The Debt Management Office (the “DMO”) of the Ministry of Finance is mandated under Section 61 of the new Public Debt Management Act, 2021 (the “Act”), passed by Parliament on March 26 and effective July 1, to prepare and publish public debt statistical bulletins (“PDSB”), no later than thirty calendar days after the end of each quarter of the fiscal year.
In keeping with this mandate, the September 2021 PDSB represents the first centralized collection of and dedicated publication on public debt statistics in The Bahamas by the DMO.
As prescribed in the Act, the content of the report includes:
- the outstanding stock of all public sector debt;
- the size and currency composition of the public sector debt;
- the interest rate mix of the public sector debt and
- the maturity profile of the public sector debt.
Based on data through end-September 2021, the central Government’s debt stood at an estimated $10,087 million (98.1% of GDP) and the total public sector debt portfolio (i.e., debt of the central Government and the covered Agencies and Government Business Enterprises), stood at $11,429 million for an estimated 111.1% of GDP.
Dissemination of timely, consistent, comprehensive, reliable and internationally comparable public debt statistics represents a key element of the Government’s commitment to promote accountability and transparency in debt management activities. It also contributes to informed decision making of domestic policy makers for sustainable macroeconomic growth, and is an invaluable source of information for international organizations, investors and other stakeholders who have an interest in the management of public debt in The Bahamas.
The Ministry invites and encourages the public to visit the national Budget Website (www.bahamasbudget.gov.bs) to view the Statistical Report.