DOCSLIB.ORG

Pub-6027 a World Bank Country Study

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

PUB-6027 A WORLD BANK COUNTRY STUDY Public Disclosure Authorized THE BAHAMAS Economic Report Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized H ' .,:'f....( il,.,j } i 1- 11 **f - A WORLD BANK COUNTRY STUDY THE BAHAMAS Economic Report The World Bank Washington, D.C., U.S.A. Copyright ©) 1986 The InternationalBank for Reconstruction and Development/THEWORLD BANK 18I8 H Street, N.W. Washington,D.C. 20433, U.S.A. All rights reserved Manufacturedin the United States of America First printing June I986 World BankCountry Studies are reports originallyprepared for internal use as part of the continuing analysisby the Bank of the economic and related conditions of its developing membercountries and of its dialogueswith the governments. Some of the reports are publishedinformally with the least possibledelay for the use of governments and the academic, business and financial,and development communities.Thus, the typescripthas not been prepared in accordancewith the proceduresappropriate to fornal printed texts, and the World Bankaccepts no responsibilityfor errors. The publication is suppliedat a token charge to defray part of the cost of manufactureand distribution. The designations employed,the presentationof material,and any maps used in this documentare solely for the convenienceof the reader and do not imply the expression of any opinion whatsoeveron the part of the World Bankor is affiliatesconcerning the legal status of any country, territory, city, area, or of its authorities,or concerning the delimitationof its boundariesor national affiliation. The most recent World Bankpublications are describedin the annual spring and fall lists; the continuing research program is described in the annual Abstractsof Current Studies.The latest edition of each is availablefree of charge from the PublicationsSales Unit, Department T, The World Bank 1818 H Street, N.W, Washington,D.C. 20433, U.S.A.,or from the EuropeanOffice of the Bank,66 avenue d'lIna, 75116 Paris, France. Libraryof Congress Cataloging-in-PublicationData The Bahamas : economic report. (A World Bank country study) "Derived from an IBERDeconomic mission to the cormonwealthof the Bahamas in May 1985, led by Mr. R.J. Robinson"--Galley. 1. Economic forecasting--Bahamas. 2. Bahamas-- Economic conditions. I. InternationalBank for Reconstructionand Development. II. Series. HC152.B34 1986 330.97296 86-13202 ISBN 0-8213-0785-1 PREFACEAND ABSTRACT This report is derived from an IBRD economic mission to The Commonwealthof The Bahamas in May 1985, led by Mr. R. J. Robinson. The mission consisted of Ms. D. Velasco (IBRD),Ms. N. Pirnia (IBRD), Mr. P. Joyce (IMF) and Mr. D. Davis (consultant). The mission received assistance in the assessment of the technicalassistance needs from the United Nations Development Programme, consisting of Ms. B. McSweeney (UNDP Representativefor The Bahamas), Ms. A. Ebanks (UNDP, Jamaica) and Mr. M. Salzman (UNDP, New York). As is IBRD practice, individualprofiles of technical assistance needs and project plans are not included in red cover reports. Further details on specific technical assistanceneeds may be obtained from UNDP (Jamaica) or from IBRD. This report reviews the recent performanceof The Bahamas economy, and analyses developmentissues and prospects facing The Bahamas. The economy has performed moderatelywell in the early 1980s, recording positive economic growth with no balance of payments problems, and with an improved fiscal position. Much of this good performancecan be attributed to the steady growth in tourist arrivals. The outlook for the rest of the decade is very positive, given the expected continued growth in this sector in response to the projected buoyancy of the US economy. Notwithstandingthe positive recent performanceand outlook, significant development issues face the economy: (i) external vulnerabilityderiving from dependenceon tourism earnings will require continued vigilance by the authorities; (ii) the competitivenessof the economy, and of the tourism sector in particular,will need to be ensured through moderation in wage settlements,and the encouragementof efficiency improvements; (iii) greater attention will need to be paid to the regional distributionof growth, and to the encouragementof growth outside New Providence; (iv) given the expected growth in labor supply, appropriatejob creation policies will be necessary,;and (v) the operating efficiency of the public sector will require continued upgrading. CURRENCYEQUIVALENTS Currency Unit = Bahamian Dollar Since February 1973 B$1.00 = US$1.00 Between December 1971 - February 1973 US$1.00 = B$0.97 Prior to December 1971 B$1.00 = US$1.00 Pago I of 2 pages COUNTRYDATA - THE COIUONW-ALTHOF THE BANANAS AREA POPULATION DENSITY 13.942 km2 0.222 million (end 1983) 16.0 par km2 2 Annual Rato of Growth, 2.35 (frcm 1973 to 1983) 330 per km of orable land POPULATIONCHARACTERISTICS (1983) HEALTH 1978 Crude Birth Rote (per 1,000) 23.8 Population per physician 1459 Crude De th Rate (por 1,000) 5.0 Population por hospital bsd 245 Infant Mortality (per 1.000 live births) 22.7 INCOMEDISTRIBUTION (1977) ACCESSTO ELECTRICITY (1978) S of national Inconmo higheat qulntile 48.4 S of populatlon - urban 90.0 lowest qulntilo 2.5 - rural ACCESSTO PIPED WATER(1976) EDUCATION(1978) Z of population - urban 100.0 Adult literacyrate Z 93.0 - rural 13.0 Prlmry school enrol Imt I 98.5 NUTRITION (1977) Calorie Intake as Z of raqulreants 96.0 Per capita protein Intake 38.3 GNP PER CAPITA In 1984t US$4 26 0a/ GROSSNATIONAL PRODUCTIN 1984 ANNUALRATE OF GROWITHQ, constant prices) US$ Min. _ 1979-83 1984 GNP at Narket Prices 1537.9 100.0 3.0 6.4 Grosa Domatic Invnctmnt 355.5 23.1 18.7 -2.4 Gross Natlonal Savings 239.6 15.6 9.3 2.0 Current Account Baiance 23.6 1.5 Exports of Goods, NFS 1264.3 82.2 4.7 9.8 Importa of Goods. NFS 1072.3 69.7 6.7 6.8 GOWEJif FINANCE ConsolIdated Public Secter Central Oovsrmnnt (e muillion) I of 0P (s millilon) Sofet0 1963 1964 1963 1984 1983 1984 1983 1964 Current Receipts .. .. .. .. 314.0 347.3 20.2 20.4 Curront Expenditure .. .. .. 318A6 342.1 20.5 20.1 Current Surpluc 23.8 69.1 1.5 4.1 -4.6 5.2 -0.3 0.3 Capitol Expenditure* 95.7 49.2 6.2 2.9 19.2 10.4 1.2 0.6 External Finance (net) 6.2 -27.5 0.4 -1.6 . * I/ Atlas Methodelogy not awllabli not appilcable Pap 2 of 2 pape OMIOlITDATA - DOE 011MM.TH OF THEaC Wl MIOff aIT and PRICES IXe lIS IS2 13 1964 Liabilitles to Private Sectr b/ 356.0 3M5 416.9 5XO 553.7 SfA Credit to Public Sector 7 75.0 5.4 2.5 147.4 117.4 kIak Credlt to Private Sectoro 6/ 366.7 443.4 462.4 509.7 534.9 Ipereatg or inex Mars) LiabilIties to Privte Sectr as S ofW 32.5 34.e 33.S 328 31.4 Retail Prica ladX (1971 * lCD) 191.3 212.5 225.4 2344 243.8 A_ml parosainto clasp Ins Oaeral Price iuex 12.1 11.1 6.1 4.1 3.9 B6amcredit to Piulic Sectorw 17.9 45.4 14.7 -20.4 axk redit to Private Sctor . 14.7 8.5 5.7 4.9 WbLE OF PAYISITS 1511 1112 156 1954 (Millions UIW Export of com, IFS S 61.2 103t.3 1153.5 124.3 berto at oeds. IFS S S.7 .9 1005.3 1072.3 ReOrce Cap 71.5 51.4 146.2 172.0 Factor Psannts Int 136.6 114.9 122.8 153.8 _t Traneftra -13.9 -17.7 -10. -14.6 Balanc on Corrent Ao,at 41.2 -34.2 1I.1 23SA 1t OM. OECEMIIIER 31, 1964 Private Capital 104.7 -2.5 -14.7 -26.6 Publlc Debt ltel. grnt 2d.5 Phibic Capitai (not) 71.4 66.4 62 -27.5 Naa4wraated Private Debt Tebla eobtotedirg S OiXeraed C IngeIn Raeres 7.9 13.3 10.1 3M0 DBST i0 RATIOtr0r 151 C1 Pubiic Debt, Olc. gunranted 4.S M-Sar toed Private Debt Tobl outotondieg A Dlabrad. RMTEOF EXOWlE ieIALM 1INDI, latet maoth) (Miliion II, iI IDA 582.00-661 .00 lMdialoraed Outtoadiag Ila. lbdiebu dr7ed a/ Ratle of Oebt Service to Expwto ot bade and Not star Sorvioa. b Operratima at tin omercial banks. t aI fable .nt applirbb TABLE OF CONTENTS Page SUMMARY AND CONCLUSIONS ...... ............................... ..x I. ECONOMIC STRUCTURE AND RECENT ECONOMIC DEVELOPMENTS ...... I Background ................ 0................................. * I Recent Economic Developments ................... ooooo....oo. 3 II. PUBLIC FINANCES AND ADMINISTRATION ................ oo.. 11 I.ntroduction so ............................o......... ...... ooo... ... .oo 11 CentralGovernment Revenues ... ...... ............... 12 Central Government Expenditures ........... ........... 14 The Non-financial Public Corporations ................. 16 The National Insurance Board ....... .....o 19 III. SECTORAL ISSUES AND DEVELOPMENT STRATEGY ..... 21 introductionffshoreBa .. g............... .. ..... ........ 21 Tourism andsFishing. .. .. .. .............. ...... 22 Offshore Banking ........ .. *.*.. ... *..33........26 Manufacturing ........ oo.o*......................................29 Agriculture and Fishing ....ISSUES. .................. 31 cial Sectorso...j ... i.......o.............. so...... 33 Education o.o.. os. .... o...... oso...........................o........33 Health o............................o ............ .o ... o. 33 Housing .............................. oooso... oo..o..o.... ..... 34 IV. ECONOMIC PROSPECTS AND FUTURE ISSUES o.o.............o............................o 36 Baseline Projection Assumption o9oo.o.... ooo.................................. 36 Baseline Projection Results ...... ....... .......... 38 Alternative Scenarios .......... ... .... ... .. 39 Conclusions .........o..................*ooo.*ooo.o .o o.o.............41 THE BAHAMAS TABLE OF CONTENTS (Continued) Page ANNEX I: THE TOURISM SECTOR .......... ....................... ...... 42 ANNEX II: THE COMMONWEALTHOF THE BAHAMASAS AN OFFSHORE FINANCIAL CENTER ............ ............. 56 STATISTICAL APPENDIX 74 SUMMARY AND CONCLUSIONS Recent Economic Developments i. The economy of The Bahamas has performed moderately well in the early 1980s. The economy is highly dependent on the tourism sector, and its overall performance is largely determinedby the performanceof this sector, as it accounts directly and indirectly for 35% of GDP and 50% of employment. Thus, tourist arrivals have grown every year in the 1980s except 1981, when there was a 10% decline, and GDP growth has mirrored this, averaging 3% a year over the period, with a similar performance expected in 1985.
Recommended publications
  • World Bank Document

