The Bahamas: Financial Sector Stability Assessment

International Monetary Fund

No 2013/101, IMF Staff Country Reports from International Monetary Fund

Abstract: This article is an overview of the structure of the Bahamian financial system. After the financial crisis in the United States, the Bahamian financial structure showed fragile growth. Tourism, the main source of income for the domestic economy, weakened owing to the U.S. crisis. The increase in oil prices was the key reason for the destroyed infrastructure. However, amidst the vulnerabilities, the banking sector showed stability with high capital and liquidity and sustained challenges; the insurance sector also showed significant improvement. The current financial framework needs to be strengthened, and the mission recommends several reforms to handle financial shocks.

Keywords: ISCR; CR; liquidity position; securities Commission of The Bahamas; U.S. dollar; bank lending; interest rate; financial system; CLICO Bahamas liquidation update; parent company; capital base; CBoB supervision; CBoB authority; Bahamas liquidation update; excess reserves; price index; onshore bank; offshore bank; Commercial banks; Insurance companies; Nonperforming loans; Global; Caribbean (search for similar items in EconPapers)
Pages: 88
Date: 2013-04-11
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=40475 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2013/101

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().