Actually you are very wrong Birdie. Quarterly imports average about $682MM per quarter, given the lower need for hotel and cruise ship supplies and an economy with lowered spending by the general public will decrease that quarterly average. This is on top of the fact that imports for Abaco apart from building materials are down and many American second home owners rebuilding will send materials that do not impact the foreign reserves. With the depressed economy we will like have over a year of foreign reserves without any new input. Mind you we can't run the foreign reserve to 0 but also that no expert expects this situation to last a full year and most expect it to be behind us in 6 months. Tourism will remain low but it will start to push up the reserve amounts as it trickles into the country.
It would be much better if they were honest about how long they will be shutdown. This will be longer than 30 days. Many cruise lines have already said they will shutdown for at least 60 days. Cupid's Cay in Eleuthera has a 60 closure. This is not only going to be for 30 days. It will be much longer.
This project will never come to fruition. The cruise ship industry is dead in the water right now and will take years to come back to last years record highs.
After corona passes (months from now), no one will be getting on cruise ships. The cruise industry will not recover for many years. That part of our economy is gone for a long time to come. Flights are also coming in close to empty now. The stop over passengers are going to be gone for a long time too. This is going to be an economic catastrophe for the Bahamas. Prepare for some dark times.
newcitizen says...
Actually you are very wrong Birdie. Quarterly imports average about $682MM per quarter, given the lower need for hotel and cruise ship supplies and an economy with lowered spending by the general public will decrease that quarterly average. This is on top of the fact that imports for Abaco apart from building materials are down and many American second home owners rebuilding will send materials that do not impact the foreign reserves. With the depressed economy we will like have over a year of foreign reserves without any new input. Mind you we can't run the foreign reserve to 0 but also that no expert expects this situation to last a full year and most expect it to be behind us in 6 months. Tourism will remain low but it will start to push up the reserve amounts as it trickles into the country.
On Governor: $2bn reserves enough to overcome virus
Posted 17 March 2020, 3:59 p.m. Suggest removal
newcitizen says...
It would be much better if they were honest about how long they will be shutdown. This will be longer than 30 days. Many cruise lines have already said they will shutdown for at least 60 days. Cupid's Cay in Eleuthera has a 60 closure. This is not only going to be for 30 days. It will be much longer.
On Taxi chief: 'Never so close to annihilation'
Posted 17 March 2020, 3:49 p.m. Suggest removal
newcitizen says...
That is such a sad sign. I hope enough others will have more resolve in the face of this.
On Bahamas feels effects of global coronavirus crisis
Posted 17 March 2020, 3:19 p.m. Suggest removal
newcitizen says...
Because we live in a society where our medical history is private and protected. Even in a crisis there are values that we need to uphold.
On Bahamas feels effects of global coronavirus crisis
Posted 17 March 2020, 3:18 p.m. Suggest removal
newcitizen says...
I'm so thankful that you are not in charge
On ‘We are all in this together’ PM unveils action plan to protect us from COVID-19
Posted 16 March 2020, 5:51 p.m. Suggest removal
newcitizen says...
During a time of crisis, it's always good to have naysayers offering no help at all. Save your criticisms for when we get through the other side.
On ‘We are all in this together’ PM unveils action plan to protect us from COVID-19
Posted 16 March 2020, 5:46 p.m. Suggest removal
newcitizen says...
This project will never come to fruition. The cruise ship industry is dead in the water right now and will take years to come back to last years record highs.
On Royal Caribbean: PI is not what you think
Posted 14 March 2020, 10:12 a.m. Suggest removal
newcitizen says...
After corona passes (months from now), no one will be getting on cruise ships. The cruise industry will not recover for many years. That part of our economy is gone for a long time to come. Flights are also coming in close to empty now. The stop over passengers are going to be gone for a long time too. This is going to be an economic catastrophe for the Bahamas. Prepare for some dark times.
On President Trump says top cruise ship companies stopping trips from the US
Posted 14 March 2020, 10:09 a.m. Suggest removal
newcitizen says...
Anyone can buy shares in APD, they are a publicly listed company.
On Port eyeing $4m-$6m 'one-stop shop' spend
Posted 20 November 2019, 10:51 a.m. Suggest removal
newcitizen says...
So he is either incompetent for getting swindled for 8% extra on the contract or corrupt for stealing 8% extra on the contract.
If it's not theft it's stupidity, but I'm leaning towards theft.
On Our Dutch ships deal was transparent, says Christie
Posted 18 November 2019, 4:13 p.m. Suggest removal