Is It Not A Fact? – The Bahama Journal

Posted on 19 June 2017. by Jones Bahamas

The Clifton Review

The Clifton Review is a bi-weekly column that examines the question of the Clifton project along with the evolution of the war between two billionaires, the links to unsavory characters, the use of the courts for personal agendas, the involvement of a political party, and the attacks on the Government of The Bahamas.

We covered the start of this war with articles describing the battle over easement rights, the mysterious burning of a home, the blocks to rebuilding, and countless questionable court filings. This series of articles asks the needed questions and presents the arguments in full.

By P.J. Malone

Apparently, in a presentation to Waterkeeper Alliance, Save The Bays Director and attorney Fred Smith expressed that Save The Bays members are constantly denigrated, as was reported in a Tribune article.

The Commonwealth of The Bahamas does not have a history of denigrating organizations. As a country, we have always welcomed and allowed free speech and a difference of opinion, especially on governance.

However, never in our history have we come across an organization whose activities are so hypocritical, persecutory, and subversive; it is these types of activities and some of its members and associates behavior that have certainly resulted in its denigration.

For fear of being seen as denigrating Save The Bays, lets simply list the facts to explain this point fully:

Hypocritical

A Witch-Hunt

Subversive

Who does that? Only individuals with no sense of allegiance to The Bahamas can speak so disparagingly with no ounce of compunction or sense of duty to protect their countrys good name.

In essence, Save The Bays has spent a lot of time being devious, underhanded, deceitful, dishonest, and downright subversiveto subvert or overthrow, destroy, or undermine an established or existing system, especially a legally constituted government or a set of beliefs.

Maybe its not the entire organization or all of its members. But if you let yourself be represented by an individual who engages in these activities, you have to accept that it will define all of you.

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Is It Not A Fact? - The Bahama Journal

There’s Something for Everyone in The Bahamas – TravelPulse (blog)

PHOTO: Dive boats docked at Club Med Columbus Isle, Bahamas. (photo by Eric Bowman)

Were halfway through 2017 and if The Bahamas havent been calling your name, they ought to be now.

Bahamas Ministry of Tourism details the various activities for people of all ages to enjoy life in the Caribbean.

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For starters, the perfectly clear blue water will take your breath away. Sit and relax at any beach in the Bahamas and you know your stress will melt away.

After all, you are in paradise!

If you love sensational food, youll want to check out Santanas Grill Pit in Williams Town, Exuma. Located on the beach, youll have a stunning view while you feast on authentic island food.

And speaking of Exuma, you have to make the trek out to go swim with the pigs. These pigs basically have their own island, and they gladly welcome humans here to feed them. Just be smart and feed them good stuff, no junk and no alcohol, please!

READ MORE Go Under the Sea for a Sensational Exploration in The Bahamas

If alcohol is your thing, youll love visiting Sip Sip in Harbour Island. And per the Bahamas blogger, Town and Country Magazine has described Harbour Island as the Nantucket of The Bahamas.

If youre a nature lover, head to Freeport, Grand Bahama to be mesmerized by The Garden of the Groves. The Bahamas isnt just the beach, so come explore the beautiful nature they help preserve here.

For those travelers who love history, check out the underwater plane wreck at Rokers Point Settlement in Exuma, as well as the pirate steps at Clifton Heritage Park in Nassau.

Other great historic spots can be found in Bimini, where travelers can see the Dolphin House and take a dip in the Healing Hole.

For more information on Bahamas Ministry of Tourism, check out their blog here.

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Art is a veteran travel writer.

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There's Something for Everyone in The Bahamas - TravelPulse (blog)

‘Massive miracle’: Charlotte-area woman recounts vicious shark attack – Charlotte Observer


Charlotte Observer
'Massive miracle': Charlotte-area woman recounts vicious shark attack
Charlotte Observer
The 32-year-old Concord woman's defiance came two weeks ago during a life-threatening battle with a shark off the coast of the Bahamas. Johnson would eventually lose much of her right arm, but she had surgery at Carolinas Medical Center last Friday ...
Kids' Lemonade Stand Raises Money For Mom Attacked By SharkWFMY News 2

all 2 news articles »

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'Massive miracle': Charlotte-area woman recounts vicious shark attack - Charlotte Observer

Minnis wants Grand Bahama to be ‘renowned’ for duty-free shopping … – Bahamas Tribune

By RICARDO WELLS

Tribune Staff Reporter

rwells@tribunemedia.net

PRIME Minister Dr Hubert Minnis yesterday detailed his administrations tourism strategy, highlighted by plans to introduce several initiatives to re-energise Nassau and rebrand Grand Bahama as a renowned duty-free shopping centre.

