IMF: Raise VAT rate or debt goal ‘out of reach’
The International Monetary Fund (IMF) yesterday warned the Government’s 2031 debt target will be “out of reach” without “further revenue reforms” including a possible VAT rate increase.
GB Power chief: Rate rise review can restart
Grand Bahama Power Company’s top executive yesterday said he believes it has made sufficient reliability improvements for regulators to restart their review of its proposed 6.3 percent base rate increase.
Bahamas needs structural fix to prevent 1.5% growth ‘slow’
The International Monetary Fund (IMF) yesterday urged The Bahamas to slash crime, reform its labour market and build more hotel rooms to prevent economic growth “slowing” to its 1.5 percent historical average.
IMF: Climate investments can boost Bahamas’ GDP by 9%
The Bahamas could expand its annual economic output by 9 percent over the “long-term” it if makes substantial multi-million investments in climate change adaptation and protecting its natural assets.
Deficit more than triples to $194m in first quarter
The Government’s fiscal deficit for the 2024-2025 Budget year’s first quarter more than tripled year-over-year with close to one-third of that ‘red ink’ incurred during September.
'Can't go higher': Insurer says no no major hike in '25 storm cover
Insurers yesterday voiced optimism that Bahamian consumers will see "no significant increases" in hurricane coverage costs in 2025 after telling global reinsurers: "We cannot go any higher."
One dead, two injured in boat accident in North Andros
ONE young man is dead, and two others are getting medical treatment following a boating accident at sea in North Andros.
Hope of end to confusion over $200 fee to extend stay
BAHAMIAN marinas yesterday voiced optimism that the Deputy Prime Minister and Immigration have cleared up the “confusion” over the $200 ‘stay extension’ fee ahead of the peak winter boating season.
CCA pledges hotels in Izmirlian appeal
Baha Mar’s contractor yesterday asserted it is “willing to pledge” its two Nassau resorts, which have a combined value of up to $355m, as security for its appeal against Sarkis Izmirlian’s $1.642bn damages award.
‘No rocket science’: Ease housing crisis via 70% lot discount
A FOUR-TIME Bahamas Real Estate Association (BREA) president is urging the Government to “put a dent in the housing crisis” by offering home buyers lots at a 70 percent discount, adding: “It’s not rocket science.”
Resorts rebound from 5-15% fall occupancy drop
BAHAMIAN resort occupancies, which fell by between 5-15 percent during “a really soft” fall 2024, are now rebounding towards levels “pretty close or equal to” last year’s for Thanksgiving and Christmas.
Gov’t beats bond buy back target at $216m
THE Government has beaten its debt buy back target by agreeing to repurchase almost $216m in Bahamian foreign currency bonds that were listed and traded on major international stock exchanges.
Nearly 2,000 to share Auto H&L compensation for interest overcharges
Almost 2,000 Bahamians will today start to receive a nearly-$1m collective payout as compensation for being over-charged interest on their loans by one of this nation’s largest used car dealers.
$1.5bn battle for sunken treasure
A furious legal battle has erupted over efforts to recover $1.5bn in sunken treasure from Bahamian waters amid accusations that all parties involved have violated this nation’s laws.
‘Extraordinary’ Business Licence fees predicted
The Ministry of Finance’s top official yesterday revealed he expects next year’s Business Licence fee revenues to be “extraordinary” following a 10 percent increase in collections this year.
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