In 1998, the Bahamas was a small island nation located in the Caribbean Sea. It had gained independence from Great Britain in 1973 and was now a constitutionally-governed parliamentary democracy with a population of around 300,000 people. The economy was largely based on tourism and offshore banking, with the country also recognized as an important hub for international trade. Despite this economic success, the Bahamas was facing several significant challenges in 1998. Inflation had risen sharply due to a collapse in the value of its currency, leading to an ongoing financial crisis that had caused considerable hardship for many citizens. In addition, poverty and unemployment were high, with around one-third of the population living below the poverty line. The government had recently implemented several reforms to improve access to healthcare and education while also taking steps to diversify its economy away from its reliance on tourism and offshore banking. There were also efforts being made to tackle corruption and reduce poverty levels throughout the country. In addition, The Bahamas was becoming increasingly engaged with international affairs; it had recently joined CARICOM and signed various treaties with neighboring countries such as Cuba and Jamaica. It was also beginning to increase its presence on the world stage by joining various international organizations such as UNESCO and the World Trade Organization. See dentistrymyth for Bahamas in the year of 2015.

Yearbook 1998

Bahamas. The absence of direct taxes and economic stability has made the Bahamas one of the world’s leading international financial centers (offshore). According to Countryaah, the capital of Bahamas is Nassau. Finance Minister William Allen announced in February that all necessary laws have now been enacted to create a stock exchange that is expected to start working by the end of the year.

• Abbreviationfinder: What does BAH stand for in geography? Here, this 3 letter acronym refers to the country of Bahamas.

History

The English occupied New Providence in 1629, remaining there until 1641, when they were driven out by the Spaniards. In 1646 they then colonized Eleuthera, then, drawing the settlers from Bermuda (1666), they returned to settle in New Providence, where the port of Nassau is, the only important one of the whole island group: in fact it reaches a depth of more than 4 meters at low tide, and therefore it is always accessible even to rather large ships.

In 1670 the Bahamas were granted by Charles II of England to a group of lord owners, but their rights were contested by the Spaniards and the Buccaneers. In 1718 an English crown governor was sent there and some colonists began to settle there and cultivate fruit trees. During the American war of independence, then, some English loyalists took up residence there, generally accompanied by their slaves; and agriculture advanced, especially as far as cotton is concerned. The islands then fell, for a short time, into the possession of the United States and then the Spaniards, but were soon reconquered by the English. On this occasion the rights of their ancient owners were redeemed by the English Parliament and the Bahamas became the property of the crown. The agriculture did not continue to prosper for long, because an epidemic destroyed the cotton plants, so that this crop at the end of the century. XVIII had fallen a lot. The production of salt, very significant in the Caicos and Turks islands, helped to keep some traffic in the archipelago, but in 1848 those islands were administratively separated from the others. The abolition of the slave trade in 1834 represented another serious blow to the Bahama Islands, whose events continued to suffer the effects of the political movements of the United States of America. In fact, during the American Civil War, the islands became a refuge for violators of the blockade and trade rose to enormous figures, for exports and imports, which both reached about 5,000. 000 pounds at peak times. However, this trade declined after the end of the war, and storms, droughts and other misfortunes seriously damaged the islands. Later the increase in the demand for fruit and vegetables, for sponges, etc., by the industrial population of the United States, again encouraged some crops (currently tomatoes are exported in quantity) and fishing; Agave sisalana also grows there, which is processed and exported. he again encouraged some crops (currently tomatoes are exported in quantity) and fishing; Agave sisalana also grows there, which is processed and exported. he again encouraged some crops (currently tomatoes are exported in quantity) and fishing; Agave sisalana also grows there, which is processed and exported.

Today the application of scientific procedures has made sponge fishing the main resource of the archipelago; the timber industry is also considerable there. In recent years, however, the policy of the United States has brought about a new profound change in the economic life of these islands: they now house immense quantities of wines and alcohol, some of which find illicit outlet in the United States, while the the other part is consumed by tourists who, especially in winter, move from the United States to the Bahamas. Ports were improved and other public works also increased.

The population was 43,521. in 1881, of 53,735 in 1901 and reached 53,031 residents in 1921; according to an evaluation of January 1925, the population was 55,423 residents About 12,000 individuals are of European descent, the rest for the most part being black people, descendants of black and white marriages. The islands are ruled by a governor designated by the English crown and assisted by an executive council of nine members, some of whom are nominated by the crown. Then there is an elective assembly: in the elections the owners of the lands and the occupiers vote. Above the assembly is a legislative review council, made up of nine members appointed by the crown.

Nassau is the only port and the only city of any importance; it is renowned for the beauty of its vegetation and the development of marine life; the island of New Providence had, ncl 1921, 12,975 residents resident largely in Nassau.