In an address at the Bahamas Hotel and Tourism Associations board of directors and membership association meeting, Dr Minnis committed his administration to a myriad of schemes and proposals he said were geared toward diversifying the nations tourism product.

Referring to all of the multinational resorts, boutique hotels, fishing lodges, water sport operations and ground transportation companies currently operating, Dr Minnis suggested that further diversification of these enterprises can increase the countrys overall profit margin.

The Killarney MP insisted that this style of diversification will play a major role in the master plan his administration intends to roll out over the course of its term in office.

Alluding to the setbacks and shortfalls brought on by Baha Mar over the last two years, Dr Minnis said his administrations plan will look to strengthen the links between foreign direct investment and home-grown businesses, instead of hinging opportunities primarily on the backs of the former.

Dr Minnis went on to pitch what he called an incentive framework for entrepreneurs, a system he said would facilitate local and international access to capital, encourage joint ventures among private interest; facilitate the improvement of business advisory and encourage the cultivation of tools to stimulate Bahamian entrepreneurship in tourism.

He said it was time for bold thoughts on how Bahamians could own or be involved in multiple dimensions of tourism.

Twenty-first century travellers seek more than the proverbial sun, sand and sea. They travel in search of unique and authentic experiences. Ours is a richly textured culture, our history, music, food, dance, art, craft and our folkways are distinctly different. We must fully capitalise on our culture and heritage to add a more vibrant visitor experience, stated Dr Minnis.

He later added that the formation of joint ventures will be a central approach to the execution of projects, inclusive of the restoration and maintenance of historic sites and the designation of iconic locations.

Of these sites, Dr Minnis specified Clifton Heritage National Park in New Providence, Mount Alvernia in Cat Island and the Columbus Monument in San Salvador and plantation ruins on other islands.

Dr Minnis said the country is nowhere near monetising the number of cruise ship passengers coming to the Bahamas, and as such, he said he views these heritage experiences as a prime avenue for expansion.

My government is committed to completing the National Museum of the Bahamas for the benefit of Bahamians primarily, but also as a heritage experience for tourists. Cruise passengers throughout the world visit museums. Imagine if New Providence can provide more of these experiences, Dr Minnis said.

Among his recommendations for initiatives in New Providence Thursday, Dr Minnis called for the refurbishment of Festival Place, the creation of anative food market in the Over-the-Hill community, the construction of a maritime museum at the Lowell J Mortimer Maritime Institute and the development of heritage and eco-tours throughout the country through the use of signage, on par with the Blue Plaque system used in the United Kingdom.

I suggest that we develop the Aqua Plaque, which can be used as a heritage marker in the Bahamas. Bahamian designer Carla Whittingham has already designed a prototype, which is cast in appropriate material for our climate. The Aqua Plaque should be utilised with other signage to note the significance of the heritage site in question and to recall noted Bahamians associated with the site.

Dr Minnis said he plans to direct the Ministry of Tourism and the Ministry of Youth, Sports and Culture to collaborate on making the scheme a reality as soon as possible.

Of the proposed native food market, Dr Minnis said that the markets physical structure would be adorned with Bahamian art and will act as a major economic empowerment and revitalisation project for that community.

Our native food market will welcome scores of Bahamians and tourists. It will provide business opportunities and allow many Bahamians to sell their goods and products. The native food market will have a variety of foods and products for sale from ice cream to potato and cassava bread, tamarind sauce, local teas and other Bahamian treats.

Lastly, of the refurbishment of Festival Place, the prime minister said plans are in place to convert the welcome centre into a commercial and recreational space conducive to retail and restaurant businesses.

He added that the move would help to re-energise the city of Nassau and provide more engaging interactions for cruise passengers and more economic opportunities for Bahamians.

Dr Minnis roughly 30-minute address Thursday spoke primarily to re-build the brand identity of Grand Bahama, while incentivising investments on that island.

The Killarney MP said it is the goal of his administration to make the island of Grand Bahama a renowned duty-free shopping centre for residents and millions of visitors from around the world.

Dr Minnis said the government is prepared to roll-out a workable plan for tourism in Grand Bahama that would position the city of Freeport and the district of Lucaya as a maritime, sports and wellness destination; East Grand Bahama as an eco-tourism mecca and West Grand Bahama as a site for culture.

