December 11, 2013
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One in four women victims of violence
A SIGNIFICANT Gender-Based Violence study found that one in four women in The Bahamas had suffered physical or sexual violence in their life, with survivors lamenting the challenges with accessing healthcare, law enforcement and social services in the country.
‘New farming model’ to aid 57,000 trapped in poverty
A “new food production model” will aid up to 57,000 poverty-stricken Bahamians through the location of ten hydroponic container farms “in poor and vulnerable communities”, it has been revealed.
Extra 14,500 Bahamians to benefit in $31m clinic spend
An extra 14,500 Bahamians will benefit from the Government’s decision to expand its investment in Family Island public health clinics by more than 50 percent, it has been revealed.
Abaco suffers three-year, $60m Dorian rental blow
Abaco lost more than $60m in rental income during the 28 months immediately after Hurricane Dorian due to the devastation inflicted on its housing stock, it was revealed yesterday.
IDB chief hails BPL fuel hedging impact
The Inter-American Development Bank’s (IDB) president yesterday hailed the impact of Bahamas Power & Light’s (BPL) fuel hedging strategy despite doubts on whether it remains in place.
Bahamas sees $900m boost from marine areas expansion
The Bahamas has generated a $900m annual economic boost by expanding its Marine Protected Areas (MPAs) to cover 20 percent of the country’s coastal environment, studies have estimated.
Bahamas GDP rebounds 4-8 months after storms
The Bahamas has returned to pre-hurricane gross domestic product (GDP) levels between four to eight months after each of the last four major storms struck this nation, a study has found.
IDB report: Bahamas had ‘negative return on investments in 2020’
The Bahamas had a negative return on investments in 2020 despite having forbearance and financial support measures for non-performing loans during the COVID-19 pandemic, says an Inter-American Development Bank report.
Bahamas must replace vital infrastructure ‘every 20 years’
The Bahamas faces having to replace its entire infrastructure every 20 years due to its exposure to more severe and frequent hurricanes, an Inter-American Development Bank (IDB) analysis has asserted.
All accounted for? No crown land audit since 1999
The government has likely “not fully accounted” for a key asset after failing to conduct an inventory of crown land holdings during the 21st century, it has been revealed.
$20m loan to fight COVID
THE government and the Inter-American Development Bank have partnered in a $20m loan contract “to help reduce the morbidity and mortality caused by COVID-19 and to lessen its impact on public health”.
‘Be bold’: Infrastructure spend must hit 5% GDP
The government has been urged to “be bold” with reforms to kickstart post-COVID economic recovery that include more than doubling projected annual infrastructure spending to between $600m-$700m.
‘Reinvent’ agriculture for $190m import cut
The Bahamas can slash $190m off its food import bill only if it completely “reinvents” the business model for its shrinking agriculture sector, the Inter-American Development Bank (IDB) has disclosed.
Bahamas avoids 'dire' 26% shrink of its GDP output
The Bahamas has avoided the worst-case scenario of its economy shrinking by 26 percent in 2020 thanks to the global oil price slump and government's policy response, a report has concluded.
Cat 5 hurricane surge threat to 83% of tourism
The Bahamas must "build back better" following Hurricane Dorian and COVID-19 to boost its competitiveness given that 83 percent of the tourism economy is exposed to Category Five storm surge.
Tourism could be off by 75% 'through 2021'
The Bahamas could endure tourism volumes up to 75 percent below last year's record-breaking 7.2m visitors "through 2021", the Inter-American Development Bank (IDB) warned yesterday.
'Informal economy': 75% of SMES at disadvantage
Some 75 percent of small Bahamian businesses face a persistent competitive disadvantage because they are up against rivals in an "informal economy" that generates up to 30 percent of Bahamian GDP.
Tourism losing $8.5m yearly to plastic pollution
The Bahamian tourism industry is losing up to $8.5m annually to plastic beach pollution, an Inter-American Development Bank (IDB) report has revealed, undermining the sector's key attraction.
Bahamas misses over marine genetics share
The Bahamian people are earning nothing from foreign exploitation of this nation's marine genetic resources that has produced over 100 "new natural products", a report has revealed.
Sharp rise in households with income below minimum wage
THE number of households reporting an income below the minimum wage in April nearly trebled, according to an Inter-American Development Bank (IADB) report.
IDB: 100,000 workers 'vulnerable' to job loss
More than one in every six "formal" jobs in The Bahamas could be lost due to COVID-19, the Inter-American Development Bank (IDB) has warned, making 100,000 workers "vulnerable" to the fall-out. An IDB report on the repurposing of more than $19.5m to
Bahamas holding off debt cost pressures
The Bahamas was the only Caribbean nation in early April to escape pressure on its bond yields amid the COVID-19 pandemic, an Inter-American Development Bank (IDB) report revealed yesterday. The IDB, in its 2020 first quarter “bulletin” on the regio
IDB warns ‘worst case’ impact could be $3bn
The Bahamas could suffer a catastrophic 26 percent gross domestic product (GDP) cut if the worst-case coronavirus scenario comes true, an Inter-American Development Bank report revealed yesterday.