    World Bank Document

    ReportNo. 6442-CRG CaribbeanRegion CurrentSituation, Issues and Prospects Public Disclosure Authorized Otober 17,1986 LatinAmerica and the CaribbeanRegional Office FOR OFFICIAL USE ONLY Public Disclosure Authorized U Public Disclosure Authorized Public Disclosure Authorized Documentof the Ubrld Bank Thisdocument has a restricteddistribution and may be usedby recipients onlyin the performanceof theirofficial duties. Its contents may not otherwise bedisclosed without World Bank atithorization. FOR OMCIL UseONLY PREFACE This Reporthas been preparedfor the CaribbeanGroup for Cooperationand EconomicDevelopment (CGCED). Its prime objectiveis to focus attentionon the performance,problems, prospects and the needs of the Caribbeancountries. Part I, Overviewof the CaribbeanEconomies, provides a synopsis of the prcgressand the outlookof the 15 economiesin the region. While the Bank's updatingecononic reports prepared for the CGCED have essentiallya countryfocus, this sectionof the Reportaims at providinga regionalperspective on selectedeconomic policy and sectorissues, particularlyissues in the traditionalexport sectors, in employment, public finance,exchange rate policy,foreign debt, privatesector and state enterprises. Part II examinesthe externalfinancing requirements for each countryin 1986-88. Three points are noteworthy. First,on a per capita basis, these requirementsare quite substantial.Second, in nearlyall countriesthere is now a need for balanceof paymentsor budgetarysupport in additionto externalfinancing of publicsector investment.And
  • National Investment Policy Page 1 of 5