Dr Minnisalso spoke ofhow his government would look to facilitate the economic empowerment of the Family Islands through grants of Crown land, assistance with technical and marketing support and particular tax exemptions for specified periods.

He said his administration intended to invest in the modernisation of Family Island infrastructure with the goal of providing clean potable water, good roads, modern airports and docks and will incentivise locally owned airlines to establish local hubs for inter-island transportation through strategic partnerships.

Additionally, he said the government will actively seek to increase travel from both traditional and non-traditional airlift markets.

In the long-term, Dr Minnis said his government will work towards introducing legislation to make it attractive for international filmmakers to produce cinematic productions at a fraction of the cost comparable to other leading off-site film locations.

He also called for the registration of hospitality products such as vacation rental homes, which are currently operating outside of regulations, to level the playing field and ensure national standards of safety and quality.

Dr Minnis said his government will also look to build linkage between agriculture and tourism, focusing efforts at Bahamas Agriculture and Marine Science Institute on the production of select products for local and export markets; privatise produce exchange, provide land, supplies, equipment and business services to Bahamian farmers to support the industry.

The government also plans to introduce tax incentives and concessions to encourage Bahamian farmers and farming cooperatives throughout the country to promote sustained production and packaging initiatives and to ensure the continuous supply of quality products.

Additionally, Dr Minnis said his administration intends to augment the resources of tourism police to ensure the safety and security of visitors, noting that it would be the only way tourism could survive.

The Bahamas Hotel and Tourism Association meeting was held at the Hilton Hotel.

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Minnis wants Grand Bahama to be 'renowned' for duty-free shopping ... - Bahamas Tribune

‘My whole arm was in its mouth’: Woman loses arm in shark attack in the Bahamas – Washington Post

An ordinary snorkeling excursion in a shallow reef in the Bahamas turned horrific last week when a shark attack cost a North Carolina mother of three much of her right arm.

It just felt like I had bumped into something, so I just casually turned to my right to look my whole arm was in its mouth, just floating there, Tiffany Johnson told ABC affiliate WTVDfrom her Concord, N.C., home. I kept trying to yank my hand back and the last time I yanked, he had cut it clean off so I was able to actually get free, Johnson told WSOC.com.

Johnson, 32, and her husband were on the last stop of a Caribbean cruise June 2 when the attack occurred and Johnson said her ability to stay calm, along with her religious faith, enabled her to survive. Doctors were unable to save her arm, which was amputated just below the elbow.

[From the archives: 17-year-old girl dies from shark attack while surfing, with her mother and sisters looking on]

She felt her arm, like a small tug on her arm, her husband, J.J. Johnson, told WBTV. She casually looked over to her right to see what it was and she was staring face-to-face at the shark.

What was believed to be a tiger shark attacked fast, as Johnson was watching her swim from a boat. When she realized what was happening, she tried to pull her arm out of the sharks mouth and thats when the shark clamped down tighter, he said. They struggled there for a second and as she tried to pull away, the shark bit her arm off.

When he heard her screams, Johnson said he jumped into the water.

[Blood in the water: Four dead, a coast terrified and the birth of modern shark mania]

I looked over there and I just saw blood all over in the water, all around her, he said. Shes saying, Help me, help me, Jesus and shes praying as shes swimming back.

Johnson said she felt thistangible peace on me and it was so thick, that I was just calm.She is home now afterwhat she hopes will be her third and final surgery.

Who cares about a limb? she told WBTVs Sarah-Blake Morgan. Its a limb and Im here.

The incident left Johnson thankful to be able to share this story and I hope, and I know, that its going to change peoples lives because you cant hear this story and not see God in it.

Here's what you need to know about shark attacks and how to fight back if you're trapped. (The Washington Post)

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'My whole arm was in its mouth': Woman loses arm in shark attack in the Bahamas - Washington Post

Bahamas Scores Extra Points With Redskins Alumni And Fans – Bahamas Tribune

NASSAU, Bahamas -- The three-day inaugural Doug Williams and Legends Weekend held in Nassau, Bahamas, June 8-11 was a tremendous success and players and Washington Redskins fans are already looking forward to next year's event.

The event is in partnership with the Islands of The Bahamas and aims to promote the islands while giving fans of the Redskins a chance to experience the country. The goal is to attract as many of the hundreds of thousands of Washington Redskins fans as possible.

"The main focus of sports tourism is for us to find new avenues to get what we call heads in beds in The Bahamas and having this Doug Williams Celebrity Weekend is a great way to get the word out about The Bahamas. We were able to work with a local marketing group who, along with the Redskins, put together a package to create an event for the players and some of the fans just to enjoy some fun in The Bahamas," said Jeffrey Rodgers, senior manager of sports tourism for Bahamas Tourist Office in Washington.

