**Wendy Craigg, Governor
Central Bank of the Bahamas**
The Governor of the Central Bank of The Bahamas, released a statement today on the “Implications of the Global Credit Crisis for the Bahamian Economy”. *(See link below)*.
The continued adjustment to the subprime crisis is expected to have economic consequences that soften the outlook for the Bahamian economy, and the Central Bank has advised that this environment of heightened uncertainty requires consumers, who also have to deal with the continuing impact of rising oil and food prices, to exercise prudence and constraint in their spending. *”All non-essential outlays and the taking on of new debt should be minimized or even deferred.”*
The Central Bank provided assurances that it will continue to monitor domestic and external developments and to take measures consistent with ensuring the overall stability of the financial system and the sustainability of credit and external reserves trends.