Bahamas facing ‘new normal’ after COVID-19

Bahamas facing ‘new normal’ after COVID-19
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NASSAU, BAHAMAS — The COVID-19 crisis is an interruption but not the end of the Bahamian economy, according to one local financial services executive.

Khalil Braithwaite, Leno Corporate Services’ Business Development manager, said: “We see this as an interruption but not the end of the economy. There is definitely going to be a new normal after all of this. How that will be defined is still being determined.”

Braithwaite added: “Just like everyone else we are watching the market.

“We do see The Bahamas rebounding. We have to determine how we define ourselves in this new environment. We have a thriving local economy but we are nonetheless connected to the global economy. Leno is confident that The Bahamas is stronger than this. We do however recognize the seriousness of this situation and the negative effects.”

Leno is one of several lending institutions participating in the $20 million Small Business Continuity Loan Program being offered through the Small Business Development Centre (SBDC).

Braithwaite lauded the initiative yesterday.

“We think it’s a great initiative and are happy with how it is constructed,” he said.

“This is essentially a continuity plan to keep businesses alive so they can survive and thrive. There has been a great response to the program.”

Braithwaite also noted that Leno will be conducting a series of webinars to discuss issues around business continuity and risk.