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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.

$6m claims jump drives Bahamas First into loss

Bahamas First has warned “it will take some time” to correct problems with its Cayman subsidiary’s life and health portfolio that have been blamed for a $6m-plus jump in claims payouts.

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External reserves jump on banks’ $84m inflow

The Bahamas’ external reserves grew by almost $55m in February 2022 as commercial banks collectively received a net $84.2m foreign currency inflow from their customers.

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