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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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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.

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‘No delusions’ on foreign reserves

The Central Bank has “no delusions” over an external reserves mix that will likely fall below pre-pandemic levels of $1.5bn prior to COVID-19 recovery starting, its governor said yesterday.

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Bank profit repatriation triples to $120m

A leading waste services provider yesterday slammed the “secrecy” surrounding the Government’s plans for New Providence’s landfill, after a foreign company’s bid to manufacture recycled products in the Bahamas was revealed.

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Governor: We saved $500m for reserves

The Central Bank’s governor yesterday disclosed that restrictions on foreign currency outflows imposed at COVID’s peak could have saved up to $500m in external reserves.

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Central Bank: $705m reserves beat target

The Central Bank of the Bahamas’ governor last night refuted suggestions this nation’s foreign reserve import coverage had reached “critical” levels, saying that at almost $705 million they were ahead of international benchmarks.

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WHOA! Equestrian Bahamas celebrates a successful season

EQUESTRIAN Bahamas celebrated a successful 2016-17 season at Mariposa Stables and Riding Club on Saturday.

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IMF ‘discourages’ foreign currency borrowing to boost reserves

The International Monetary Fund (IMF) has urged the Government to stop borrowing in international currency simply to boost the external reserves, which at $839 million at end-March were “low” and below the ‘three months’ worth of imports’ benchmark.

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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.

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Central Bank asked Gov't for $400m 'reserves boost'

The Central Bank of the Bahamas asked the Government to undertake $400 million worth of foreign currency borrowing this fiscal year to alleviate concerns over a “steady decline” in external reserves.

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Insurance fear on inflationary impact from VAT

A leading Bahamian insurer has expressed concern about a potential “one-time” balance sheet hit if claims reserves are not sufficient to absorb the 7.5 per cent Value-Added Tax’s (VAT) inflationary impact.

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Police reserves

I HAVE been a member of the RBDF Reserves for the past thirty-eight years and am currently attached to the north eastern division. The reason as to why I am writing this letter is because, we the hard working Reserve Officers, have not yet received any stipend since January 2018, which would have been payment for the month of December 2017.

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Bahamas beats exchange rate pressure average

The Bahamas’ fixed exchange rate has exceeded the average for small island states by coming under pressure three times’ between 1999-2010, an International Monetary Fund (IMF) paper has revealed, with its foreign reserves covering only 60 per cent of a new benchmark its authors have developed.

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Reserves bolstered by $247m from IMF

THE International Monetary Fund (IMF) has given the central bank $247m from special drawing rights (SDR) to bolster external reserves.

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Governor rejects non-essential import curb

The Central Bank's governor yesterday rejected as "bureaucratically inefficient" suggestions that The Bahamas impose restrictions on non-essential imports to protect the foreign currency reserves.

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Birds breeding successfully in Abaco

WHITE-tailed Tropic birds are breeding successfully in the Tilloo Cay Reserve in Abaco but may still be threatened by preying feral cats on the island, a recent Bahamas National Trust survey has found.

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'Worst ever mistake' for inflated reserves

The $2bn foreign exchange reserves are less healthy than they appear because of the Minnis administration’s “worst ever mistake”, a former Central Bank governor argued yesterday. James Smith, also a former finance minister, told Tribune Business tha

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Ex-governor: Reserves are 'surprisingly strong'

A former Central Bank governor says The Bahamas' critical foreign currency reserves are "surprisingly strong" at a level that is around $1bn higher than he had forecast.

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Restrictions give $300m foreign reserves 'buffer'

The Central Bank’s governor yesterday said measures imposed to restrict foreign currency outflows will create $300m in “buffers” to safeguard the external reserves and the fixed US dollar peg.John Rolle revealed that the regulator has suspended all a

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Economist warns reserves issues 'loom' long-term

The Bahamas faces a “looming problem” over the “lifeblood” of its economy if it is unable to swiftly attract significant foreign currency inflows, an economics lecturer warned yesterday.Rupert Pinder, who lectures at the University of The Bahamas, to

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