Governor of the Central Bank, John Rolle announced a new savings bond program this week set to begin in November 2024.

Rolle told reporters, “whatever funds are raised the government has the opportunity to make use of those funds, similar as if it borrowed through other channels.  But given that in any year the government’s needs in terms of either borrowing or reissuance of existing debt is in the hundreds of millions of dollars and some years over a billion dollars.  What we’re saying is that a ten to seventeen million dollar program savings bond is not intended to put any major dent into how the government raises funds.”

The Central Bank Governor also addressed the progress of integrating the Sand Dollar into Bahamian society.  He said, “I would say that we have a lot more work to do there particularly around growing the merchant space equipping more businesses to be able to accept Sand Dollar and also increasing the access for the use of Sand Dollar so those who want to have a faster means of accessing any sort of digital account to receive payment.”