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Mr. Eric Verreydt

The Central Bank of The Bahamas (CBB) has long relied on direct credit controls and restrictions on capital flows to manage liquidity, as the depth of the domestic credit market was seen as insufficient to support open market operations. But more recently, it has become concerned about the microeconomic distortions resulting from its direct controls and is reconsidering its monetary framework. For this reason, the IMF recently discussed with the CBB a strategy to set the stage for a successful transition toward market-based instruments of liquidity management

International Monetary Fund. Monetary and Capital Markets Department
The Bank Supervision Department (BSD) of the Central Bank of the Bahamas (CBoB) has a generally effective supervisory program in place for the size and complexity of the Bahamian banking system. Since the prior FSAP in 2012, clear progress has been made enhancing the framework in a number of areas as well as in the execution of its supervision program. CBoB supervision continues to evolve in a number of positive directions, with most of the areas viewed by assessors as warranting enhancements included in the execution of the program.
International Monetary Fund. Monetary and Capital Markets Department

Introduction 1 1. The Bank Supervision Department (BSD) of the Central Bank of the Bahamas (CBoB) has a generally effective supervisory program in place for the size and complexity of the Bahamian banking system . Since the prior FSAP in 2012, clear progress has been made enhancing the framework in a number of areas as well as in the execution of its supervision program. CBoB supervision continues to evolve in a number of positive directions, with most of the areas viewed by assessors as warranting enhancements included in the execution of the program. 2

International Monetary Fund. Western Hemisphere Dept.

Central Bank of The Bahamas (CBoB) anticipates that deflationary pressures will subside by the end of 2020, with the inflation rate returning to approximately 2.5 percent in 2021. Labor market conditions remain constrained owing to repeated shocks to the tourism industry. The unemployment rate is expected to rise by more than two-fold, to 25.6 percent in 2020. The surge in unemployment is seen as temporary and a gradual improvement is expected as tourism comes back on stream. In the meantime, measures implemented by the government to provide support to small and

International Monetary Fund

III. T he B ahamas ’ M onetary F ramework : O bjectives , I nstruments , a nd O ptions for R eform 1 A. Introduction 1. The Central Bank of The Bahamas is studying the possibility of a reform of monetary policy instruments . The central bank (CBB) has long relied on direct credit controls and restrictions on capital flows to manage liquidity, but has become concerned about the microeconomic efficiency of these instruments and is reconsidering its monetary framework. Fund staff has advocated since the early 1990s the adoption of more market