The Tribune

By RICARDO WELLS

Tribune Staff Reporter

rwells@tribunemedia.net

OFFICIALS from the newly formed Bahamas National Citizenship Party yesterday called the stalled $3.5bn Baha Mar project the “result of incorrect economic models pursued with abandon” by successive governments.

In a press statement from the fringe party, organising chairman Reverend Andrew Stewart said: “To date, the Bahamian people are still in the dark as to what is unfolding. Both the PLP and FNM are responsible for what has happened. This is a result of maximum leaders relying on their own abilities to negotiate ‘deals’ in the interest of the nation.”

According to Rev Stewart, with the handling of the Baha Mar matter, the government has placed the country in a “geopolitical mess of mammoth promotions.”

He raised questions over the future of the property and the possibility of the resort’s land being turned over to the Chinese as a result of the dispute.

The China Export-Import Bank is the resort’s main financial backer.

The BNCP labelled Prime Minister Perry Christie an “insult” to the Bahamian people.

The party was formed last month out of the Bahamas National Citizenship Coalition with plans to contest seats in the 2017 general election.

“Obviously, this Christie government has no credibility when it comes to managing the affairs of our nation,” Rev Stuart said. “We therefore, call on the PLP to do the right thing in the national interest and send this disastrous incompetent leader on his way.”

Baha Mar filed for Chapter 11 bankruptcy in a US court on Monday. The next day, Prime Minister Perry Christie said the move came “without notice” to the government, adding that he had been working up to June 26 to secure a deal with Baha Mar and its lender.

Mr Christie said his personal intervention with all parties involved led to a substantial agreement on a packaged solution for additional funding by the China Export-Import Bank.

This deal was going to ensure that the general contractor resumed construction at the West Bay Street project and that the mega-resort was completed, Mr Christie said.

The resort was originally scheduled to open last December but its opening has been delayed three times.