    National Investment Policy Page 1 of 5

    Bahamas National Investment Policy Page 1 of 5 Introduction to The Bahamas Starting 60 miles off the coast of South Florida and stretching as far south as Cuba, Haiti and the Dominican Republic, The Bahamas is a coral archipelago of 700 islands, 29 of which are inhabited, and over 2,000 rocks and cays. With a population of some 284,000 people, most of who live on the major islands (New Providence, Grand Bahama, Eleuthera, Abaco, Exuma, Long Island, Inagua, Cat Island, Bimini and Andros), and with an adult literacy rate of 95%, The Bahamas has a capable and adaptable work force. The Bahamas, an English speaking country which gained its independence from Britain on July 10, 1973, is one of the most politically stable countries; a parliamentary democracy has operated without interruption for 275 years. The Bahamas has comprehensive and modern infrastructure, particularly on the two major islands, New Providence and Grand Bahama, where most of the population live. Electricity and water are in abundant supply. Telecommunications services and facilities in The Bahamas are state-of -the-art, with direct international links provided through a 100% digital switching system. The economy of The Bahamas is driven by tourism and international banking and other financial services. Retail and wholesale distributive trades, manufacturing, agriculture and fisheries are the other major sectors of the economy. The Gross Domestic Product (CDP) of The Bahamas exceeds $3 billion, 60% of which comes from tourism related activities. The per capita income of the country is $11,000. The Bahamas is an independent monetary entity. The Bahamian dollar is on par with the U.S.
  • View Currency List

    View Currency List

    Currency List business.westernunion.com.au CURRENCY TT OUTGOING DRAFT OUTGOING FOREIGN CHEQUE INCOMING TT INCOMING CURRENCY TT OUTGOING DRAFT OUTGOING FOREIGN CHEQUE INCOMING TT INCOMING CURRENCY TT OUTGOING DRAFT OUTGOING FOREIGN CHEQUE INCOMING TT INCOMING Africa Asia continued Middle East Algerian Dinar – DZD Laos Kip – LAK Bahrain Dinar – BHD Angola Kwanza – AOA Macau Pataca – MOP Israeli Shekel – ILS Botswana Pula – BWP Malaysian Ringgit – MYR Jordanian Dinar – JOD Burundi Franc – BIF Maldives Rufiyaa – MVR Kuwaiti Dinar – KWD Cape Verde Escudo – CVE Nepal Rupee – NPR Lebanese Pound – LBP Central African States – XOF Pakistan Rupee – PKR Omani Rial – OMR Central African States – XAF Philippine Peso – PHP Qatari Rial – QAR Comoros Franc – KMF Singapore Dollar – SGD Saudi Arabian Riyal – SAR Djibouti Franc – DJF Sri Lanka Rupee – LKR Turkish Lira – TRY Egyptian Pound – EGP Taiwanese Dollar – TWD UAE Dirham – AED Eritrea Nakfa – ERN Thai Baht – THB Yemeni Rial – YER Ethiopia Birr – ETB Uzbekistan Sum – UZS North America Gambian Dalasi – GMD Vietnamese Dong – VND Canadian Dollar – CAD Ghanian Cedi – GHS Oceania Mexican Peso – MXN Guinea Republic Franc – GNF Australian Dollar – AUD United States Dollar – USD Kenyan Shilling – KES Fiji Dollar – FJD South and Central America, The Caribbean Lesotho Malati – LSL New Zealand Dollar – NZD Argentine Peso – ARS Madagascar Ariary – MGA Papua New Guinea Kina – PGK Bahamian Dollar – BSD Malawi Kwacha – MWK Samoan Tala – WST Barbados Dollar – BBD Mauritanian Ouguiya – MRO Solomon Islands Dollar –
  • Appendix 1 Political Forms of the Caribbean Compiled by Yarimar Bonilla, Rutgers University

    Appendix 1 Political Forms of the Caribbean Compiled by Yarimar Bonilla, Rutgers University

