Davis administration enters first full month after snap-election return

Prime Minister Philip Davis was sworn in for a second term on May 14, two days after the People’s Liberation Party prevailed in the May 12 snap general election. The 15th Bahamian Parliament has now been seated, and the Davis cabinet has moved into a first-month agenda that opens with the Department of Correctional Services swearing-in on June 8 and the 56th Caribbean Development Bank Annual Meeting held at the Baha Mar Convention Centre on June 3 and 4.

Finance Minister Michael Halkitis, in his role as Governor of the CDB to The Bahamas, hosted the Cultural Expression showcase alongside the Annual Meeting, where Belize formally assumed the chairmanship of the CDB Board of Governors. The IMF’s 2025 Article IV staff report — released in 2026 — cited an S&P upgrade from B+ to BB-, debt now near 74 percent of GDP, and a $1.1 billion Eurobond issued in June 2025 used to buy back $800 million in more expensive external obligations.

For the Bahamian diaspora, the institutional message is continuity: the fiscal trajectory toward a 50-percent debt-to-GDP target by FY2030/31 remains intact under a re-elected administration, and the country’s first sovereign credit upgrade in nearly two decades is now embedded in market pricing.

Source: AP News May 2026 election coverage; Official Bahamas Government Website; IMF Country Report 2026 Issue 031.