IDB: Government halted research permits as it moved to plug loophole

NASSAU, BAHAMAS — The Bahamas issued no research permits in 2019 and 2020 as the government moved to plug a loophole that has enabled foreign exploitation of this nation’s biological and genetic resources without compensation, the Inter-American Development Bank (IDB) has noted. The Inter-American Development Bank (IDB), in a paper accompanying its latest $140m loan […]

NUMBERS MATTER: One stopover visitor spends as much as 28 cruise visitors, cites IDB report

“Homeporting of cruise lines could help significantly in increasing the amount that cruise visitors spend in the country” NASSAU, BAHAMAS — Homeporting of cruise lines in The Bahamas could significantly increase cruise passenger spend, according to an Inter-American Development Bank (IDB) report that noted it takes 28 cruise visitors to equal the spend of one […]

Bahamas was near top of tax-to-GDP ratio increase in LAC region pre-COVID, IDB study finds

“The COVID-19 pandemic caused a sharp decline in tax and resource revenues in 2020” NASSAU, BAHAMAS — The Bahamas saw the second largest increase in tax-to-GDP ratios between the two years preceding the onset of the COVID-19 pandemic, according to a recently released Inter-American Development Bank (IDB) analysis. According to the Revenue Statistics in Latin […]

Bahamas has highest on-time VAT filing rates in the region, IDB study reveals

NASSAU, BAHAMAS — The Bahamas has the highest on-time filing rates for value-added tax (VAT) in the region, a new Inter-American Development Bank (IDB) study laying out key fiscal and financial reforms has revealed. In the book entitled “Economic Institutions for a Resilient Caribbean”, it was noted that in order to build resilience against external […]

Fiscal Responsibility Act could benefit from improvements, IDB senior consultant suggests

NASSAU, BAHAMAS — While the Fiscal Responsibility Act (FRA) represents a “major step” towards strengthening this nation’s fiscal framework, it could benefit from some improvements, an Inter-American Development Bank (IDB) study has found. Commenting on the country’s FRA in a book entitled “Economic Institutions for a Resilient Caribbean”, Teresa Ter-Minassian, a senior IDB consultant, noted: […]

IDB approves $20 million Bahamas loan to acquire COVID-19 vaccine and aid in distribution

NASSAU, BAHAMAS — The Inter-American Development Bank (IDB) has approved a US $20 million loan to the government of The Bahamas to acquire the COVID-19 vaccine and help develop the infrastructure around its distribution, its president said yesterday. The project is intended to strengthen response leadership at the country level, improve case detection and monitoring, […]

IDB: Rising US COVID-19 cases a concern for tourism-dependent countries

NASSAU, BAHAMAS — The persistently high daily COVID-19 case rate in the United States — a key tourism source market for countries like The Bahamas — remains a concern, the Inter-American Development Bank (IDB) has noted, adding that data suggests that future travel to such tourism-dependent countries through 2021 could remain 40 to 75 percent […]

IDB President says Jamaica on track to become Caribbean’s first digital society

KINGSTON, Jamaica: The head of the Inter-American Development Bank Group (IDB) believes Jamaica will become the region’s first digital society. Luis Alberto Moreno expressed that view as the Jamaica Government took strategic steps to strengthen the foundation for the creation of a digital society, with the signing of a package of loan operations from the IDB. […]

DPM Turnquest, as IDB Governor, talks technology and climate change resilience at IDB enclave

KINGSTON, Jamaica — The Deputy Prime Minister & Minister of Finance, K. Peter Turnquest, in his capacity as one of the Governors of the Inter-American Development Bank (IDB), attending the second day of the 7th Annual Consultation Meetings with Caribbean Governors of the Bank, participated in a panel discussion led by Sir Richard Branson and […]

DPM Turnquest attends IDB Governors’ Annual Consultation in Kingston

Deputy Prime Minister, Minister of Finance and IDB Governor, the Hon. K. Peter Turnquest, led a Bahamas delegation to the Inter-American Development Bank’s (IDB) 7th Annual Consultation of the Governors of the Caribbean Country Department, February 26-27, 2018 in Kingston, Jamaica. Turnquest anticipated discussions yesterday day with President of the IDB, Luis Alberto Moreno, in […]