Wednesday, March 18, 2020

Governor: $2bn Reserves Enough To Overcome Virus

Governor of Central Bank, John Rolle

Tribune Business Editor

The Central Bank's governor yesterday reassured that $2bn in external reserves are enough to meet The Bahamas' foreign currency needs despite the "major reduction" projected due to the virus.

John Rolle, in e-mailed replies to Tribune Business questions, said the Central Bank's foreign currency reserves will be sufficient to meet import demand and other external obligations until the tourism industry and other exchange earners recover from the COVID-19 pandemic.

He added that traditional pressures on the reserves, such as the imports consumed by tourists and foreign travel by Bahamians, will not be present as long as the outbreak continues.  Read more >>