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Rolle to replace Craigg as Central Bank chief

Wendy Craigg has stepped down as Governor of The Central Bank of The Bahamas to be replaced by former financial secretary John Rolle (pictured). Read a statement by Prime Minister Perry Christie on the announcement here. 

Tuesday, January 5, 2016
Tuesday, January 5, 2016

Here follows a statement released yesterday by Prime Minister and Minister of Finance Perry Christie on the retirement of Wendy Craigg as Governor of The Central Bank of The Bahamas and the appointment of former financial secretary John Rolle as the new Governor:

PMMrs. Wendy Craigg, having completed her statutory term as the Governor of the Central Bank of the Bahamas, demitted office on December 31st 2015. Of special historical significance, Mrs. Craigg was the first female to hold this vitally important post in our national financial system. Moreover, she served with utmost distinction throughout her 10 year tenure as Governor and indeed in her prior post as Deputy Central Bank Governor as well.

It is particularly laudable that Mrs. Craigg, a career central banker, worked tirelessly to ensure that the regulatory infrastructure for banks and trust companies in The Bahamas conformed to evolving international standards and best practices. At the same time she also saw to it that the monetary stability of The Bahamas was maintained by the application of sound and sensible monetary policies and standards.

I applaud Mrs. Craigg for these outstanding achievements and thank her for her many years of dedicated service and unblemished integrity at the helm of the Central Bank. She has been a great credit not only to the Central Bank but to our entire nation.

I am pleased that Mrs. Craigg will continue to be of service to our nation as an Economic Policy Advisor in the Office of the Prime Minister.

I would also like to congratulate the new incoming Governor of the Central Bank, Mr. John Rolle, who formerly held the post of Financial Secretary and as such was the administrative leader of the Ministry of Finance. Indeed Mr. Rolle played a pivotal role in the implementation of recent public finance reforms, most notably, the introduction of the Value Added Tax (VAT) regime. For that and for his many other sterling contributions to nation-building while at the Ministry of Finance, I thank Mr. Rolle most sincerely.

In a very real sense, however, Mr. Rolle, in assuming his new role as the Governor of the Central Bank with immediate effect, is returning home. He, too, is a career central banker, and as such is ideally suited to his new appointment. I wish him well and predict that he will bring to this high office the same integrity, discipline, intellectual ability and expert grasp of monetary policy that distinguished his predecessor, Mrs. Wendy Craigg.

What’s the best country in the Caribbean region in which to live? Right now, it’s The Bahamas, according to the 2015 edition of the United Nations Human Development report.

The Palm Cay marina and luxury residential resort on New Providence was named as an official port of entry to The Bahamas December 18. It welcomed its first international vessel shortly after.

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