Hi Carey

Turnquest said that the government is borrowing around $500m (half a billion) from the IMF and other multilateral organizations.

Not sure if any of this can actually trickle down to Freeport.

First we need to pay the monthly civil service bill, remember, no one has lost their jobs or taken a cut in pay.

After payroll I doubt their is anything left to help private industry.

....but make sure the poor man pays their VAT on time. Any luck with getting the water situation sorted out after Dorian?

I think we need to make conch a full Ministry, with its own Minister, Permanent Secretary, Budget, staffing, cars, boats for conch inspection, travel and entertainment budget to visit foreign lands where conch grows.

Anyone heard from Renward?

yes, governments just borrows the money from the ppl.

the local banks are full of money because no one has anything to do with their money under lock down.

hey, hold on one sec.

what happened to da $1.1m yinna nassau ppl done get from da IDB for sponging in long island last year?

https://ewnews.com/long-island-to-expan…

i hope some a dis gravy money trickle down to long island. tank god long islanders are indepenedent and don't depend on nassau like dem ppl in Marsh Harbour, Ragged Island and Freeport.

Marsh Harbour still don't have lights, water in freeport bad bad.

Actually the government is running with no cash flow issues. Don’t mind Turnquest crying poor mout.

Besides VAT and customs duty which they are still getting, cruise ship and hotel taxes are being offset by cash from Government Bonds issued to Bahamians and international loans at rock bottom interest rates from the imf, oecd and the World Bank.

Bahamians and Banks are all to ready to lend the Government their money at 5%. Beats having to lend it out to non existent Bahamian businesses!

So the Bahamian government doesn’t need to lay off staff albeit many government departments like the international mail at the post office, Bahamas Air and Ministry of Education are either shut down or close to shut down.

Minnis already said he don’t believe in letting go staff.

This is an excellent blog. Wish the conversation could continue and not scroll down where everyone looses interest.

My second point. We just don't have any good statistics and the insurance industry and the government, for what ever reason, has no interest in collecting or distributing the data.

Key questions are

(1) how much money is the insurance industry collecting from 3rd party insurance which is a complete nonsense. Insurance should be no fault and all parties covered. Otherwise we are all self insuring.

(2) how much is the insurance paying out in claims for 3rd party insurance

(3) how many ppl have 3rd party insurance

(4) how many cars are on the road which have zero insurance?

purposefully

An industry of the future!

The rating agencies have downgraded all the cruise lines as junk.

Anyone who thinks that ships filled with 5,000 ppl and zero social distancing will be back in business on October 1 is wishful thinking.

So what happens to the $150 million in bonds? Bay Street shut down and laying off. So we will build another Baystreet along the shore?

I never heard so much nonsense in my life.

Almost as bad as the $650 million BEC bond to be paid by consumers who are not paying electricity bills.

Don't forget the hotel freeport being bought by a cruise ship which is going bankrupt.

Meanwhile, the government has no economic plan....except lock down.

Excellent point!

I've been paying $400 a year for almost 4 decades for third party.

If we cancel this insurance the savings on over 100,000 cars would be $40 million a year.

....but maybe ppl are already saving because of the 19% drop in insurance coverage!