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  <title>John Rolle on The Bahamas’ Fixed Exchange Rate and the First Nationwide Central Bank Digital Currency</title>
  <description>John Rolle is governor of the Central Bank of The Bahamas and is the second sitting central bank governor to appear on Macro Musings. In his first appearance on the show, John joins the program to discuss what it's like to manage a central bank in a small open economy with a fixed exchange rate, the economic vulnerabilities of a tourism-dependent economy, the SandDollar, the future of digital payments and financial resilience, and much more. Watch&amp;amp;nbsp;the&amp;amp;nbsp;full length video&amp;amp;nbsp;on our new YouTube Channel! Check out the&amp;amp;nbsp;transcript&amp;amp;nbsp;for this week’s episode, now with links. Recorded on September 8th, 2026 Subscribe to David's Substack:&amp;amp;nbsp;Macroeconomic Policy Nexus Follow David Beckworth on X:&amp;amp;nbsp;@DavidBeckworth Follow the show on X:&amp;amp;nbsp;@Macro_Musings Check out our Macro Musings merch! Timestamps 00:00:00 - Intro 00:02:02 - Central Bank of the Bahamas 00:18:02 - The Economy of the Bahamas 00:24:56 - Financial Stability in the Bahamas 00:39:29 - Dollar-Based Stablecoins in the Bahamas 00:42:50 - Tokenized Deposits in the Bahamas 00:44:14 - Future of the Financial System and Economy in the Bahamas 00:49:41 - Small Open Economy Central Banks 00:52:04 - Outro </description>
  <author_name>Macro Musings with David Beckworth</author_name>
  <author_url>https://macroeconomicpolicynexus.substack.com/</author_url>
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