Wall Street credit rating agency has confirmed The Bahamas could see its rating lowered to “junk” bond territory this year if “important reforms” are not undertaken
Lawyer says fear of crime had cost the Bahamas a job-creating investment by a “multi-millionaire client”, as he likened doing business in this nation to “hell”.
Addressing a business forum in Detroit, Michigan, on Saturday, November 16, Paulette Zonicle, Bahamas Consul General to Washington, D.C., stressed that The Bahamas welcomes foreign direct investments.
Basel III is a comprehensive set of international standards developed by The Basel Committee on Banking Supervision to strengthen global capital and liquidity rules to promote a more resilient banking sector.
The Inter-American Development Bank (IDB) has warned that investment projects have been “vulnerable to political pressures” because the Bahamas lacks a national economic development plan.
The Bahamas is experiencing a mini-boom, with international billion-dollar developments and business investments rapidly moving forward.
State Minister for Investments Khaalis Rolle says attracting foreign direct investment is difficult to overcome during the current global economic crisis.
Government is in talks with investors on proposed development in East Grand Bahama to develop eight hotels, a casino and a cruise ship terminal.
Indications are that the domestic economy maintained its mildly positive growth pace during the review month.