The weekend included a welcome reception and Junkanoo social at The Pier, a golf tournament at Baha Mar's Royal Blue golf course, a city tour, a golf and cheerleading clinic with Doug Williams and the Legends and a Sunset Cruise.

Doug Williams, Redskins Super Bowl XXII MVP, said he's grateful for the opportunity to spread the word of what The Bahamas has to offer.

"Well, I think number one when you talk about The Bahamas you think about tourism. You want to do some things here that you can go back and share what you did, the fun that we had here and hopefully we can get more people to come down and visit The Bahamas and enjoy all the good that life has to offer," Williams said.

Williams added that it is his wish that the inaugural weekend will get more people interested so that the event grows next year, and he feels confident it will.

"I think we had about 90 people that came down to enjoy. We had people come from Louisiana and a lot of people come from Denver, Houston, people from Washing DC area. Hopefully we can build this next year and the year after that so it can be one of the weekends that a lot of people want to take part in."

Dexter Manley, first time visitor and Redskins alumni, said The Bahamas is a great venue and the event should happen year-round.

"I think it's a great place, they should do this year-round. Doug Williams was MVP of the Superbowl XXII and I think there's some sort of relationship with the tourism. I've never seen such a beautiful place and beautiful people so this is God's country to me," Manley said.

Jeff Bostic, Redskins alumni, said the event could not get any better than it was. "If it was any better, I would not know how to act. Beautiful weather, beautiful beaches, beautiful water, friendly people, great restaurants. If you want to come to a place that has it all, it's The Bahamas," Bostic said.

Richard "Doc" Walker, alumni of the Redskins, said although he has visited The Bahamas before, he was looking forward to the waters.

"I'm looking forward to the water, the beautiful water, the fact that you can see your toes in the water and it hasn't been polluted and it's been respected. I'm also looking forward to the great food, the people, we don't have this and that's why it's special," he said.

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Bahamas Scores Extra Points With Redskins Alumni And Fans - Bahamas Tribune

Jet Ski Operator Sexually Assaults Canadian Tourist in Nassau, Bahamas – Cruise Law News

A jet ski operator in Nassau, Bahamas sexually assaulted a Canadian woman near Paradise Island yesterday afternoon, according to the Nassau Tribune.

The crime reportedly occurred after 1.30 P.M. on a cay near Cabbage Beach. The newspaper indicates thata jet ski operator took the young woman (in her twenties) on a ride from Cabbage Beach to a cay off Paradise Island where he sexually assaulted her.

An employee of the Atlantis resort told the newspaper that he observed the woman, shortly after the incident, crying and shaking on the beach. She indicated that the jet ski operator took her to a nearby cay where he raped her. The news account says that the other jet ski operators"... dont like him because he has a bad reputation. He has been accused before of groping a woman on the beach."

Over a half-dozen women havereported being assaulted by jet ski operators on Cabbage Beach in Nassau, Bahamas. The U.S. Embassy has warned of this specific danger several times. A year ago we wrote that, according to the U.S. Embassy,jet ski operators sexually assaulted five tourists in just 18 months.

Bahamian officials previously discussed using police and Royal Bahamas Defence Force officers to patrol the beaches on Paradise Island to address the crime problem, but such plans never materialized.

Many passengers cruise to Nassau under the illusion thatit is a tropical paradise. But the truth is that Nassau has been the subject of more critical crime warning that any other cruise destination in the world. The Bahamas has a far higher rate of rape and murder than any U.S. port where passenger embarked for a cruise. The cruise lines don't issue warnings before selling cruises to Nassau but typically warn their guests of the high crime rate there only during the cruise.

The Nassau Tribune has written about the rape of tourists by jet ski operators before.

The National Task Force for Gender Based Violence, Bahamas had the worst record for rapes in the Caribbean. The report stated that "while the worldwide average for rape is 15 per 100,000, The Bahamas has an average of 133 (per 100,000)." The rate in the U.S. Is somewhere around 28.6 per 100,000. There are almost 5 times as many rapes in the Bahamas as in the U.S. per capita rate.

Have a comment? Please leave on below or join the discussion on our Facebook page.

Photo credit: TampAGS, for AGS Media - CC BY-SA 3.0, commons / wikimedia.