    Appendix 1 Political Forms of the Caribbean Compiled by Yarimar Bonilla, Rutgers University Jurisdiction Political Status and Important Historical Dates Monetary Unit * = on UN list of non-self- governing territories Constituent country of the Kingdom of the Netherlands. Seceded from the Aruba Netherlands Antilles in 1986 with plans for independence, but independence was Aruban florin (AFL) postponed indefinitely in 1994. Constituent country of the Kingdom of the Netherlands. Former seat of the Antillean guilder N Curacao Netherlands Antilles central government. Became an autonomous country within (ANG) E the kingdom of the Netherlands in 2010. T Constituent Country within the Kingdom of the Netherlands. Part of the Windward H Sint Maarten Islands territory within the Netherland Antilles until 1983. Became an autonomous ANG E country within the Kingdom of the Netherlands in 2010. R L Special municipality of the Kingdom of the Netherlands. Formerly part of the A Bonaire Netherlands Antilles. Became a special municipality within the Kingdom of the US dollar (USD) N Netherlands in 2010. D Special municipality of the Kingdom of the Netherlands. Part of the Windward S Saba Islands territory within the Netherland Antilles until 1983. Became a special USD municipality within the Kingdom of the Netherlands in 2010. Special municipality of the Kingdom of the Netherlands. Part of the Windward Sint Eustatius Islands territory within the Netherland Antilles until 1983. Became a special USD municipality within the Kingdom of the Netherlands in 2010 Overseas territory of the United Kingdom. Formerly part of the British Leeward Island colonial federation as the colony of Saint Cristopher-Nevis-Anguilla.
  • The American Loyalists in the Bahama Islands: Who They Were

    The American Loyalists in the Bahama Islands: Who They Were

    Florida Historical Quarterly Volume 40 Number 3 Florida Historical Quarterly, Vol 40, Article 3 Issue 3 1961 The American Loyalists in the Bahama Islands: Who They Were Thelma Peters Part of the American Studies Commons, and the United States History Commons Find similar works at: https://stars.library.ucf.edu/fhq University of Central Florida Libraries http://library.ucf.edu This Article is brought to you for free and open access by STARS. It has been accepted for inclusion in Florida Historical Quarterly by an authorized editor of STARS. For more information, please contact [email protected]. Recommended Citation Peters, Thelma (1961) "The American Loyalists in the Bahama Islands: Who They Were," Florida Historical Quarterly: Vol. 40 : No. 3 , Article 3. Available at: https://stars.library.ucf.edu/fhq/vol40/iss3/3 Peters: The American Loyalists in the Bahama Islands: Who They Were THE AMERICAN LOYALISTS IN THE BAHAMA ISLANDS: WHO THEY WERE by THELMA PETERS HE AMERICAN LOYALISTS who moved to the Bahama Islands T at the close of the American Revolution were from many places and many walks of life so that classification of them is not easy. Still, some patterns do emerge and suggest a prototype with the following characteristics: a man, either first or second gen- eration from Scotland or England, Presbyterian or Anglican, well- educated, and “bred to accounting.” He was living in the South at the time of the American Revolution, either as a merchant, the employee of a merchant, or as a slave-owning planter. When the war came he served in one of the volunteer provincial armies of the British, usually as an officer.
  • The Bahamas Voluntary National Review on the Sustainable Development Goals to the High Level Political Forum of the United Nations Economic and Social Council

    The Bahamas Voluntary National Review on the Sustainable Development Goals to the High Level Political Forum of the United Nations Economic and Social Council

    The Bahamas Voluntary National Review on the Sustainable Development Goals to the High Level Political Forum of the United Nations Economic and Social Council Government of The Bahamas July 2018 Picture 1: Artwork by students of the Salina Point and the Centreville Primary Schools on the topic – My Vision for The Bahamas in 2040 1 1.0 Table of Contents 1.0 Opening Statement ............................................................................................................... 6 2.0 Highlights ............................................................................................................................. 8 Integration of the SDGs into the National Development Plan .................................................... 8 Institutional Arrangements .......................................................................................................... 9 Leaving No-One -Behind ............................................................................................................ 9 Areas where support is needed for finance, capacity-building, technology, partnerships, etc. 10 3.0 Introduction ........................................................................................................................ 11 4.0 Methodology and process for preparation of the review. .................................................. 13 5.0 Policy and Enabling Environment ..................................................................................... 14 Creating Ownership of the Sustainable Development Goals: National Level
  • Standard Settlement Instructions for Foreign Exchange, Money Market and Commercial Payments

