The Bahamas:2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas

2020 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for The Bahamas

Volume/Issue: Volume 2021 Issue 024

Publication date: January 2021

ISBN: 9781513567839

$18.00

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Topics covered in this book

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Business and Economics , Nature , Business and Economics - Statistics , Natural Disasters , Health and Fitness , Banks and Banking , Public Finance , ISCR , CR , central bank of The Bahamas , IMF staff calculation , asset registry , COVAX Facility , loan moratoria

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Summary

The economic impact of COVID-19 on The Bahamas is unprecedented. The archipelago was just recovering from the devastation of Hurricane Dorian in the fall of 2019, when the pandemic led to a sudden stop in tourism, the main source of income and employment. The authorities mounted a rapid emergency response to support the economy and vulnerable households and put in place strict containment measures. But amid limited testing and health resources, reopening the economy has been challenging.