BAHAMAS-ECONOMY-IMF welcomes “gradual recovery” of Bahamas economy

WASHINGTON, CMC - The International Monetary Fund (IMF) is welcoming the “gradual recovery” of the Bahamas economy, supported by a rebound in tourism and ongoing investment projects. However, the Washington-based financial institution said unemployment remains high and that the economy faces “downside risks from an uncertain external environment, while fiscal and external imbalances have widened”. The IMF, which has just concluded a review of the economy of the Bahamas, said the main challenge is to strengthen the fiscal and external positions, rebuild macroeconomic buffers, and implement policies to enhance medium-term growth.