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Mortgage relief program enrollment rising slowly
May 03, 2017
Mortgage relief program enrollment rising slowly
The Christie administration's revamped mortgage relief program has enrolled 479 homeowners as of March 2017.
In its monthly economic report for March 2017, The Central Bank of The Bahamas (CBOB) said approximately 1,478 (88.4 percent) eligible homeowners were contacted.
Only 28.6 percent of eligible borrowers were enrolled in the program during the review month.
There were 1,744 eligible borrowers...
PM announces relaxation of Exchange Control measures that would assist certain Bahamian-owned business
April 01, 2017
PM announces relaxation of Exchange Control measures that would assist certain Bahamian-owned business
Prime Minister and Minister of Finance the Rt. Hon. Perry Christie announced in the House of Assembly, on March 29, 2017, that the Government has approved the relaxation of certain Exchange Control...
Debt-to-GDP ratio up to 87.4 percent
March 15, 2017
Debt-to-GDP ratio up to 87.4 percent
Government spending for just the second quarter of the current fiscal year expanded to $629.7 million, according to the Central Bank's December quarterly economic review report. In addition, the country's estimated debt-to-GDP ratio for total public debt increased to 87.4 percent at the end of 2016.
For the period in review, the deficit would have widened to $228.3 million from $85 million in the ...
February 26, 2017
Non-performing loans increase to 731.3 million in January
Non-performing loans (NPLs) increased to $731.3 million in January 2017, according to The Central Bank of The Bahamas' Monthly Economic and Financial Developments report for January 2017. The regulator said banks' credit quality indicators improved "marginally" for the period.
"On a monthly basis, banks reduced their total provisions for loan losses by $46.7 million (9.1 percent) to $468.2 million...
Central Bank reduces discount rate to 4
December 22, 2016
Central Bank reduces discount rate to 4
On the heels of The Bahamas being downgraded to "junk status" by credit ratings agency Standard & Poor's (S&P), The Central Bank of The Bahamas (CBOB) has decided, effective immediately, to reduce the discount rate - the interest rate charged by the Central Bank on loans to banks - a move that has not been done since June 2011.
The discount rate was slashed by 50 basis points and now stands at fou...
Nassau's Air Arrivals Off 16.5% in October
November 30, 2016
Nassau's Air Arrivals Off 16.5% in October
Visitor arrivals through Lynden Pindling International Airport (LPIA) were slightly ahead of last year for the first 10 months of 2016, despite a 16.5 per cent October drop-off due to Hurricane Matthew.
November 16, 2016
Governor praises efforts by banks to aid hurricane victims
WITH rebuilding efforts still underway after Hurricane Matthew, Central Bank Governor John Rolle said he has recognised efforts by commercial banks to relay his institution's "relaxed" lending criteria to their respective clients.
November 14, 2016
Debt financing not the way to go on disaster relief, report says
A recent report warned that disaster relief shortfalls financed through debt may endanger the debt positions of some small island developing states (SIDS).
November 04, 2016
Central Bank: Recovery effort will deteriorate fiscal position
Hurricane Matthew will deteriorate the government's fiscal position and apply additional pressure on the nation's deficit, according to The Central Bank of The Bahamas (CBOB).
Arrears increase in August 2016 versus 2015
October 05, 2016
Arrears increase in August 2016 versus 2015
According to the Central Bank of The Bahamas, mortgage, commercial, and consumer arrears increased in August 2016 versus August 2015.
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