The Governor of The Central Bank of The Bahamas John Rolle made remarks to the Bahamas Chamber of Commerce and Employers’ Confederation on the State of The Economy Report 2018, February 22.

The Governor addressed foreign investment and exchange controls during his speech, saying:

“Notwithstanding the present debate on the usefulness of the exchange control regime, it is important to note that the controls do ensure that adequate foreign exchange flows are always available to support the fixed parity of the Bahamian dollar against the US dollar (B$1.00 = US$1.00), for all trade payments and approved investment outflows.”

“At the inception of the peg, The Bahamas introduced an essential convenience for the tourism sector, removing the nuisance of exchange rate conversions from over-the-counter transactions, and unifying the pricing of goods and services offered to both tourists and residents. Being pegged in this fashion remains aligned with having the majority of our tourists (over 80 per cent) originate from the United States, as well as this being the principal trading partner for imports.”

Read/download his full remarks here.

•  Bahamas Chamber of Commerce and Employers’ Confederation – State of The Economy Report 2018