DPM slams opposition 'hypocrisy' over deficit
The deputy prime minister yesterday slammed the opposition’s “hypocrisy” for criticising the projected $1.3bn fiscal deficit for 2020-2021 when it had called for some $2bn worth of borrowing just weeks before.K Peter Turnquest, leading off the Budget
Planning critical for $9m food security investment
Planning and co-ordination will be critical if the government’s $9m food security investment in the 2020-2021 budget is to have any impact, agricultural sector participants have warned.Dr Earl Deveaux, a former minister for agriculture and current da
Govt 'very near' to online solution for cruising permits
The government is “very near” to going live with the portal that will allow visiting boaters and fishermen to pay for key permits online, the deputy prime minister said yesterday.K Peter Turnquest, kicking-off the budget debate in the House of Assemb
Financial provider backs IMF over interest rate cut
A Bahamian financial services provider yesterday joined the International Monetary Fund (IMF) in urging the Central Bank to cut interest rates to stimulate economic growth and investment post-COVID-19. Robert Pantry, Simplified Lending’s founder and
IMF: Bahamas must hit 'average' $500m surplus
The government must run an unheard-of $500m fiscal surplus beginning in the 2024-2025 budget year to hit a key debt reduction target by the end of this decade, the International Monetary Fund (IMF) has revealed. The fund, in a report accompanying it
Govt may replace BPL on bond raise
The government may move Bahamas Power & Light (BPL) aside and secure the nine-figure refinancing the state-owned utility requires itself, a Cabinet minister revealed yesterday.
$30m 'sin tax' rise rejected by govt
The government rejected plans for a $30m hike in so-called “sin taxes” on alcohol and tobacco in the run-up to the 2020-2021 budget, the International Monetary Fund (IMF) has revealed. The fund, in a report accompanying its decision to grant The Bah
IMF signals scope for interest rate cut
The International Monetary Fund (IMF) has nudged the Central Bank towards a more proactive monetary policy stance by saying it has "some room to lower interest rates" amid the COVID-pandemic.
SpaceX success shows the new space race is on
IN 1957 the then Soviet Union launched Sputnik, the world’s first communication satellite, firing the starting shot for the first space race. Over the following decades the USSR and the USA were involved in a competition, with each side trying to out
'Baffled' over failure to reform public pensions
The Chamber of Commerce’s chief executive says he is “baffled” at the government’s failure to reform public sector pensions by making civil servants contribute towards their own retirement costs.Jeffrey Beckles, speaking on a webinar hosted by the Ch
Economy set to contract by 15%
The Bahamian economy is likely to shrink by 15 percent this year due to the combined effects of COVID-19 and Hurricane Dorian, a financial analyst has predicted. Anthony Ferguson, CFAL’s principal, speaking to a webinar hosted by the Chartered Finan
Govt 'not serious' over food security
The government’s 2020-2021 budget allocation for agriculture shows it “can’t be serious” about improving The Bahamas’ food security, a well-known financial analyst says.Anthony Ferguson, CFAL’s principal, speaking on a webinar hosted by the Chartered
Minister not disappointed at missing $500m 'dream'
The minister of works says he is “not at all disappointed” by his $151m capital works budget for 2020-2021 even though it falls well short of his previously-voiced desire for $500m.Desmond Bannister, speaking ahead of today’s Budget debate kick-off,
Airport calls for early arrivals as it reopens
Officials at Lynden Pindling International Airport (LPIA) are urging travellers to arrive two hours ahead of departure time when domestic inter-island flights resume today.The Nassau Airport Development Company (NAD), in a statement released yesterda
Tour operator fears on COVID protocols
Tour and excursion provider are voicing concerns over the cost and ease of execution associated with implementing portions of the tourism industry’s post-COVID-19 Readiness and Recovery Plan . Captain Mike Russell, owner of Chubasco Charters, told T