    Standard Settlement Instructions for Foreign Exchange, Money Market and Commercial Payments

    Standard Settlement Instructions For Foreign Exchange, Money Market and Commercial Payments CURRENCY CORRESPONDENT BANK S.W.I.F.T ADDRESS Australian Dollar Westpac Banking Corporation WPACAU2S AUD Sydney, Australia Barbados Dollar The Bank of Nova Scotia, Bridgetown NOCSBBBB BBD Barbados Bermudian Dollar The Bank of N. T. Butterfield & Son Ltd. BNTBBMHM BMD Hamilton, Bermuda Bahamian Dollar Scotiabank (Bahamas) Ltd. NOSCBSNS BSD Nassau, Bahamas Belize Dollar Scotiabank (Belize) Ltd., NOSCBZBS BZD Belize City, Belize Canadian Dollar The Bank of Nova Scotia NOSCCATT CAD International Banking Division, Toronto Cyprus Pound Bank of Cyprus Public Company Ltd., BCYPCY2N010 CYP Nicosia, Cyrpus Czech Koruna Ceskolovenska Obchodni Banka A.S. CEKOCZPP CZK Prague Danish Krone Nordea Bank Danmark A/S NDEADKKK DKK Copenhagen, Denmark Euro Deutsche Bank AG DEUTDEFF EUR Frankfurt Fiji Dollar Wetspac Banking Corporation WPACFJFX FJD Suva, Fiji Guyana Dollar The Bank of Nova Scotia, Georgetown, NOSCGYGE GYD Guyana Hong Kong Dollar The Bank of Nova Scotia NOSCHKHH HKD Hong Kong Hungarian Forint MKB Bank ZRT MKKB HU HB HUF Indian Rupee The Bank of Nova Scotia NOSCINBB INR Mumbai Indonesian Rupiah Standard Chartered Bank SCBLIDJX IDR Jakarta, Indonesia Israeli Sheqel Bank Hapaolim BM POALILIT ILS Tel Aviv Jamaican Dollar The Bank of Nova Scotia Jamaica Ltd. NOSCBSNSKIN JMD Kingston, Jamaica Japanese Yen The Bank of Tokyo-Mitsubishi UFJ, Ltd. BOTKJPJT JPY Tokyo Cayman Islands Dollar Scotiabank and Trust (Cayman) Ltd. NOSCKYKX KYD Cayman Islands Malaysian
  • Countries Codes and Currencies 2020.Xlsx

    Countries Codes and Currencies 2020.Xlsx

    World Bank Country Code Country Name WHO Region Currency Name Currency Code Income Group (2018) AFG Afghanistan EMR Low Afghanistan Afghani AFN ALB Albania EUR Upper‐middle Albanian Lek ALL DZA Algeria AFR Upper‐middle Algerian Dinar DZD AND Andorra EUR High Euro EUR AGO Angola AFR Lower‐middle Angolan Kwanza AON ATG Antigua and Barbuda AMR High Eastern Caribbean Dollar XCD ARG Argentina AMR Upper‐middle Argentine Peso ARS ARM Armenia EUR Upper‐middle Dram AMD AUS Australia WPR High Australian Dollar AUD AUT Austria EUR High Euro EUR AZE Azerbaijan EUR Upper‐middle Manat AZN BHS Bahamas AMR High Bahamian Dollar BSD BHR Bahrain EMR High Baharaini Dinar BHD BGD Bangladesh SEAR Lower‐middle Taka BDT BRB Barbados AMR High Barbados Dollar BBD BLR Belarus EUR Upper‐middle Belarusian Ruble BYN BEL Belgium EUR High Euro EUR BLZ Belize AMR Upper‐middle Belize Dollar BZD BEN Benin AFR Low CFA Franc XOF BTN Bhutan SEAR Lower‐middle Ngultrum BTN BOL Bolivia Plurinational States of AMR Lower‐middle Boliviano BOB BIH Bosnia and Herzegovina EUR Upper‐middle Convertible Mark BAM BWA Botswana AFR Upper‐middle Botswana Pula BWP BRA Brazil AMR Upper‐middle Brazilian Real BRL BRN Brunei Darussalam WPR High Brunei Dollar BND BGR Bulgaria EUR Upper‐middle Bulgarian Lev BGL BFA Burkina Faso AFR Low CFA Franc XOF BDI Burundi AFR Low Burundi Franc BIF CPV Cabo Verde Republic of AFR Lower‐middle Cape Verde Escudo CVE KHM Cambodia WPR Lower‐middle Riel KHR CMR Cameroon AFR Lower‐middle CFA Franc XAF CAN Canada AMR High Canadian Dollar CAD CAF Central African Republic
  • The Commonwealth of the Bahamas National Investment Policy

