July 7, 2016
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The “extraordinary beating” inflicted upon the tourism industry by COVID-19 was critical in Moody’s decision yesterday to strip The Bahamas of its ‘investment grade’ credit rating, the deputy prime minister says.
The deputy prime minister yesterday warned "there is no restart button" for fully relaunching a Bahamian economy that Moody's is projecting will grow by 2 percent next year.
The Bahamas is among the top four nations forecast to be hit hardest by rising sea levels, a rating agency warned yesterday, with up to 15 percent of annual GDP and 11 percent of its people in peril. Moody’s, unveiling an assessment about the long-t
The economic boost from Hurricane Dorian recovery “could be limited” by the 60 percent of Bahamian households who failed to fully insure, a global credit rating agency has warned. Moody’s, in an assessment that underlined how the category five storm
Moody’s yesterday warned the Government it will likely miss its target of generating a small Budget surplus by 2020-2021, predicting it will still be running a deficit equal to 1 percent of GDP.
Moody’s is urging further “restraint” in public spending while predicting that the government will miss the 1.8 percent deficit target set by the Fiscal Responsibility Act for 2018-2019.
MOODY’s said yesterday strengthening in The Bahamas’ tourism sector and continued foreign direct investment projects will help sustain growth in the range of 1.5 to two percent over 2018-2019.
The Bahamas’ 2016-2017 fiscal deficit could rise as high as $636 million or 7 per cent of GDP, Moody’s has warned, due to the Christie administration’s pre-election spending binge.
LONG Island MP Loretta Butler-Turner chastised Prime Minister Perry Christie on Friday for his "delusional and incoherent" response to the threat of possible downgrade by rating agency Moody's.
The Bahamas is on the fast track to an economic downgrade.