Tuesday, March 24, 2020

‘COVID-19 Could Lead to Recession’

Gowon Bowe - Finacial expert

By Jones Bahamas

Fidelity Bank and Trust Chief Financial Officer Gowon Bowe said if the covid-19 situation continues for six months, The Bahamas can expect an economic recession.

Last week, Deputy Prime Minister and Finance Minister Peter Turnquest said the country is already starting to feel the impact of covid-19 as cruise ship arrivals are on a 30-day hiatus, hotel occupancies have fallen, and hotel workers are being asked to take unpaid or vacation leave.

As a result, Bowe said Bahamians can expect a decline in the economy.  Read more >>