    The Commonwealth of the Bahamas National Investment Policy

    The Commonwealth Of The Bahamas National Investment Policy Table of Contents MONACO UNITED STATES OF AMERICA Honorary Consul of The Bahamas An invitation by the Prime Minister . 3 L’estoril 1/A4 CHICAGO 31 Avenue Princess Grace Bahamas Tourist Office Introduction to The Bahamas . 4 MC 98000, Monaco Principality 8770 W. Bryn Mawr, Suite 1300 Tel.: 377-9330-5150 – Fax: 377-9330-5177 Chicago, IL 60631 Economic Policy . 5 Tel.: (773) 867-8377 - Fax: (773) 867-2910 SWITZERLAND The Investment Environment . 5 Honorary Consul of The Bahamas FLORIDA Schutzengasse 1, Postfach 6075 Bahamas Tourism Office International Financial Centre . 5 CH-8029, Zurich, Switzerland 1200 South Pine Island Road, Suite 770 Investment Incentives . 5 Tel.: 41-226-40-42 – Fax: 41-1-226-40-43 Plantation, FL 33324 Tel.: (954) 236-9292 - Fax: (954) 474-1773 BAHAMAS TOURIST OFFICES Preferential Trade Incentives . 6 CANADA LOS ANGELES Administration of Investment Policy . 6 Bahamas Tourism Office Bahamas Tourism Office 11400 West Olympic Blvd. #200 Establishing a Business in The Bahamas . 6 6725 Airport Road, Suite 202 Los Angeles, CA 90064 Mississauga, Ontario L4V 1V2, Canada Tel.: (310) 312-9544/ (800) 439-6993 Project Proposal Guideline . 6 Tel.: (905) 672-9017 - Fax: (905) 672-2092 Fax: (310) 312-9545 ENGLAND NEW YORK General . 7 Bahamas Tourism Office Bahamas Tourist Office 1. Work Permits Bahamas House 60 East 42nd Street, Suite 1850 New York, NY 10165 10 Chesterfield Street 2. International Owners of Second Homes London, W1J 5JL Tel.: (212) 758-2777 / (800) 823-3136 Fax: (212) 753-6531 Tel.: +44-20-7355-0800 3.
  • CENTRAL BANKING in the BAHAMAS by CARLENEY. FRANCIS::~ •

    CENTRAL BANKING in the BAHAMAS by CARLENEY. FRANCIS::~ •

    CENTRAL BANKING IN THE BAHAMAS By CARLENEY. FRANCIS::~ •-. ,.,.J.::,- I " ' The Bahamian economy is predomiIiantly service-oriented. Next to tourism, banking and finance is the most important indllstry accounting for some 15% of the Gross Domestic Product which is defined as the total value of goods and services produced in an economy. A mature and strong financial infrastructure is. a sine qua non for economic growth and development and in this regard The Bahamas i3 a step ahead of many developing countries insofar as our dynamic banking and financial sector provides a source of financing to the public sector which is the major agent for advancing economic growth and development. The Central Bank, as the premier financial institution~ is entrusted with the responsibility of formulating and conducting monetaiy policy on behalf of the Government by exercising discretionary control over the monetary and financial system. Monetary policy plays a very important role in the process of economic growth and development and the Central Bank is empowered with various tools of monetary and credit control which can be applied singly or in combination to achieve various policy objectives such as a stable rate of economic growth; a high level of employment; stability in the purchasing power of the local currency and a viable balance of payments position. This article will essentially be concerned with the operations of the Central Bank as it relates to the domestic banking system. However, it will also examine the Bank's relationship with the offshore banks as this is a unique feature of central banking in TheBahamas.
  • International Currency Codes

