The Bahamas: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas
IMF Staff Country Reports, January 17, 2025
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- The Bahamas: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas
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Bibliographic details
- Published: January 17, 2025
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400299315.002
Overview and Recent Performance
- The Bahamian economy has staged a remarkable recovery since the pandemic, fueled by a strong rebound in tourism.
- Economic activity is back to pre-Hurricane Dorian levels.
- Growth is slowing — expanding by 1.8 percent in H1 2024 — constrained in part by limited hotel capacity.
- Inflation is now modestly negative, but the cost of living remains high.
- Public finances are improving and borrowing costs have declined.
- Public debt remains high and its short duration represents an important vulnerability.
Key Findings and Statistics
- Growth: 1.8 percent in H1 2024.
- Inflation: described as "modestly negative."
- Public finances: improving; borrowing costs: declined.
- Public debt: characterized as high with short duration.
- Publication details:
- Pages: 81
- Volume: 2025
- Issue: 008
- Series: Country Report No. 2025/008
- DOI: https://doi.org/10.5089/9798400299315.002
- Stock No: 1BHSEA2025001
- ISBN: 9798400299315
- ISSN: 1934-7685
Policy Recommendations and Structural Priorities
- Monetary and liquidity management:
- Reduce the limit on central bank advances to the government.
- Adopt new liquidity management tools to help reduce systemic liquidity.
- Growth-enhancing structural measures:
- Invest in human capital.
- Close digitalization gaps.
- Relieve capacity constraints in tourism (e.g., limited hotel capacity).
- Reduce crime.
- Energy and climate-related measures:
- Implement plans to upgrade the electricity grid.
- Increase the share of renewables to, over the medium term, improve electricity reliability, boost growth, and reduce emissions.
Subject Areas and Keywords
- Subject: Anti-money laundering and combating the financing of terrorism (AML/CFT), Crime, Economic and financial statistics, External sector statistics, Public debt
- Keywords: Anti-money laundering and combating the financing of terrorism (AML/CFT), Bahamian authorities, Caribbean, CARTAC CARTAC, CARTAC FAD, energy reform plan, External sector statistics, Global, revenue-enhancing strategy
International Monetary Fund. The Bahamas: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas (Country Report No. 2025/008).
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- 1bhsea2025001-print-pdf