Financial Market Brief April 1 2016
Exchange controls, which are government implemented regulations on payments and financial transactions between the domestic and foreign markets, have been in place in the Bahamas since the colonial days, with some relaxation over the years. When the Bahamas became a member of the International Monetary Fund (IMF) Article VIII in 1992, it accepted the obligation of the article which states, “no member shall, without the approval of the Fund, impose restrictions on the making of payments and transfers for current international transactions”. So in essence, legitimate requests from Bahamian residents for foreign currency purchases to fund current account transactions are generally approved. Relaxation on capital account transactions which include loans, securities investments and direct foreign investments, however, have occurred at a slower pace. Weekly_Market_Recap_1-Apr-2016 Click here for full Weekly Market Recap

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