    International Currency Codes

    Country Capital Currency Name Code Afghanistan Kabul Afghanistan Afghani AFN Albania Tirana Albanian Lek ALL Algeria Algiers Algerian Dinar DZD American Samoa Pago Pago US Dollar USD Andorra Andorra Euro EUR Angola Luanda Angolan Kwanza AOA Anguilla The Valley East Caribbean Dollar XCD Antarctica None East Caribbean Dollar XCD Antigua and Barbuda St. Johns East Caribbean Dollar XCD Argentina Buenos Aires Argentine Peso ARS Armenia Yerevan Armenian Dram AMD Aruba Oranjestad Aruban Guilder AWG Australia Canberra Australian Dollar AUD Austria Vienna Euro EUR Azerbaijan Baku Azerbaijan New Manat AZN Bahamas Nassau Bahamian Dollar BSD Bahrain Al-Manamah Bahraini Dinar BHD Bangladesh Dhaka Bangladeshi Taka BDT Barbados Bridgetown Barbados Dollar BBD Belarus Minsk Belarussian Ruble BYR Belgium Brussels Euro EUR Belize Belmopan Belize Dollar BZD Benin Porto-Novo CFA Franc BCEAO XOF Bermuda Hamilton Bermudian Dollar BMD Bhutan Thimphu Bhutan Ngultrum BTN Bolivia La Paz Boliviano BOB Bosnia-Herzegovina Sarajevo Marka BAM Botswana Gaborone Botswana Pula BWP Bouvet Island None Norwegian Krone NOK Brazil Brasilia Brazilian Real BRL British Indian Ocean Territory None US Dollar USD Bandar Seri Brunei Darussalam Begawan Brunei Dollar BND Bulgaria Sofia Bulgarian Lev BGN Burkina Faso Ouagadougou CFA Franc BCEAO XOF Burundi Bujumbura Burundi Franc BIF Cambodia Phnom Penh Kampuchean Riel KHR Cameroon Yaounde CFA Franc BEAC XAF Canada Ottawa Canadian Dollar CAD Cape Verde Praia Cape Verde Escudo CVE Cayman Islands Georgetown Cayman Islands Dollar KYD _____________________________________________________________________________________________
  • Currency List

    Currency List

    Americas & Caribbean | Tradeable Currency Breakdown Currency Currency Name New currency/ Buy Spot Sell Spot Deliverable Non-Deliverable Special requirements/ Symbol Capability Forward Forward Restrictions ANG Netherland Antillean Guilder ARS Argentine Peso BBD Barbados Dollar BMD Bermudian Dollar BOB Bolivian Boliviano BRL Brazilian Real BSD Bahamian Dollar CAD Canadian Dollar CLP Chilean Peso CRC Costa Rica Colon DOP Dominican Peso GTQ Guatemalan Quetzal GYD Guyana Dollar HNL Honduran Lempira J MD J amaican Dollar KYD Cayman Islands MXN Mexican Peso NIO Nicaraguan Cordoba PEN Peruvian New Sol PYG Paraguay Guarani SRD Surinamese Dollar TTD Trinidad/Tobago Dollar USD US Dollar UYU Uruguay Peso XCD East Caribbean Dollar 130 Old Street, EC1V 9BD, London | t. +44 (0) 203 475 5301 | [email protected] sugarcanecapital.com Europe | Tradeable Currency Breakdown Currency Currency Name New currency/ Buy Spot Sell Spot Deliverable Non-Deliverable Special requirements/ Symbol Capability Forward Forward Restrictions ALL Albanian Lek BGN Bulgarian Lev CHF Swiss Franc CZK Czech Koruna DKK Danish Krone EUR Euro GBP Sterling Pound HRK Croatian Kuna HUF Hungarian Forint MDL Moldovan Leu NOK Norwegian Krone PLN Polish Zloty RON Romanian Leu RSD Serbian Dinar SEK Swedish Krona TRY Turkish Lira UAH Ukrainian Hryvnia 130 Old Street, EC1V 9BD, London | t. +44 (0) 203 475 5301 | [email protected] sugarcanecapital.com Middle East | Tradeable Currency Breakdown Currency Currency Name New currency/ Buy Spot Sell Spot Deliverabl Non-Deliverabl Special Symbol Capability e Forward e Forward requirements/ Restrictions AED Utd. Arab Emir. Dirham BHD Bahraini Dinar ILS Israeli New Shekel J OD J ordanian Dinar KWD Kuwaiti Dinar OMR Omani Rial QAR Qatar Rial SAR Saudi Riyal 130 Old Street, EC1V 9BD, London | t.