IMF Executive Board Approves a US$ 250 Million Disbursement to The Bahamas to Address the COVID-19 Pandemic

• The IMF Executive Board approved The Bahamas’s request for emergency financial assistance of about US$250 million to help meet the urgent balance-of-payments needs stemming from the COVID-19 pandemic.
• The COVID-19 pandemic comes on the heels of the widespread destruction caused by Hurricane Dorian in September 2019. Coupled with domestic containment measures, the collapse in tourism will cause a deep recession.
• The Bahamian authorities have taken timely and targeted measures to boost health spending and mitigate the socio-economic impact of the pandemic, supporting jobs and vulnerable segments of the population.

(Source: IMF)