Bahamas pleased with Moody’s rating

The Government of The Bahamas says it’s pleased to learn that rating agency Moody’s has affirmed the country’s A3 bond ratings, which reaffirms the credit profile of the country.



The government says it will now work to reduce the level of deficit spending, as is proposed in the 2011/2012 fiscal budget.



It says efforts are also being made to decrease the debt- to-GDP levels in order to re-establish the fiscal space the country enjoyed before the onset of the economic crisis.



The government says its efforts are focused on promoting broad economic growth through innovative marketing programmes in tourism, pursuit of new opportunities for international financial services and increased investment promotion.