Simple directory > Regional > Bahamas

Official name: Commonwealth of The Bahamas Head of State: Queen Elizabeth II, represented by Governor General Dame Ivy Dumont (appointed 13 Nov 2001) Head of government: Prime Minister Perry Christie (sworn in 3 May 2002) Ruling party: Progressive Liberal Party (PLP) (elected May 2002) Area: 13,935 square km Population: 325,500 (2004) Capital: Nassau Official language: English Currency: Bahamian dollar (B$) = 100 cents Exchange rate: B$1.00 per US$ (fixed) GDP per capita: US$17,000 (2003) GDP real growth: 0.90% (2003) Labour force: 156,000 (2003) Unemployment: 6.90% (2003) Inflation: 1.70% (2003) Balance of trade: -US$994.00 million (2003) Foreign debt: US$371.60 million (2003) Visitor numbers: 4.41 million (2003) (total air and sea arrivals)

 

Historical profile

The islands of the Bahamas were formerly a British Dependency. For many years, the Bahamas were controlled by a white elite based on Bay Street, the main commercial thoroughfare of Nassau, known as the `Bay Street Boys'.

1729 A parliamentary system of government was introduced.

1964 Internal self-government was granted.

1967 The first elections with universal adult suffrage were won by the Progressive Liberal Party (PLP), led by Lynden (later Sir Lynden) Pindling, with the support of the United Bahamian Party (UBP).

1973 The Bahamas gained full independence as a member of the Commonwealth.

1992 After 25 years in power, Sir Lynden Pindling and his PLP were unseated in the general election by the Free National Movement (FNM).

1997 The FNM won the parliamentary elections.

2000 The financial system was blacklisted by the Group of 7 (G7) countries.

2001 The US awarded the Bahamas certification as being one of 20 countries fully co-operating with anti-drug efforts. Dame Ivy Dumont, aged 71, became the first female governor general.

Prime Minister Ingraham announced that he would retire from political life after the general election.

2002 The PLP won the parliamentary elections. Perry Christie was sworn in as prime minister.

2003 In June, the government announced that it had received three bids for a 49 per cent stake in the Bahamas Telecommunications Company (BTC) but the government rejected all three.

2004 The Financial Action Task Force (FATF) of the OECD reported in July that it remains concerned about the ability of the Bahamian authorities to respond to foreign judicial and regulatory requests and it will therefore continue to monitor the situation.

 

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