Story
Gov’t doubles social assistance to $14m
“Front-loaded” salary increases for public sector workers were the main driver behind the $36.4m year-over-increase in the Government’s first quarter fixed-cost spending, it was disclosed yesterday.
Story
FNM claims govt broke law on finance
THE Opposition’s finance spokesman yesterday challenged whether the Government may have violated public finance laws by drawing on $133m from its “sinking funds” to pay debts coming due.
Story
Gov't: We have maturing $300m US bond 'covered'
The Government is "very confident that we have covered" the $300m external US dollar bond due to mature in mid-January 2024, its top finance official said last night.
Story
Debt for nature
Prime Minister Philip Davis KC was in the UK last week and spoke at the Caribbean Council reception in London, where he said once more that about 40 percent of the county’s $11bn-plus national debt was the result of post-hurricane repairs and restoration efforts. He stated further that climate change is the greatest threat that The Bahamas is facing. But this battle against climate change is a costly endeavour, and the country must be innovative in creating new sources of income and reducing the crippling debt it is faced with.
Story
Bahamas is exploring 'debt for nature' swap
The Government is exploring a "debt-for-nature swap" with the Inter-American Development Bank (IDB) that could result in at portion of its $11.2bn national debt being forgiven, the Prime Minister said yesterday.
Story
Gov’t warned: Don’t dictate how private sector invests
The Government cannot appear to be dictating how private companies invest their monies, a well-known banker is warning, following the furore over insurers possibly having to hold a “minimum” 50 percent of assets in public sector securities.
