The Bahamas: 2010 Article IV Consultation-Staff Report; and Public Information Notice on the Executive Board Discussion

International Monetary Fund

No 2010/369, IMF Staff Country Reports from International Monetary Fund

Abstract: The Bahamas depends heavily on tourism and financial services. Executive Directors have commended the strong track record of prudent macroeconomic management, but have encouraged the government to broaden the domestic tax base, reduce distortions, increase the resilience of revenues to shocks, and specify contingency measures to reign in the growth in public debt. Greater transparency will underpin the medium-term fiscal strategy, and a higher international reserve coverage will help reduce vulnerabilities. Measures under way to strengthen the financial system have been commended.

Keywords: ISCR; CR; GDP; deficit; debt; sc; Inter-American Development Bank; liability positions vis-à-vis nonresident; central government deficit; one-off special drawing rights; CPI basket; International reserves; Public sector; Credit; Global (search for similar items in EconPapers)
Pages: 41
Date: 2010-12-20
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