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Over the span of a year, consumer loan arrears dropped 4.5 percent, while mortgage arrears dropped 1.5 percent last month, according to recent data provided by The Central Bank of The Bahamas (CBOB). The Monthly Economic and Financial Developments report for November indicated improved credit quality indicators within the commercial banking system, as non-performing loans
The Central Bank of The Bahamas (CBOB) yesterday said it made arrangements with the Ministry of Finance for the government to have direct access to the $174.8 million in special drawing rights (SDRs) allocated to The Bahamas by the International Monetary Fund (IMF) in 2021. In August 2021, the IMF made a $650 billion general
Air arrivals for The Bahamas in September saw a 125.8 percent increase over the record year of 2019, according to The Central Bank of The Bahamas’ latest Monthly Economic and Financial Developments (MEFD) report for October. The report noted that in the months of 2022 into September, total visitor arrivals were at 4,758,124, compared to 954,859 during the same
Commercial banks saw an improvement in long-term arrears in the month of October, with a 1.2 percent decrease noted in the Central Bank’s Monthly Economic and Financial Developments (MEFD) report for October. According to the report, the arrears were reduced by $7.4 million. It added that during October, banks wrote off about $14.2 million in bad
The Bahamas Hotel and Tourism Association (BHTA) and other tourism stakeholders met yesterday with executives from Bahamas Power and Light (BPL) to discuss their concerns. The meeting comes as the newly implemented fuel charge increases, which will be reflected in this month’s bills. Hotels and other large electricity consumers will be expected to pay four