Latin American Economy & Business - June 2016 (ISSN 1741-7430)

The report from the IMF’s latest Article IV consultation with the government of the Bahamas highlights problems on two fronts. In the tourism sector, it is not clear who will invest the US$1bn needed to make the Baha Mar mega-resort operational. In the financial sector, the erosion of correspondent banking relationships – a problem across much of the region – has resulted in an unemployment rate of about 30%, or around twice the national average.