IMF Projects 1.9% Growth for Bahamas

The International Monetary Fund (IMF) has projected that Bahamas could record economic growth of up to 1.9 per cent this year.

According to the IMF, this is slightly higher than last year and is an indication that the Bahamian economy continued to recover from the global economic crisis.

The assessment came after a delegation from the US-based international lending agency ended a two-week visit to The Bahamas yesterday.

Head of the delegation Mbuyamu Matungulu noted that a reduction in stopover tourist arrivals and other economic challenges are being offset by an uptick in foreign private investment, particularly in the tourism sector.

Matungulu says economic growth is expected to pick up in 2014 as the US economy strengthens and tourist arrivals rebound and adds that he expects it to reach 2.75 per cent in 2015-16.

Source: Go-Jamaica