Standard & Poor's recently affirmed its 'A-' long-term and 'A-2' short-term sovereign credit ratings on the Bahamas.
Citing continued macroeconomic stability underpinned by sound fiscal policies and a steady monetary stance, S&P assigned a stable outlook for the country’s rating.
The ratings firm also pointed to the Bahamas’ fixed exchange-rate regime, which has been in place since 1973, and has ensured low levels of inflation, while noting that “generally prudent fiscal management” has led to moderate government debt.
However, S&P stated that the Bahamas’ ratings have been constrained by limited fiscal flexibility, which it sees as a by-product of the jurisdiction’s inefficient tax structure and infrastructure needs.
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