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Thursday, March 30 2017 @ 12:48 AM AST

Reserves up, Non-performing loans (NPLs) down in The Bahamas

The Bahamas Central Bank Governor John Rolle said at an event on Paradise Island on January 31:

* "At the end of 2016 the non-performing loan (NPL) rate had therefore fallen to 12.3% of private sector loans, compared to 15.1% at the end of 2015 and a peak of above 16% in mid - 2014": Rolle

* "At the end of 2016, the reserves stood at $902 million (B$1=US$1), equivalent to about 3 months of imports and to about 70% of the currency or potential currency liabilities of the Central Bank. This stock is literally the residual of the more than $5 billion in foreign exchange that flow though the domestic Banking system each year, with roughly the same amounts flowing out to pay for imports or investments made abroad": Rolle
**NOTE: Reserves fell 3.9% from US$938.7 million in November 2016.

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