Pope Francis received Perry Christie, Prime Minister of The Bahamas, in private audience yesterday. During their exchange, they focussed on the theme of migration and on the contribution offered by the Catholic Church to the population, in particular in the areas of aid and education.
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The chairmen of Baha Mar Ltd and Meliá Hotels International today signed an agreement for Meliá to operate the all-inclusive Meliá at Baha Mar, in the luxury leisure development Baha Mar.

On December 1, 2013, Meliá will take over the operation of the Meliá Nassau Beach Resort. The resort, featuring 694 rooms and multiple spaces for meetings and conventions, will be executing a renewal plan that will be completed by December 2014, without any interruption to the guest experience.

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The Bahamas should see a boost in economic growth beginning in 2014, according to the International Monetary Fund.

The fund said that a reduction in tourist arrivals and in the completion of major public infrastructure projects was being offset by an increase in foreign investment in large part due to the Baha Mar resort project in New Providence.

Starting in 2014, economic growth is expected to pick up as the US economy strengthens, tourist arrivals rebound and the Baha Mar opens, the Fund said.

Together, that will lead to an increase in GDP of 2.75 percent in 2015-2016 before moderating to around 2.5 percent afterwards, according to the fund, which recently completed a mission to the country to conduct discussions on the 2013 Article IV consultations.

This is an excerpt from Caribbean Journal as it appeared on November 19, 2013. For updates or to read the current version of this post in its entirety, please click here.

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A large, high-ranking delegation from The Bahamas attended the Commonwealth Heads of Government Meeting (CHOGM) held in Colombo, Sri Lanka, November 15-17.

During the three-day forum, Prime Minister Perry Christie had a bilateral meeting with John Key, Prime Minister of New Zealand November 15.

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November 18/13–(IMF)–An International Monetary Fund (IMF) team, headed by Mr. Mbuyamu Matungulu, visited The Bahamas during November 3–16 to conduct discussions for the 2013 Article IV consultations. The team met with (from top left, by row) Honorable Perry Christie, Prime Minister and Minister of Finance; Honorable Ryan Pinder, Minister of Financial Services; Honorable Obediah Wilchcombe, Minister of Tourism; Honorable Michael Halkitis, Minister of State for Finance; Honorable Khaalis Rolle, Minister of State for Investments; Ms. Wendy Craigg, Governor of the Central Bank of the Bahamas; senior government officials, and representatives of the opposition, private sector and civil society.

Mr. Matungulu issued the following statement at the conclusion of the mission:

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Bahamasair has cut operation costs on domestic routes and is looking to fly to more international destinations, according to Bahamasair chairman Valentine Grimes. Watch an interview with Grimes here.
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Pictured: Aliya Allen, the CEO and executive director of BFSB speaking at a recent event in Miami. (Photo©Dupuch/Tosheena Robinson-Blair)

Innovation is key to The Bahamas’ success in targetting emerging markets in Latin America, according to chief executive officer of the Bahamas Financial Services Board (BFSB) Aliya Allen, who said the financial services sector would soon launch a new investment fund product that would help it position itself as a leading hub for LatAm.

By 2016, emerging markets will account for 37 per cent of global millionaire wealth, according to the McKinsey Global Private Banking Survey 2013 (Download attached PDF).

In order to snag a share of this growth, Allen suggested that The Bahamas needs to focus on innovation, flexibility and sustainability. She said the BFSB made significant progress last year with its series of Landfall events in Latin America, particularly those in Brazil where the board has been “extremely active in the insurance space” and wanted to “exploit that connection to launch other products.”

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MIAMI, Nov. 14, 2013 /PRNewswire/ — Royal Caribbean International announced today that a mechanical issue has made it necessary to perform unscheduled repairs to Allure of the Seas. The repairs will take place at Grand Bahama Shipyard, inFreeport, Bahamas, the week of February 24, 2014. As a result, it will be necessary to cancel the February 23, 2014, sailing ofAllure of the Seas.

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Pictured: Prime Minister Perry Christie (right), with his wife Bernadette, are welcomed at Colombo airport by people in traditional Sri Lankan costumes. (BIS Photo/Peter Ramsay)

Prime Minister Perry Christie arrived in Colombo, Sri Lanka, November 14 to attend the Commonwealth Heads of Government Meeting (CHOGM).

The Prime Minister arrived at Bandaranaike International Airport to a traditional Sri Lankan welcome.

He was greeted by Rauff Hakeem, Sri Lanka’s Minister of Justice.

The Commonwealth Heads of Government Meeting (CHOGM) will be held in Colombo November 15-17.

Prime Minister Perry Christie was in London November 12, 2013, where he met with the principals of Hutchison Whampoa to discuss future investment prospects in Grand Bahama, before heading to Sri Lanka for the Commonwealth Heads of Government Meeting (CHOGM).

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