External reserves to end 2022 ‘not far from’ $2bn
The Central Bank’s governor yesterday predicted that The Bahamas’ external reserves will end 2022 “not far off $2bn” and ensure the US dollar exchange rate peg faces “no undue pressure”.
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.
Bank governor eases 2022 growth forecast
The Central Bank’s governor yesterday moderated his 2022 economic growth projection to “over 5 percent” with the tourism industry not returning to pre-COVID levels in the year’s first half.
PM tells banks: Open accounts in 24 hours
The Prime Minister wants all Bahamas-based commercial banks to be able to open customer accounts within “a 24-hour deadline”, a senior banker revealed yesterday.
‘Number one priority’ to reverse productivity fall
Workforce productivity in The Bahamas fell in five of the six years prior to Hurricane Dorian, it was revealed yesterday, with a Chamber executive saying reversing this must be “number one priority”.
‘Trade off’ over civil service pay restraint
The Ministry of Finance’s top official says the rebounding economy will help the Government restrain public sector wages to $660.5m in four years’ time - a sum $10m below the current Budget.
The truth behind the Fed’s rate inaction
ActivTrades
MANY investors and analysts were caught by surprise after last week’s ‘No-Event’ from the Federal Reserve’s Open Market Committee (FOMC) meeting. The Fed’s chairman, Jerome Powell, only came with words rather than actions at last Wednesday’s press conference, where he announced the FOMC did not make any changes to short-term interest rates, even though this had been widely expected.
New tax measures to bridge ‘gap’ over Gov’ts extra $1.3bn
The Government will bridge the “gap” to its $1.3bn revenue increase with “additional measures” in the upcoming mid-year Budget as it faces criticism for “very extreme” fiscal forecasts.
Creating an identity as a true republic
IN this segment, we will explore the various impacts if The Bahamas became a Republic, and moved away from a constitutional parliamentary democracy. This discussion follows Barbados departing from being an independent dominion, in which the Queen acted as head of state as represented by a governor-general.
Employment won’t return to pre-Dorian levels until 2025
Bahamian employment will not fully recover to pre-COVID and Dorian levels until 2025, marking a six-year stretch where the economy has endured elevated jobless numbers.
Gov’t to expand fiscal responsibility targets
The Government is pledging to reform the Fiscal Responsibility Act by expanding its scope to further boost accountability and transparency surrounding how the public finances are managed.
Hotel chief backs ‘diversity’ from Emirates tourism deal
The Bahamas Hotel and Tourism Association (BHTA) president says “diversity is important” after this nation signed an agreement with Emirates Group to promote its largest industry.
Lucayan union deal a ‘betrayal of trust’
The Grand Lucayan’s ex-chairman yesterday blasted the Government’s decision to settle with the resort’s managerial union as “a betrayal of trust” that has heaped further costs on taxpayers.
Gov’t predicts national debt’s peak at $11.2bn
The Bahamas’ national debt is forecast to peak at $11.2bn in the 2023-2024 fiscal year, it was revealed last night, and return to the legally-required 50 percent of GDP threshold by the next decade.
Foreign appraisers ‘an insult’ to local realtors
A Bahamian realtor yesterday argued that the use of foreign appraisers is “an insult” to the local industry as he backed arguments that the 2022 real property tax bills are “null and void”.
