Economic Trends

The Central Bank of the Bahamas has released an update on recent economic developments and prospects, noting that the Bahamian economy expanded during the first half of 2004 with the momentum expected to continue through 2005.

The combination of strong net foreign currency inflows and continued restraint on domestic credit expansion reportedly resulted in a robust seasonal buildup in bank liquidity and external reserves during the first half of the year. As at June 2004, external reserves stood at $651.3 million.

Last month the Bank published its quarterly economic overview, featuring:

• Review of Economic & Financial Developments

• Statistical Appendex

• Gross Economic Contribution of the Financial Sector in The Bahamas