Should The Bahamas move away from pegging its dollar solely to the US dollar and consider a basket of currencies or a regional digital currency?
Rethinking the Bahamian Dollar?
Prime Minister Philip Davis has floated the idea of pegging The Bahamas’ currency to a basket of currencies, rather than solely to the US dollar, to enhance global trade flexibility. Speaking at the Afreximbank meetings in Nigeria, Davis also suggested a CARICOM-Africa digital currency to make regional trade smoother and more efficient.
The Bahamas has already tested a new settlement system (CPASS) with Africa, aiming to reduce dependency on foreign exchange bottlenecks.
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