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Foreign reserves stay over $3bn despite May decline

The Bahamas’ foreign currency reserves closed May 2022 above $3bn despite a $65m drop-off during the month, with the Central Bank reiterating its belief that they remain “more than adequate” to sustain the US dollar peg.

Over 35% of Gov’t local debt comes due in year

More than one-third of the Government’s domestic debt holdings, equivalent to around $2.3bn, is due to mature within the next year as it moves to eliminate “spikes” in principal redemption that place undue strain on its finances.

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Brewery succeeds in $1.2m tax challenge

Commonwealth Brewery has revealed it successfully challenged a $1.156m tax demand by the Government and is now awaiting its response to the arbitration ruling.

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