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Jet Ski Operator Sexually Assaults Canadian Tourist in Nassau, Bahamas - Cruise Law News

Exclusive: PDVSA leaves Bahamas oil terminal, expands in St Eustatius – sources – Reuters

HOUSTON Venezuelan state-run oil company PDVSA is moving millions of barrels of oil from a Bahamas storage facility after terminating a contract with the owner, U.S. Buckeye Partners LP, according to internal data and sources close to the decision.

Buckeye and PDVSA had tried to resolve payment delays and other frequent problems that stalled some shipments, the sources said. But PDVSA decided to shift its oil to the Statia terminal, operated by U.S. NuStar Energy LP, in the neighboring island of St. Eustatius.

The termination is another sign of how PDVSA's deteriorating finances have strained its relationship with business partners. The state-owned company has struggled to maintain its tanker fleet on the water and to keep operations running to maximize income for the country's most important export: oil.

PDVSA's contract with Buckeye had included storage for up to 6 million barrels of crude and fuel oil. The contract was due to expire in December, but PDVSA decided to end the lease in advance and seek some $10 million in overpayments, according to a source from the Venezuelan company.

Buckeye and PDVSA did not respond to requests for comment. NuStar said it would not discuss customer activities at its terminals.

Since 2016 Buckeye had intermittently suspended PDVSA from moving its stored oil out of the terminal - the Caribbean's largest - over monthly payment delays, according to sources from the companies and Thomson Reuters Trade Flows data.

In late August, PDVSA renewed a 2014 contract with NuStar to secure its presence in Statia for three more years starting in March. The state-run company is now paying some $2.3 million per month to lease 5 million barrels of crude storage excluding extra charges, according to a document seen by Reuters.

PDVSA's supply and trade department last year also approved an option to lease a single buoy mooring in St. Eustatius and extra storage capacity for up to 4.3 million barrels of refined products.

"We are now consolidating blending and storage operations in St. Eustatius," the PDVSA source said.

NuStar's Statia terminal has capacity to store up to 13.03 million barrels of crude and products. It also has six mooring locations, blending and transshipment facilities.

In 2011, PDVSA announced a plan to increase storage capacity nearly fourfold in three years to handle new production of blends made from the Orinoco Belt's crudes. Since then, it has rented facilities in the Caribbean, but payment problems have recently affected its operations in several islands.

PDVSA operates the 335,000-barrel-per-day Isla refinery in Curacao and an adjacent terminal. It also owns the BOPEC storage terminal in Bonaire, leases the Aruba refinery and its terminal through its subsidiary Citgo, and has stakes in refineries in the Dominican Republic, Jamaica and Cuba.

Buckeye's Bahamas terminal was owned by PDVSA until 2008, when it was sold to investment firm First Reserve Corp. In 2010, Buckeye bought 80 percent of the facility, which can store up to 26.2 million barrels of oil.

Buckeye also owns terminals in St. Lucia and Puerto Rico.

(Reporting by Marianna Parraga in Houston, with additional reporting by Jarret Renshaw in New York; Editing by Marguerita Choy)

SEATTLE General Electric Co said on Wednesday it will combine its power and energy distribution businesses to create its largest unit by revenue as the top executive at GE Power announced his retirement after failing to win the conglomerate's CEO job.

Morgan Stanley CEO James Gorman said Saudi Arabia could be a "major opportunity" for the firm as the country unveiled plans for oil giant Saudi Aramco's $100 billion initial public offering and introduced a series of reforms to attract foreign capital in 2015.

Link:

Exclusive: PDVSA leaves Bahamas oil terminal, expands in St Eustatius - sources - Reuters

Statement from The Bahamas Ministry of Tourism & Aviation – GlobeNewswire (press release)

June 13, 2017 15:16 ET | Source: Bahamas Ministry of Tourism

Nassau, Bahamas, June 13, 2017 (GLOBE NEWSWIRE) -- The Royal Bahamas Police Force is investigating an alleged sexual assault of a Canadian visitor that occurred on Monday, June 12. The report indicates that shortly after 1:30 pm, the victim alleged that a male jet ski operator took her on a ride from Cabbage Beach to Athol Island off Paradise Island where he sexually assaulted her. The male jet ski operator then returned the woman to Cabbage Beach. The Royal Bahamas Police Force is aggressively pursuing this matter. The jet ski operator is in police custody and is said to be assisting them with the investigation.

The Ministry of Tourism and Aviation wishes to acknowledge the gravity of this situation, and to condemn this heinous crime. The safety of our residents and visitors is paramount.

