July 31, 2022
Source: Ministry of Finance, The Bahamas
Date: 29 July 2022
The Debt Management Office (the “DMO”) of the Ministry of Finance is mandated under Section 61 of the Public Debt Management Act, 2021 (the “Act”), passed by Parliament in March and enacted in July, to prepare and publish public debt statistical bulletins (“PDSB”), no later than thirty calendar days after the end of each quarter of the fiscal year.
In keeping with this mandate, the June 2022 PDSB represents the fourth centralized collection of and dedicated publication on public debt statistics in The Bahamas by the DMO.
As prescribed in the Act, the content of the report includes:
- the outstanding stock of all public sector debt;
- the size and currency composition of the public sector debt;
- the interest rate mix of the public sector debt; and
- the maturity profile of the public sector debt.
The central Government’s debt stock increased to $10,729.8 million at end-June 2022— corresponding to gains of $857.5 million over end-June 2021 and $260.4 million from end-March 2021 (see Table 1). Reflecting the rebound in economic activity from the COVID-19 pandemic, outstanding debt tapered off to an estimated 85.1% of GDP at end-June 2022, from 87.5% at end- March 2022 and 100.9% at end-June 2021.
Debt of the public sector [central Government and Agencies and Government Business Enterprises (GBEs)] aggregated an estimated $12,131.0 million at end-June 2022. This represented a quarterly accretion of $287.8 million (2.4%) since end-March 2022, and an annual gain of $829.0 million (7.3%) relative to end-June 2021.
Dissemination of timely, consistent, comprehensive, reliable and internationally comparable public debt statistics represents a key element of the Government’s commitment to promote accountability and transparency in debt management activities. It also contributes to informed decision making of domestic policy makers for sustainable macroeconomic growth, and is an invaluable source of information for international organizations, investors and other stakeholders who have an interest in the management of public debt in The Bahamas.
The Ministry invites and encourages the public to visit the national Budget Website (www.bahamasbudget.gov.bs) to view the various statistical reports available to the public.
Download the FY2021/22 Quarter IV Public Debt Statistical Bulletin, June 2022 HERE