Central Bank gets new Deputy Governor after row with Administration over deficit numbers…


Central Bank must be allowed to maintain its independence!

The Central Bank of the Bahamas

Nassau, Bahamas – A move to quickly rescind the comments of the Central Bank has come following that row we reported between the bank and the Minnis Cabinet, which saw the true deficit reported by the Bank in its report.

The Minnis Government went to Parliament making the claim that the deficit was more than $722m, but the Central Bank report confirmed that the true number was just above $200m.

Well, no one has explained what has happened with the Minnis Government’s mixed up numbers but we know shakeups have already begun at the BANK.

This afternoon the bank is reporting that a new Deputy Governor has been appointed.

Mr. Derek S. Rolle was appointed Deputy Governor, with effect from September 1, 2017.

A 28-year veteran of the Central Bank, Mr. Rolle succeeds Mr. Michael Lightbourne, whose tenure as Deputy Governor surprisingly ended on June 30, 2017. Mr. Rolle has served in various capacities within the Bank, most recently as Senior Manager and head of the Banking Department.

The Governor of the Central Bank is Mr. John Rolle. The Minnis Government must learn that, for international purposes, the Central Bank must be allowed to have its independence and cannot be directed.

We report yinner decide!