Efforts have been made to implement stronger management of the jet ski industry in recent years, but more must be done. Combined efforts by the public and private sectors will be stepped up to ensure that our visitors can enjoy our water sports attractions without fear for their safety or well being. The Ministry of Tourism and Aviation is committed to working together with the Ministry of Transport to take extreme measures to implement stringent regulations for the water sports industry.

The Ministry of Tourism and Aviation can assure you at this juncture that The Bahamas does have an active policing program in place, particularly at beaches and tourist spots. A visible police presence and monitoring of select sites with CCTV are key components of our program to keep guests of The Bahamas safe. Not the least of these deterrent efforts is the commitment of the Royal Bahamas Police Force and the Royal Bahamas Defence Force to continually improve and strengthen their programs to ensure that no similar incidents affect future visitors.

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/ead993e3-03e5-49d4-8111-e3daff5de009

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Statement from The Bahamas Ministry of Tourism & Aviation - GlobeNewswire (press release)

In the Bahamas, a long-awaited opening for Baha Mar resort – MyAJC

The Bahamas resort Baha Mar has taken more than 10 years to open, but on April 21, the $4.2 billion, 1,000-acre development on a half-mile of beachfront in Nassau finally debuted at least, in part.

Baha Mar comprises three hotel brands Grand Hyatt, SLS Hotels and Rosewood Hotels & Resorts for a total of 2,300 rooms. Grand Hyatt, with 1,800 rooms, is the largest, and, with nightly rates in the mid-$300 range, its also the most affordable. The 300-room SLS, with starting rates at upward of $500 a night, will open later this year, and the 200-room Rosewood, the most upscale of the three with room prices from $700, is planning to open next spring.

But accommodations are only one component of Baha Mar: The project also includes a 100,000-square-foot casino; 30 luxury retailers; a golf course; 11 swimming pools; and a spa with 24 treatment rooms. The casino, the golf course, seven of the swimming pools, a part of the spa and a handful of retailers and restaurants opened in April; the rest of the amenities are scheduled to be introduced over the next year.

Large-scale flashy resorts, in the vein of those in Macau and Las Vegas, may not be an anomaly today, but the drama leading up to Baha Mars opening sets it apart from the bunch: The Nassau-based development group BMD Holdings, led by chief executive Sarkis Izmirlian, announced plans for the project with much fanfare in late 2005.

Construction did not begin until early 2011 and was funded through a $2.45 billion loan from the Export-Import Bank of China, along with an $850 million investment from Baha Mar and a $150 million investment from the contractor, China Construction America.

A scheduled opening in May 2015 never happened. With the project more than 90 percent complete, Baha Mar declared bankruptcy, saying that China Construction America had repeatedly delayed the venture by missing construction deadlines. The construction company issued its own accusations of mismanagement, and a bitter fight ensued.

Around 2,000 employees, most of them Bahamians, were out of jobs, and Baha Mar was at a standstill.

Its revival began last November, when the Hong Kong-based conglomerate Chow Tai Fook Enterprises signed an agreement to buy the resort from the Export-ImportBank of China for an undisclosed sum. Chow Tai Fook was already familiar with Baha Mar because it owns Rosewood Hotels & Resorts, a brand that was set to be one of the projects hotel operators before the bankruptcy filing.

Graeme Davis, the president of Baha Mar, said the company was able to open Baha Mar so soon after agreeing to buy it because the Export-Import Bank had invested $700 million to finish building the resort over the last 18 months.

Baha Mar is one of the largest resorts to open in North America, according to Zachary Sears, a senior economist at Tourism Economics, which is part of the research firm Oxford Economics.

According to estimates from a 2013 report from Oxford Economics, Baha Mar could contribute around 12 percent to the gross domestic product of the Bahamas once the resort is complete.

Touches intended to be over-the-top are a trademark of such mega-resorts.

Golfers, for example, can rent top-of the line clubs, including handmade Itobori clubs from Japan, which sell for $8,000, according to Sean Cracraft, the director of golf at the resorts Royal Blue Golf Club.

Restaurants include the opulent, red-hued Shuang Ba, where top chefs from China will visit and cook, and Katsuya, an upscale sushi chain that started in the Los Angeles area.

A big attraction may be the six-minute nightly show at the fountains and lakes where water, illuminated with multicolored lasers, shoots 110 feet into the air.

Davis said that much of Baha Mars appeal was expected to come from its emphasis on Bahamian culture and the local environment.

The childrens activities, for example, include visits to the propertys aviary to learn about indigenous hummingbirds and butterflies, along with classes on Bahamian crafts.