Tourism set for $325m Dorian hit through '22
The Bahamian tourism industry will lose some $325m over the three-year period required to make a “full recovery” from Hurricane Dorian, a newly-published study has revealed.A 218-page Inter-American Development Bank (IDB) report, representing a full
'End insurance VAT for small business'
The government should extend the elimination of VAT from insurance premiums to small and micro-sized business following Hurricane Dorian, the Inter-American Development Bank (IDB) is urging. The multilateral lender, in its full 220-page study of Dor
'Unify' Abaco's power grid to eliminate four voltages
The Inter-American Development Bank (IDB) has warned many Abaco residents will be without power “for a year or longer”, as it called for a “unified” grid to eliminate the four voltages used pre-Dorian.The multilateral lender, in documents accompanyin
Bahamas in Fintech 'first for Caribbean'
Corporate loan rejection rates in The Bahamas are double those in other Caribbean countries, it has been revealed, resulting in financial technology (Fintech) being deployed to boost capital access. An Inter-American Development Bank (IDB) paper on
IPO plan for $170m renewable vehicle
Bahamian investors will ultimately be given the opportunity to own the government’s $170m renewable energy financing vehicle through a public share offering, it has been revealed. An Inter-American Development Bank (IDB) report obtained by Tribune B
'Business as usual' hurt poverty battle
A $9.6m initiative to fight Bahamian poverty was undermined by the public sector’s “strict bureaucratic policies” that treated the effort as “business as usual”. The Inter-American Development Bank (IDB) report on efforts to reform The Bahamas’ soci
Bahamas tops hemisphere for quickest govt services
The Bahamas is among the hemisphere’s best performers for the speed at which government services are delivered, even though “three visits” are required to complete one-third of such transactions. These findings, contained in a newly-released Inter-A
Society's poorest 60% consume less than wealthiest 10%
Bahamian per capita income has taken a decade to recover to pre-recession levels of 2007, with a just-released report arguing this masks “significant income inequality”.An Inter-American Development Bank (IDB) on proposed welfare system reforms that
$5m waste of axed welfare reform plan
Poverty-stricken families and the Bahamian taxpayer have received almost no value from a near-$5.4m investment in welfare reform that was halted by the Minnis administration.
$170m vehicle to 'surpass' Caribbean renewable lead
Bahamian investment will ultimately be sought in a $170m special purpose vehicle (SPV) that aims to “surpass” the government’s timeline for this nation to become “a Caribbean renewable leader”. An Inter-American Development Bank (IDB) report, which
Energy industry eyed for $80m post-Dorian boost
The Bahamian energy sector is being targeted for an $80m post-Dorian investment that seeks to combine better storm-resilient infrastructure with increased renewable energy penetration. Documents seen by Tribune Business reveal that the Inter-America
Private sector sees $1bn Dorian blow
The Bahamian economy’s productive sectors have suffered a combined $621m damages from Hurricane Dorian, a newly-released report has revealed, with tourism sustaining a half a billion dollar blow.
Small business faces $180m 'finance gap'
The Bahamas faces a $180m “finance gap” in providing capital to small businesses, the Inter-American Development Bank (IDB) has revealed, as its project covers just 17 percent of demand. The multilateral lender, in documents detailing its $25m initi
GB ships' waste processor in $3m expansion raise
A Freeport-based ships’ waste processor has been approved for a $3m Inter-American Development Bank (IDB) loan that will quadruple the size of the Caribbean’s first such facility.Clean Marine Group, which was founded in 2017, will also receive $1.5m
IDB: Clock ticking over EU list threat
The Inter-American Development Bank (IDB) yesterday urged the government to “prioritise” escaping the Financial Action Task Force’s (FATF) adverse listing before Europe revives its own initiative. A policy brief produced by IDB officials, which was
IDB: Bahamas economy has ‘turned corner’
The Inter-American Development Bank (IDB) yesterday gave the Government a further boost with its analysis that “the Bahamian economy has turned the corner”, while warning “major challenges” remain.
$25m initiative to reverse 85% small firm credit rejection
A $25m Inter-American Development Bank (IDB) loan is aiming to reverse an 85 percent rejection rate on small business financing applications, it was revealed yesterday.
Governance and regulatory woes hurt renewables
Poor governance and regulatory challenges have been blamed for the failure to better integrate renewable energy into The Bahamas electricity mix, with investors unsure where they stand.
Underfunded public pensions bigger than national economy
The underfunding of The Bahamas’ public sector pensions “poses a serious long-term challenge” because these liabilities are collectively larger than this nation’s economy.The Inter-American Development Bank (IDB), in latest Caribbean Quarterly Bullet
$20m loan to help young unemployed find work
IN a bid to reduce unemployment among people between the ages of 16 and 40, the government signed a $20m loan with the Inter-American Development Bank yesterday.
Government signs deal to borrow $70m from IDB
THE government signed agreements for two investment loans worth $70m with the Inter-American Development Bank yesterday.The loans will fund an airport infrastructure programme in the Family Islands and a climate resilient coastal infrastructure and m
IDB: Bahamas ‘4x costlier’ over company registration
Registering a company in the Bahamas is “four times’ costlier” than in developed countries, with less than 3 per cent of government procedures able to be completed online.
Citizen Security scheme on hold amid review
THE Citizen Security and Justice Programme, funded to the tune of $20m from the Inter-American Development Bank (IDB), has been put on hold as the Minnis administration reviews the project with a view toward tweaking what the former government had es
IDB bans companies for fraud and corruption
THE Inter-American Development Bank has sanctioned ten Bahamian entities for fraudulent and collusive practices, barring those companies and individuals from participating in IDB-financed contracts as well as other linked international organisations.
Violence in Bahamas at levels close to armed conflict zones
THE current level of deadly violence means the Bahamas almost qualifies as an armed conflict zone, a new report reveals.
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