{"id":81523,"date":"2021-09-28T16:28:05","date_gmt":"2021-09-28T16:28:05","guid":{"rendered":"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/?p=81523"},"modified":"2021-09-28T17:09:22","modified_gmt":"2021-09-28T17:09:22","slug":"amidst-rating-downgrade-bahamas-set-to-grow-by-8-in-2021","status":"publish","type":"post","link":"https:\/\/www.bahamastradeinfo.gov.bs\/buy\/2021\/09\/28\/amidst-rating-downgrade-bahamas-set-to-grow-by-8-in-2021\/","title":{"rendered":"Amidst rating downgrade, Bahamas set to grow by 8% in 2021"},"content":{"rendered":"

Moody\u2019s maintains The Bahamas’ economic strength has eroded<\/h3>\n

The US-based rating agency Moody\u2019s downgraded the sovereign creditworthiness of The Bahamas slashed the country\u2019s long-term issuer and senior unsecured ratings to \u2018Ba3\u2019 from \u2018Ba2, a day after the general election.<\/p>\n

Moody\u2019s, in maintaining a \u201cnegative outlook\u201d on The Bahamas, justified the downgrade by saying \u201cthe downgrade to Ba3 reflects the significant erosion of The Bahamas\u2019 economic and fiscal strength\u201d occasioned by COVID-19.<\/p>\n

Moody\u2019s said its baseline expectation assumes tourist arrivals to remain close to 75% of 2019 levels for the remainder of 2021, leaving tourist arrivals at around 50% of 2019 levels.<\/p>\n

The agency also anticipates economic growth in 2021 and 2022<\/h3>\n

\u201cAssuming continued recovery in 2022, driven mainly by increased vaccinations and greater comfort with international travel, we expect The Bahamas to have another year of very high economic growth rates,\u201d it said.<\/p>\n

\u201cWe expect GDP growth of 8.0% in 2021 & 7.0% in 2022, after the 14.5% contraction in 2020. We expect stopover arrivals to return to 2019 levels by 2024, while cruise visitors will take longer to recover.\u201d<\/p>\n

Source: CARICOM Today<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Assuming continued recovery in 2022, driven mainly by increased vaccinations and greater comfort with international travel, we expect The Bahamas to have another year of very high economic growth rates.<\/p>\n","protected":false},"author":16,"featured_media":81524,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-81523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"yoast_head":"\nAmidst rating downgrade, Bahamas set to grow by 8% in 2021 - 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