Bahamian art is another focus: The property will display 8,500 pieces paintings, sculptures, ceramics and photographs by established and emerging artists from the islands.

Delayed hotel openings are common, but Baha Mars trajectory is unusually long, said Reneta McCarthy, a senior lecturer at the School of Hotel Administration at Cornell University who is familiar with the resort. Theres been a lot of buzz about this project and drama surrounding it for years, she said. All eyes will be on it to see how it fares.

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In the Bahamas, a long-awaited opening for Baha Mar resort - MyAJC

Lucas Hernandez released from jail after holiday in the Bahamas – Into The Calderon

Lucas Hernandez was arrested on his way home from a holiday in the Bahamas for breaking a restraining order that was put in place following a domestic violence incident in February. Hernndez and the woman in question - his girlfriend - returned from their holiday and passed through passport control only to have an alarm go off on the computer that alerted the police.

The 21-year-old spent the night in Moratalaz jail, according to a report on El Transistor relayed by AS, and he must now wait as the case got sent to the criminal court, as they have a better understanding on the previous case.

Hernandez was given a 500-metre restraining order against Amelia de la O.L and told not to communicate with her. Both parties also received a community service sentence and a ban on holding a weapon for a year and a half.

They have reportedly reconciled as the holiday together indicates and we await further developments on the case.

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Lucas Hernandez released from jail after holiday in the Bahamas - Into The Calderon

Bahamas ‘Reputation’ In Danger Without $400 Million Borrowing – Bahamas Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Bahamas' "financial reputation" will be in peril without "emergency borrowing" of $400 million, with the 'junk' downgrade having exposed the Government to a $70 million cash demand.

K P Turnquest, minister of finance, told Tribune Business that Standard & Poor's (S&P) action earlier this year had left the Government on the wrong side of a "hedge" or derivative transaction relating to some of its borrowings.

The loss of 'investment grade' status triggered an immediate demand by the lenders for $150 million in extra collateral, with the Government having to provide "a minimum of $70 million" by the first week of July - the first seven days of its 2017-2018 Budget year.

Mr Turnquest did not provide in-depth details on the 'hedge', other than to reveal that the Bahamas' creditworthiness downgrade by S&P resulted in the Government "immediately" facing demands for extra loan security "in excess of $150 million".

"While this does not represent an expenditure, it does represent a use of cash which has to be funded by revenues," he told the House of Assembly yesterday. "The Ministry of Finance was partially successful in negotiating temporary waivers, but the obligation has not gone away.

"The Government is now required to provide a minimum of $70 million by the first week of July to meet this collateral call."

Mr Turnquest warned that the lenders' demands for extra security would increase should the Government suffer further downgrades, and disclosed that exiting the 'hedge' was "not recommended" as it would require a $120 million-plus payment.

When questioned by Tribune Business about the transaction, he replied: "That relates to a hedge on a loan. If I recall correctly we have to come up with $70 million to collateralise one of these derivatives transactions."

The lenders' demands were revealed to help explain, and justify, why the Minnis administration is seeking Parliamentary authority to borrow $400 million to cover unfunded claims dating from the 2016-2017 fiscal year. Without it, the Bahamas will be in jeopardy of defaulting on some of its loan obligations.

Besides the $70 million 'hedge' fall-out, Mr Turnquest said the $400 million was required to cover the Treasury's $161.284 million payments backlog, representing transactions that required funding.

And, completing its financial exposure, the Government also faces $130.781 million in unfunded commitments - representing promises to pay vendors once the goods or services have been delivered.

"This figure is not exhaustive, as we are aware of further unrecorded commitments," Mr Turnquest said. "While the Government is not insolvent, it is clear that it has a liquidity challenge and, as a result, employees and vendors have had to wait an inordinate time for payment.

"Many civil servants have had to suffer challenges with deductions [for loan payments] not being paid in a timely manner to the bank and other lending agencies.... We faced an immediate cash flow shortage that caused many payables and salary deductions to be delayed as we robbed Peter to pay Paul, so to speak. "

Mr Turnquest's comments illustrate how the Government's financial challenges are negatively impacting individual Bahamians and households, plus the wider economy, with public officials unable to meet their obligations through no fault of their own.

They also highlight, in a very real sense, how downgrades to the Bahamas' sovereign creditworthiness have a direct impact on the Government's fiscal position and end up diverting scarce resources away from essential public services.

"The emergency borrowing authority was the only prudent thing the Government could do to protect the financial reputation of the Bahamas," Mr Turnquest emphasised.

