The financial reserves of The Bahamas were increased to 2 times the amount that it was under the FNM administration.

Now how some 'a yinna could say dis gub'ment 'aint doin nuttin for da economy, I don't know!

The financial reserves of The Bahamas were increased to 2 times the amount that it was under the FNM administration.
Now how some 'a yinna could say dis gub'ment 'aint doin nuttin for da economy, I don't know!

And the answer is:

What is 9/11 and its devastating financial effects on the entire global community?

Part two of that answer for a bonus is:

What is the Atlantis phase III financials combined with the Exuma developments that were already underway?

Yeah, and you obviously don't look at the ENTIRE picture. Reactionary indeed.

The financial reserves of The Bahamas were increased to 2 times the amount that it was under the FNM administration.
Now how some 'a yinna could say dis gub'ment 'aint doin nuttin for da economy, I don't know!

So why they talking with two mouth!:what: Why when the unions demand their pay increases the government BROKE, but when its time to do some horn tooting," we double our reserves"!?:biggie: DON'T BE AN IDIOT! THEY THINK THEY TALKIN TO BRAINLESS PEOPLE. OBVIOUSLY THEY GAT YOU FOOLED!:D

The financial reserves of The Bahamas were increased to 2 times the amount that it was under the FNM administration.
Now how some 'a yinna could say dis gub'ment 'aint doin nuttin for da economy, I don't know!

I'll give the PLP props on the proposed investments. But someone can easily ask why through all the investments has umemployement stayed at 10.2%, and the average salary fallen. The no new high schools, and crime, and the D+ average, illegal immigration, staying away from the numbers issue, 2.50 gas promise etc etc etc.

I have no issue with the PM. I think he is an admirable man, and he appointed a smart person as Minister of State for Finance. But I doubt certain members of his cabinet.

And the answer is:
What is 9/11 and its devastating financial effects on the entire global community?
Part two of that answer for a bonus is:
What is the Atlantis phase III financials combined with the Exuma developments that were already underway?
Yeah, and you obviously don't look at the ENTIRE picture. Reactionary indeed.


Dont' forget about BSIX

the economy is in de hole .... we owes more than we makin .. spending more on crap that is useless ... they need to stay home and pray more and spend less on church services and ignant looking outfits .. no jobs at the min of employement but $150 a week gardener and maid, prices gone up two fold, and until they get some law back on the streets and cut back on the number of vehicles here, i aint votin .. foe nun of dem ..

the economy is in de hole .... we owes more than we makin .. spending more on crap that is useless ... they need to stay home and pray more and spend less on church services and ignant looking outfits .. no jobs at the min of employement but $150 a week gardener and maid, prices gone up two fold, and until they get some law back on the streets and cut back on the number of vehicles here, i aint votin .. foe nun of dem ..

Ya gotta vote man, even if you write ya own name on da ballot and put a "x" beside it.

Exercise ya right.

To see some seriously good governance over the upcoming years, we gotta put the pressure on both parties! Give them no room for mistakes, and question everything they say - keeping everyone on their toes. That's the way it should be.

So why they talking with two mouth!:what: Why when the unions demand their pay increases the government BROKE, but when its time to do some horn tooting," we double our reserves"!?:biggie: DON'T BE AN IDIOT! THEY THINK THEY TALKIN TO BRAINLESS PEOPLE. OBVIOUSLY THEY GAT YOU FOOLED!:D

As a gub'ment employee and union member, i can tell you that Fred never said that they didn't have the money to give pay increases. That was media spin..But rather they were not prepared to pay the amounts that the union was demanding, in view of the other demands on our treasury - which btw has nothing to do with our external reserves!

bahamian unions suck, they should all be dismantled and the leaders jailed for treason.:p

bahamian unions suck, they should all be dismantled and the leaders jailed for treason.:p
Alas Rory, we have struck common ground!

The financial reserves of The Bahamas were increased to 2 times the amount that it was under the FNM administration.

Now how some 'a yinna could say dis gub'ment 'aint doin nuttin for da economy, I don't know!

You mean that .bs financial reserves have increased 2x in spite of the PLP. If the FNM had looked sharp and remained in power, the .bs financial reserves may well have had a tenfold increase.

