The Bahamas: 2017 Article IV Consultation-Press Release; and Staff Report

October 6, 2017

Preview Citation

Format: Chicago

The Bahamas: 2017 Article IV Consultation-Press Release; and Staff Report, (USA: International Monetary Fund, 2017) accessed September 18, 2024

Summary

This 2017 Article IV Consultation highlights the continued weak economic activity in The Bahamas in 2016. Hurricane Matthew, which hit The Bahamas in October 2016, significantly impacted tourism activity in 2016 and early 2017. However, completion of the megaresort Baha Mar and posthurricane reconstruction activity gave a boost to job creation: the unemployment rate declined to 9.9 percent in May 2017. Real GDP growth is projected to pick up to 1.75 percent in 2017 and to 2.5 in 2018, driven by a stronger US economy, the phased opening of Baha Mar, and related construction activity. However, medium-term growth would remain low, reflecting significant structural bottlenecks.

Subject: Banking, Credit, Financial institutions, Fiscal consolidation, Fiscal policy, Money, Nonperforming loans, Public debt, Revenue administration

Keywords: Bahamas, Caribbean, CARTAC mission, Central bank, Central government debt-to-GDP ratio, CR, Credit, Current account, Development priority, Financial asset, Fiscal consolidation, Global, Government, Hurricane reconstruction activity, IMF staff calculation, ISCR, Nonperforming loans, Reconstruction spending

Publication Details

Pages:

71
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2017/314
Stock No:

1BHSEA2017001
ISBN:

9781484323090
ISSN:

1934-7685

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