#Bahamas, December 6, 2017 – Nassau – Moody’s has released some disconcerting information related to Caribbean countries, but it is a gripping reality which many are coming to terms with and are now instituting plans to mitigate the disastrous effects of Climate Change. Moody’s, in a report on Tuesday said: ‘The Bahamas, Fiji, Jamaica and the Maldives have been identified as among the most vulnerable small island sovereigns in a report on the credit implications of climate change. The Solomon Islands and St. Vincent and the Grenadines are equally at risk, according to analysts at Moody’s Investors Service.’
So what makes The Bahamas so risky, according to the rating agency, the fact that The Bahamas has higher income levels and the loss of those incomes are often and can be catastrophic for the economy are cited as vulnerable. In St Vincent and the Grenadines, the challenge is because of their very small economy says the analysts and Jamaica is at high economic risk in the face of natural disasters because of its low income levels and JA government’s limited fiscal flexibility.
Report analysts also said, “…the slow, unfolding nature of climate trends and uncertainty over the specific effects and mitigating actions imply that climate change could have credit implications in the longer term.”