Actually a devalued dollar will make the Bahamas less attractive to illegal immigrants who want to export their dollars the Haiti. Also less likely they will setup shop here to trade labour for dollars. There are some benefits and most people think the whole idea is not up for discussion. You really don't understand how the monetary system works. Lets say our central bank with the government did what the USA is doing right now but, we are paying for their devaluation without any benefit decided to debase our currency by 5% over the next 3-5 years by printing more money. #1 The government could pay their bills. #2 When currency is created in this way it is given to banks and enters the money supply via loans. So #3 credit gets cheaper stimulating the economy. #4 Imported items get more expensive driving consumption of Bahamian made items. #5 less drain on our reserves. #6 more people get employed. I personally hate the worlds monetary system it is a system of debt that cant ever be repaid but, I believe this not VAT will get us out of the mess we are in quicker and for a longer term.

And you think the B dollar has not been devaluing over the past 5-10 years especially? It is pegged to the US dollar which is devaluing all the time due to the massive amounts of printing they are doing. The US dollar today is only worth about 27 cents of what it was when its current monetary system was put into place. The only thing that has not been changing is the B dollars relationship to the US dollar. Canadian dollars are on par with the US dollars now. Not because of an increase in their worth but, a devaluation of the US dollar. That is one reason imported things like fuel are getting more expensive on the world stage we are losing our value in comparison. And a 5% devaluation for example is allot better than a 8-15% increase from new taxes. And you missed the entire point about local products becoming cheaper versus imported thus helping to encourage local business. Why do you think China keeps their currency artificially low? So they can produce and especially export stuff.

How much could the government save on its own utility costs if BEC was 25% lower. How much less of a drain on reserves would exists if BEC fuel imports were 25% less or more. How much of a stimulus to the economy and reduction of the cost of living and increase in spending power would come from a 25% reduction in BEC costs? How much cheaper could hotels and our tourism product be? I am sorry BEC is the key to fixing this economy. Energy costs are killing this economy and getting lower could solve so many problems that are plaguing this nation. Can no one else see this?

While letting the dollar devalue may seem scary. We are paying a price for keeping it on par with the US. It depends on how much the dollar devalues versus the increase of VAT for example. A lower B dollar would make it cheaper for tourists to visit as they get more bang for their buck, chill the desire to import so much and also give local producers and manufactures an advantage or level field versus imported products and make it easier to possibly export helping to achieve the much sought after desire to diversify the economy.

While letting the dollar devalue may seem scary. We are paying a price of keeping it on par with the US. It depends on how much the dollar devalues versus the increase of VAT for example. A lower B dollar would make it cheaper for tourists to visit as they get more bang for their buck and also give local producers and manufactures an advantage or level field versus imported products and make it easier to possibly export helping to achieve the much sought after desire to diversify the economy.

A bonus is a bonus something extra given to a employee when the company has had a good year. It is not a salary or a guaranteed income. If a company has made no profit or lost money like most private companies have in the past few years Christmas bonus have not been given. It is outlandish that BEC losses money and needs tax payer subsidization on top of their already ridiculous prices to even contemplate a Christmas bonus for anyone! No private company would be doing this.

If the dollar declines then imports prices will go up relative to local ones. And the soil problems are all a bunch of excuses people use. Countries that are in the middle of a desert grow stuff. It can be done. Yeah we wont be the bread basket of the world but, for every dollar we can keep here and not ship our reserves out that is one step closer. You can grows lots of vegetables in very little soil. Using pots and coconut bark and there are all kinds of mediums these days to grow things in.

This really says allot about how far down the rabbit hole this country has dug itself. We are just about begging people to lend us money. With the loan payments like this one being pulled out of foreign reserves that are already at sketchy levels. If we do not find a way to start growing more of our own food and cutting down on our imports this is all just unsustainable. Tourism dollar inflows are depressed and then there will be VAT increasing costs for them to come but, VAT is needed to pay back all these loans we are facing. It really is a rock and a hard place we are in.

Go Mr. Miller!

Me too! Mr. Miller has my support.