's external reserves, its governor yesterday told Tribune Business any drop woul
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