Preliminary indications are that the domestic economy exhibited moderated, but slightly positive performance during February, according to the latest Monthly Economic and Financial Development report released by The Central Bank of The Bahamas.

Sustained growth in the sea segment contrasted with a reaction in the high value-added air component which contracted, as some capacity remained offline in hurricane-damaged areas.

However, the regulator warns that travel restrictions related to Covid-19 began to take an accelerated toll in March.

Nevertheless, ongoing foreign investment projects provided a stimulus to the construction sector, and to a lesser extent post-hurricane rebuilding works.

Monetary sector developments featured an expansion in bank liquidity, amid a build-up in total deposits and a reduction in domestic credit.

Similarly, during the review month, external reserves registered growth, on account of foreign currency inflows from re-insurance and real sector activities.

Read/download the full report here:

• MEFD February 2020 (1MB)