The Bahamas: 2019 Article IV Consultation-Press Release; and Staff Report

International Monetary Fund

No 2019/198, IMF Staff Country Reports from International Monetary Fund

Abstract: Growth has returned after years of stagnation. The reform-oriented government is tackling structural issues, with notable achievements in the fiscal area. The financial sector is sound and resilient to current stability threats, but credit remains scarce. The offshore sector faces heightened international scrutiny and the government is taking steps to strengthen compliance with AML/CFT and tax transparency standards. Tourism and related foreign investments will support growth in the near-term, while low competitiveness and diversification dampen medium-term prospects. Growth would suffer from a slowdown in the U.S. or higher oil prices, and hurricane vulnerability persists. Reform momentum could stall, undermining fiscal consolidation efforts.

Keywords: ISCR; CR; GDP; CARTAC; real GDP; consumer price index; IMF staff projection; debt management; private sector; budget deficit; credit growth; growth prospect; PFM legal and regulatory frameworks; Budget planning and preparation; Credit; Global; Caribbean (search for similar items in EconPapers)
Pages: 72
Date: 2019-07-01
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