...and anyway, may i inquire as to where you obtained your information?

I find it more than passing strange that an obviously educated person like yourself, slips into some back-slapping, uneducated, ghetto-like slang.

State your real purpose, sir!

You da Man! Right Friggin' On! :dancer: :dancer: :dancer:

So why they talking with two mouth!:what: Why when the unions demand their pay increases the government BROKE, but when its time to do some horn tooting," we double our reserves"!?:biggie: DON'T BE AN IDIOT! THEY THINK THEY TALKIN TO BRAINLESS PEOPLE. OBVIOUSLY THEY GAT YOU FOOLED!:D

Well said!

The financial reserves of The Bahamas were increased to 2 times the amount that it was under the FNM administration.
Now how some 'a yinna could say dis gub'ment 'aint doin nuttin for da economy, I don't know!


The Central Bank Reserves have indeed jumped to close to $800 million in August. They have since declined to around $680 million due to insurance outflows but they are still historically at an all time high.

However the figure is deceptive. The Central Bank is the holder of the foreign reserves. They are a sum total of dollar assets held by the Bank. Unfortunately, only $200 million or so is real cash. The rest is government notes.

The government when it runs a deficit has two choices. It can go to international banks, as the FNM did, or it can borrow domestically. This government borrows domestically. If it has to borrow say $100 million US, it goes to the Central Bank and writes a note. The Central Bank by law cannot refuse a government note. (The government also borrows money from the NIB).

When the Central Bank gets the note, it is worth $100 mil. They will eventually collect on it, so it goes on the books as a $100 million US dollar asset, and as such, that figure is added to the reserves figure.

So in fact, most of the rise in the reserves is due to government debt. The economy is actually sinking. The 3.5% growth of the GDP (Gross Domestic Product) will mostly be due to inflation because of the rise in the cost of fuel and energy.

Three weeks ago, Minister of State for Finance James Smith said that unless the Bahamas reforms its tax structure, it will go broke in a few years. The reform will be in the form of a Value Added Tax (VAT).

The economy of the Bahamas is really in the tank. Perry Christie has been unable to get out of the hole. Every year in power, he has increased by the national debt by a minimum of $200 million dollars. We are really going down hill.

The Central Bank Reserves have indeed jumped to close to $800 million in August. They have since declined to around $680 million due to insurance outflows but they are still historically at an all time high.
However the figure is deceptive. The Central Bank is the holder of the foreign reserves. They are a sum total of dollar assets held by the Bank. Unfortunately, only $200 million or so is real cash. The rest is government notes.
The government when it runs a deficit has two choices. It can go to international banks, as the FNM did, or it can borrow domestically. This government borrows domestically. If it has to borrow say $100 million US, it goes to the Central Bank and writes a note. The Central Bank by law cannot refuse a government note. (The government also borrows money from the NIB).
When the Central Bank gets the note, it is worth $100 mil. They will eventually collect on it, so it goes on the books as a $100 million US dollar asset, and as such, that figure is added to the reserves figure.
So in fact, most of the rise in the reserves is due to government debt. The economy is actually sinking. The 3.5% growth of the GDP (Gross Domestic Product) will mostly be due to inflation because of the rise in the cost of fuel and energy.
Three weeks ago, Minister of State for Finance James Smith said that unless the Bahamas reforms its tax structure, it will go broke in a few years. The reform will be in the form of a Value Added Tax (VAT).
The economy of the Bahamas is really in the tank. Perry Christie has been unable to get out of the hole. Every year in power, he has increased by the national debt by a minimum of $200 million dollars. We are really going down hill.


This is deep Lurker. Really deep, I just had to quote it.
I wasn't aware that the Central Bank could not refuse the gov't note.
I thought that was why 'they' were giving Mr. Francis such a hard time.

So basically, the PLP liability/obligation = US receivable(s)
Because of the IMF warning, they're scared to borrow internationally and go over the 40% figure. Perry looks adamant on protecting that "A" grade from Moodys. I don't quite understand how the gov't will go broke though? We won't be able to pay back the interest and principal on the borrowing with simply customs and other taxes, is that what you mean?

See Lurker, you have me thinking too hard on this topic.
(But seriously, I scared to invest in anything right now.)