BAHAMAS-Government denies “running out of money’

The Ministry of Finance wishes to advise the public that reports of the Government “running
out of money” are false. Further, the Bahamian dollar is not facing devaluation threat.
Our economy has not survived and thrived for so long because of good fortune. As a country,
we have historically taken a very prudent approach to fiscal and monetary policy to protect
ourselves in situations like the emergency we face today. The Country’s foreign reserves are
managed by the capable hands of the Bahamian professionals at the Central Bank of the
Bahamas. The Central Bank has an exemplary record that should instill confidence in every
Bahamian.
Since the COVID-19 crisis, the Central Bank has taken several preemptive steps to shore up
our reserves, and they will continue to take necessary action as needed. I echo the Central
Bank’s statement today, indicating that monetary policies have already taken into
consideration vital local needs, and any reports of devaluation threats are entirely misleading
and without merit.
The Government will continue to take the necessary steps to stabilize the economy and
support the Central Bank in its mandate to preserve the integrity of the Bahamian dollar.

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