Ministry of Finance Response to Moody’s Report of August 14, 2018


The rating agency Moody’s Investors Service in its latest rating assessment of The Bahamas maintained its Baa3 negative rating, which is unchanged from its previous report. I am pleased to report to the country that this independent assessment reflects stabilization in our sovereign credit profile following four years of successive rating downgrades. This represents a critical first step in addressing and reversing years of fiscal mismanagement. As outlined in the recent budget exercise, the Government’s combination of economic initiatives, including: the introduction of focused fiscal measures; the imminent introduction of fiscal responsibility legislation; moves to stimulate domestic economic growth through support for Bahamian entrepreneurs and small businesses; and the substantial pipeline of major investment within the country will lead to strong and sustained economic growth and a stable macroeconomic trajectory for the country. The Government of The Bahamas remains committed to executing its economic agenda to stimulate growth, contain expenditure and restore fiscal health to public finances.

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