January 14, 2022
JOHN ROLLE
Stories this photo appears in:
Banks must ‘clear runway’ on high loan delinquencies
The Central Bank’s governor yesterday agreed that commercial institutions must “focus on clearing the runway a lot more for new lending” by tackling loan delinquencies that exceed Caribbean and international norms.
Brace for higher inflation as growth trimmed to 5%
The Central Bank’s governor yesterday trimmed forecast Bahamian economic growth for 2022 “to at least 5 percent” while warning that the cost of living crisis facing many families has yet “to peak”.
Governor targets loan delinquency ‘under 5%’
The Central Bank’s governor yesterday said he is targeting a commercial bank loan delinquency rate of “less than 5 percent” as some institutions push for an easing of lending restrictions.
Gov’t drove 59% of $523m reserve rise
The Government accounted for 59 percent of the 2022 first quarter’s $523m rise in The Bahamas’ foreign currency reserves, the Central Bank’s governor has revealed, although the banking sector subsequently took on the greater share.
‘Entrenched reduction?’: Bad loans down $22m
The Central Bank is “holding off” in determining whether COVID-related loan delinquencies have peaked despite a $22.4m reduction in non-performing credit during the 2022 first quarter, its governor revealed yesterday.
Governor warns economy ‘overpowered’ after 2023
The Central Bank’s governor yesterday warned that surging global inflation and other external risks “could overpower” the Bahamian economy once the return to pre-COVID output levels is completed in 2023.
Bahamian investment overseas to hit $100m
The Central Bank’s governor yesterday forecast investment by Bahamians in overseas capital markets and real estate could this year increase by 25 percent compared to pre-COVID and hit $100m.
Governor: Bahamas far away from debt default
The Central Bank’s governor yesterday voiced optimism that The Bahamas is far from a sovereign debt default as it retains multiple revenue-raising options including an income tax.
Central Bank to explore cross-border Sand Dollar
The Central Bank aims to explore the Sand Dollar’s use outside The Bahamas within the next three years, it was revealed yesterday, with 20 percent of this nation’s adults having no bank account.
Governor: US rate hikes may 'frustrate' fiscal consolidation
The Central Bank’s governor yesterday warned that US interest rate hikes could “frustrate” the Government’s fiscal consolidation plans by increasing its foreign currency borrowing costs.
Exchange controls to be ‘less of hindrance’
The Central Bank’s governor yesterday pledged to make exchange control restrictions “less and less of a hindrance” to Bahamian investors and companies seeking capital.
Pre-COVID output ‘not good enough’
The Central Bank’s governor yesterday warned that returning to pre-COVID economic output “is not enough” as he reaffirmed forecasts that GDP will expand by 8 percent in 2022.
Comments
Use the comment form below to begin a discussion about this content.
Sign in to comment
Or login with:
OpenID