By RASHAD ROLLE
Tribune News Editor
rrolle@tribunemedia.net
PRIME Minister Philip “Brave” Davis said a $300m borrowing resolution tabled in the House of Assembly last week is a precautionary measure designed to offer flexibility, not an immediate commitment to borrow the full amount.
He said the authorisation would allow the government to borrow up to $300m, but only when market conditions are favourable, and the timing is right.
He said the funds would not be used to finance the government’s deficit or current projects.
He said the funds are designated for the National Investment Fund, a strategic initiative to secure valuable assets for the country’s long-term growth.
The National Investment Fund, established to acquire assets that can foster prosperity for all Bahamians, must be properly capitalised, according to the prime minister.
He highlighted the importance of the National Investment Fund Act, noting that its passage was crucial in securing assets that will benefit future generations of Bahamians.
“What,” he said, “is the point of passing a significant piece of legislation like the National Investment Fund Act if we are not going to equip it with the necessary funds to succeed?”
Comments
ExposedU2C 1 month, 3 weeks ago
Translation: Tony Ferguson advises me as your PM that every great deal (aka steal) must have a Fund for him to control and levy fee upon fee of every kind imaginable as is the case for our nation's Sovereign Wealth Fund that he has been bleeding to death with fees.
Can't help but wonder if the notorious Exuma moorings monopoly was supposed to have formed part of this so called National Investment Fund with the $300 million credit facility somehow earmarked as part of that deal (steal). And what about the electricity generation and power grid monopoly deal (steal) that has Snake and Tony Ferguson's finger prints all over it?
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