The Resource Bahamas : Staff Report for the 2015 Article IV Consultation

Bahamas : Staff Report for the 2015 Article IV Consultation

Label
Bahamas : Staff Report for the 2015 Article IV Consultation
Title
Bahamas
Title remainder
Staff Report for the 2015 Article IV Consultation
Creator
Subject
Language
eng
Summary
Context. Economic activity strengthened somewhat in 2014 while the external current account deficit worsened primarily as a result of Baha Mar construction-related imports. The authorities continue to make substantial progress on fiscal consolidation with successful VAT implementation in January 2015 setting the stage for continued improvements in the fiscal position. Lower oil prices helped keep inflation anchored in 2014. Still, notwithstanding the capital flow management (CFM) regime, international reserves remain low. Key policy advice: Despite the U.S. recovery and the imminent opening of the Baha Mar resort, the growth outlook remains well below pre-global crisis levels, and strong and timely measures should be implemented to strengthen competitiveness and raise potential growth. In addition, rebuilding fiscal and external buffers will be essential for sustaining macroeconomic stability: Reigniting strong and inclusive medium-term growth. Structural reforms are needed to address longstanding competiveness issues including labor market impediments to growth. Energy sector reforms could substantially lower energy costs, boost productivity and facilitate economic diversification in the medium term. A diversification strategy should explore the potential for increasing value added in the tourism sector, including through deepening linkages with agriculture. Rebuilding fiscal and external buffers. Notwithstanding the CFM regime, the fixed exchange rate peg constrains monetary policy, leaving fiscal policy as the main instrument for macroeconomic stabilization. Steadfast implementation of the VAT and expenditure rationalization in the context of a medium-term budgetary framework, together with public enterprise reforms, would help rebuild fiscal buffers and support international reserves. Preserving financial sector stability. The pre-crisis credit boom has left the banking system with an overhang of non-performing loans, which will likely continue to generate headwinds for the economy. Despite this, the banking system remains very well capitalized and liquid. Measures should be put in place to resolve the debt overhang while further strengthening the regulatory and supervisory framework
Cataloging source
IDEBK
Dewey number
338.9
Index
no index present
LC call number
HD82.B24
LC item number
.I584 2015eb
Literary form
non fiction
Nature of contents
dictionaries
Label
Bahamas : Staff Report for the 2015 Article IV Consultation
Publication
http://library.link/vocab/branchCode
  • net
Carrier category
online resource
Carrier category code
cr
Carrier MARC source
rdacarrier
Content category
text
Content type code
txt
Content type MARC source
rdacontent
Contents
  • Cover; CONTENTS; RECENT DEVELOPMENTS, OUTLOOK AND RISKS; A. Recent Economic Developments; B. Macroeconomic Outlook and Risks; POLICY DISCUSSIONS; A. Reigniting Strong and Inclusive Medium-Term Growth; B. Rebuilding Fiscal and External Buffers; C. Enhancing Financial Sector Stability; D. Others; STAFF APPRAISAL; BOXES; 1. Assessment of Reserve Adequacy; 2. Where Does The Bahamas Stand in Efforts to Promote Inclusive Growth; 3. Recent Financial Sector Regulatory and Supervisory Developments; FIGURES; 1. Recent Developments; 2. Fiscal Developments and Outlook; 3. Exchange Rate Assessment
  • 4. External, Saving, and Investment Developments5. Financial Developments; 6. Structural Competiveness Indicators; TABLES; 1. Selected Social and Economic Indicators; 2. Operations of the Central Government; 3. Operations of the Central Government (in percent of GDP); 4. Outstanding Stock of Public Debt; 5. Balance of Payments; 6. Summary Accounts of the Central Bank and the Financial System; 7. Indicators of External and Financial Vulnerability; 8. Risk Assessment Matrix; ANNEXES; I. Debt Sustainability Analysis; II. External Current Account Prospects and External Competitiveness
  • III. Spillovers to The BahamasIV. The Bahamian Financial Sector: Structure, Trends, and Prospects; V. Energy in the Bahamas: Setting, Policies and Prospects; CONTENTS; FUND RELATIONS; FINANCIAL RELATIONS WITH THE INTER-AMERICAN DEVELOPMENT BANK; STATISTICAL ISSUES
Control code
ocn925285646
Dimensions
unknown
Extent
1 online resource
Form of item
online
Isbn
9781513568690
Media category
computer
Media MARC source
rdamedia
Media type code
c
http://library.link/vocab/ext/overdrive/overdriveId
840636
http://library.link/vocab/recordID
.b34932677
Specific material designation
remote
System control number
  • (OCoLC)925285646
  • imf1513568698

Library Locations

    • Deakin University Library - Geelong Waurn Ponds CampusBorrow it
      75 Pigdons Road, Waurn Ponds, Victoria, 3216, AU
      -38.195656 144.304955
Processing Feedback ...