This additional foreign currency borrowings of US$750 million (US$750,000,000) until November 2028 at starting variable interest rate of 6% per annum at a time when interest rates are expected to increase significantly over the next decade is not good news at all - instead its a royal shafting thanks to the incompetent comedic duo of K P Turnquest and Marlon Johnson!
Posted 18 November 2017, 2:09 p.m.
> K P Turnquest told the House of Assembly that he defended the former government’s multi-million dollar deficit overshoots, and the addition of $2.2 billion to the national debt, because he could “not allow anyone to speak ill of the Government of the Bahamas”. He argued that the Minnis administration had been forced into this week’s US$750 million bond issue by the unfunded spending commitments left behind by its predecessor, which were “outside its Budgetary allowances to make”.
K P Turnquest obviously looks down on all of us D- educated Bahamians as if we are totally stupid and ripe for manipulation. Why would or should he have to defend the former government's multi-million dollar deficits when everyone knows that international investors around the world already have access to all the IMF reports on the state of, and reasons for, our country's very dismal financial state of affairs?!
Our Minister of Finance knows full well that the only deficits international investors care about are the ones that occur under his watch. The fact that the starting variable interest rate on the $750 million bond issue is a whopping 6% says all we need to know when it comes to the little faith international investors now have in the Minnis-led administration's ability to turn our country's financial state around. K P Turnquest needs to focus much more effort on the real work at hand that needs to be done, rather than wasting his time trying to score cheap political points.
Posted 17 November 2017, 1:10 p.m.
*Repost:* This arse James Smith never ever walked his own talk while at the Central Bank nor later while at the Ministry of Finance. He always was a great believer in and promoter of government borrowing, both foreign and local, and played a big role in government raping the National Insurance Fund whenever it needed easy access to what once was a big pot of money. The asset side of NIB's balance sheet is loaded with investments in government issued debt of one kind or another thanks in large part to Smith's role in our country's finances in the past. It's truly amazing how those who participated in a big way in creating the financial mess we are in today (like James Smith) have the audacity to think they now have something constructive to say about our country's finances.
Posted 17 November 2017, 12:40 p.m.
For Pete's sake.....please just liquidate this damned insolvent bank! We, the people, cannot afford to keep it propped it.....more than $350 million ($350,000,000) of our burdensome taxes and national insurance fund contributions have been plowed into keeping this useless and abusive financial institution alive to help the numbers' bosses launder their ill-gotten and unjust riches. Enough is enough!
Posted 17 November 2017, 12:22 p.m.
Minnis already has a press secretary to hide behind.....now he wants a Deliverables Unit to hide behind when he doesn't make good on his election promises! Pleazzzzzze...why the hell is Minnis PM if he has misgivings about having the leading ship and other skills necessary to make good on his election promises?! It seems ever time the new Minnis-led administration downsizes government a bit they grow it even more by creating all of these nonsensical new positions!!
Posted 17 November 2017, 12:04 p.m.
Does Ellsworth Johnson himself or a close member of his family have Haitian blood coursing through their veins?
Posted 17 November 2017, 11:56 a.m.
There is no longer any doubt in my mind that the constantly yapping little white-haired poodle sees all MPs like himself as elitist entitled overlords with responsibility for directly distributing crumbs to their poor dumb D- educated constituents in exchange for political support. The fact that D'Aguilar is a well known customs duty dodger really does say all there is to say about his character and integrity.
Posted 17 November 2017, 11:50 a.m.
This arse Marvin Dames refuses to address the issues on this matter as if they will somehow magically go away when the public's attention is moved to the next topic du jour. Well Mr. Dames you can certainly count on much fewer people supporting you in your constituency and Minnis in his constituency if the following three basic questions are not answered to the satisfaction of the Bahamian people:
1) Who is (are) the owner(s) of the company that was involved as an unnecessary intermediary in the purchase and import of the weapons that were the subject of the $1.3 million contract?
2) Why did the previous Commissioner of Police (Greenslade) not approve the import of these weapons as required by statute law and related regulations?
3) Why is it the RBDF was not involved in the chain of custody of these weapons from the very moment each shipment of them was off loaded at the dock?
Truth be told, Marvin Dames should resign if he is unwilling to answer at least these three most basic question in this matter. Same goes for Minnis who prefers to hide behind his press secretary on matter like this this one.
Posted 17 November 2017, 11:28 a.m.
Well, well...look who are having the last laugh on all of us dumb D- educated voters and taxpayers who struggle daily and still can't make ends meet? And to think Minnis is looking forward to making it a threesome once he and his get theirs....if you know what I mean.
Posted 17 November 2017, 11:12 a.m.
This additional foreign currency borrowings of US$750 million (US$750,000,000) until November 2028 at a starting variable interest rate of 6% per annum at a time when interest rates are expected to increase significantly over the next decade is not good news at all - instead its a royal shafting thanks to the incompetent comedic duo of K P Turnquest and Marlon Johnson!
Posted 17 November 2017, 11:07 a.m.
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