The Bahamas: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas
IMF Staff Country Reports, January 28, 2021
Source details
- Canonical URL
- The Bahamas: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas
Other formats
Bibliographic details
- Published: January 28, 2021
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513567839.002
Summary and Economic Impact
- The economic impact of COVID-19 on The Bahamas is unprecedented.
- The archipelago was just recovering from the devastation of Hurricane Dorian in the fall of 2019 when the pandemic led to a sudden stop in tourism, the main source of income and employment.
- The authorities mounted a rapid emergency response to support the economy and vulnerable households and put in place strict containment measures.
- Amid limited testing and health resources, reopening the economy has been challenging.
Key Subjects and Keywords
- Subject: Commercial banks, COVID-19, Credit, Natural disasters, Public debt
- Keywords: asset registry, central bank of The Bahamas, COVAX Facility, CR, IMF staff calculation, ISCR, loan moratoria
Notable Analytical Points (from the summary)
- Tourism is identified as the main source of income and employment; the pandemic caused a sudden stop in tourism activity.
- The Bahamas faced the compounded shock of Hurricane Dorian (fall of 2019) followed by the COVID-19 pandemic in 2020.
- Emergency fiscal and containment measures were undertaken, but limited health-system capacity (testing and resources) has constrained reopening.
International Monetary Fund. Western Hemisphere Dept. "The Bahamas: 2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas", IMF Staff Country Reports 2021, 024 (2021), accessed 9/11/2026, https://doi.org/10.5089/9781513567839.002
Content in this bundle
- 1bhsea2021001