Bahamas To See Nearly $10B COVID-19 Losses

NASSAU, BAHAMAS – COVID-19 is expected to have a $9.5 billion impact on The Bahamas. That’s according to a new report by the Inter-American Development Bank And U.N. Economic Commission for Latin America and the Caribbean.

The Inter-American Development Bank And UN Economic Commission for Latin America and the Caribbean report revealing the economy is not expected to return to its pre-pandemic level until 2024.

The report also noting that the pandemic overlapped the devastating impact of Hurricane Dorian. The two disasters are estimated to have cost the country a combined $13.1 billion dollars.

The report also showing that the pandemic in The Bahamas has affected more women than men.

Health Minister Dr. Michael Darville says the report is very important for the country as it provides lessons for the collaborative response.

Economic Affairs Officer at Eclac Omar Bello sharing more statistics and says it is estimated that jobs will be impacted.

Now, this report is the first of its kind carried out in the Caribbean, and only the second to be done in Latin America.