{"id":14503,"date":"2011-11-01T08:43:03","date_gmt":"2011-11-01T12:43:03","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=14503"},"modified":"2011-11-01T09:23:37","modified_gmt":"2011-11-01T13:23:37","slug":"ministry-of-finance-responds-to-standard-and-poors-downgrading","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2011\/11\/ministry-of-finance-responds-to-standard-and-poors-downgrading","title":{"rendered":"Ministry Of Finance Responds To Standard And Poors Downgrading"},"content":{"rendered":"
\"S&P
From BBB+ to BBB<\/figcaption><\/figure>\n

The Ministry of\u00a0 Finance acknowledges the decision of Standard and Poors to lower The Bahamas\u2019 Credit Rating from BBB+\/A-2, to BBB\/A-3 and its transfer and currency convertibility assessment from A- to BBB+.\u00a0 During recent discussions with Standard and Poors the Credit Agency made it clear that it was changing its methodology to place greater emphasis on \u2018diversification\u2019 and growth \u2018prospects\u2019.<\/p>\n

Given The Bahamas\u2019 economic concentration on tourism and financial services for more than 50 years and given its limited growth prospects in the current challenging global economic environment, it seemed likely that a rating down grade would follow this change in methodology.<\/p>\n

This notwithstanding the Government of The Bahamas remains focused on stimulating economic growth through inward direct foreign investment, increasing support for small and medium size business development, improving the domestic environment for doing business and strengthening the productivity of The Bahamas\u2019 workforce.<\/p>\n

The Government also remains focused on strategies to reverse the current fiscal circumstances of the Country by slowing the growth rate of our debt – to – GDP Ratio and eventually reversing the same in order to return it to more sustainable levels.\u00a0 We will continue to focus on these in order to create optimum opportunities for the citizens of The Bahamas to be employed, to increase their income generating capacity and pursue their business interests.<\/p>\n

Ministry of\u00a0 Finance<\/p>\n","protected":false},"excerpt":{"rendered":"

The Ministry of Finance acknowledges the decision of Standard and Poors to lower The Bahamas\u2019 Credit Rating from BBB+\/A-2, to BBB\/A-3 and its transfer and currency convertibility assessment from A- to BBB+. <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[98,40],"class_list":["post-14503","post","type-post","status-publish","format-standard","hentry","category-business","tag-financial","tag-government"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/14503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=14503"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/14503\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=14503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=14503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=14503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}