He then blasted the former Christie administration for engaging in what was described as "sheer fiscal insanity" by allowing the recurrent deficit - the gap between revenues and the Government's fixed-cost spending - to balloon to as high as $498 million in the current 2016-2017 fiscal year.

Mr Turnquest likened this to a family having to borrow to pay for its weekly grocery and other bills, a situation that would eventually lead to insolvency. He argued that the Christie administration had "spent like drunken sailors" while giving "lip service" to the need for fiscal consolidation, pointing to how far away it was from its previously forecast $80 million GFS surplus for 2017-2018.

The Minister recalled how he and the former St Anne's MP, Hubert Chipman, upon hearing that projection questioned "what world are these people living in", given that the then-government was continuing to increase spending while also raising taxes on Bahamians.

Acknowledging that Hurricane Matthew's impact had contributed to the expected $500 million deficit for 2017-2018, Mr Turnquest said the figure had been inflated by the former administration "entering into many egregious commitments on the eve of the general election".

He added that new spending commitments were emerging every day, and said: "Commitments and contracts were signed between May 8-9, millions of dollars in commitments.

"It is evident that the blatant fiscal recklessness of the other side in the run-up to the general election was a major contributing factor. When they look back at the 8-9, they will have to explain to the Bahamian people why they entered into these contracts for services, employment and extension of contracts for people on contracts that should have ended."

Mr Turnquest cited 41 persons in Acklins who were hired on May 9, a day before the election. While his claims were challenged by Opposition MP, Glenys Hanna-Martin, the Minister said they were "calling, trying to find out how they will get paid and when.

"What is egregious is the previous administration gave these people the impression they would be long-term employees, when the contract for those people is three months," he added. "They have these people on three month contracts, and when that is up this government will have to make a decision."

Highlighting the growing gap between the Government's spending and income, Mr Turnquest said recurrent revenues had increased as a percentage of GDP by 5.4 percentage points - from 17.6 per cent in 2011-2012 to a projected 23 per cent in 2017-2018.

Yet over the same period, recurrent spending had risen by 8.6 percentage points to a forecast 28.6 per cent in 2017-2018. This, Mr Turnquest said, had resulted in the Government's recurrent fiscal deficit growing from 2.4 per cent of GDP in 2011-2012 to 5.6 per cent for the upcoming fiscal year.

Unless this was corrected, the Minister warned that the Government will "have to borrow ever more to cover everyday expenses", creating "an ever-growing vicious cycle that could begin to feed on itself continually if not corrected".

"It points out why we have to break this borrowing cycle," Mr Turnquest said.

Original post:

Bahamas 'Reputation' In Danger Without $400 Million Borrowing - Bahamas Tribune

‘Super 60 Showdown/Hot 100 Bahamas Showcase’ Starts June 16 – Bahamas Tribune

By RENALDO DORSETT

Tribune Sports Reporter

rdorsett@tribunemedia.net

THE basketball prospect showcase culture in the country continues to develop and International Basketball Academy Bahamas looks to become one of the leaders in the field as its event grows in stature.

IBA Bahamas and Get Me Recruited (GMR) will host the 2017 "Super 60 Showdown/Hot 100 Bahamas Showcase" at the Kendal Isaacs Gymnasium June 16-18.

Friday's opening session will be hosted 4-8pm followed by 9am to 5pm sessions on Saturday and Sunday.

The Super 60 segment is geared towards the top seniors in the country and the Hot 100 is for the top juniors among both boys and girls.

The two groups collaborated last June when they hosted the inaugural edition of the showcase and scores of players came out to seize advantage of the opportunity. The showcase featured some of the most highly touted Bahamian high school players based both locally and abroad.

IBA Bahamas has impacted the local basketball scene in its brief history led by its director Denycko Bowles, who also serves as the head coach of the Doris Johnson Mystic Marlins. It is the first international branch of the IBA programme.

The showcase featured players from junior high schoolers to post grad unattached. In addition to the summer programmes, IBA has participated in the Summer of Thunder and travelled to AAU tournaments in the US.

Lamont Taylor, the CEO of GetMeRecruited.com said the partnership is aimed at bringing greater exposure to talented players from the Bahamas.

Get Me Recruited is a Raleigh, North Carolina-based company whose goal is to connect high school players and college coaches through the mission statement: "To be personally involved in the collegiate basketball recruiting process one recruit at a time."

"We're looking to build a bridge between America and the Bahamas because there is so much talent here. The athleticism here is a step above what we've normally seen. The athleticism in these videos and in these games is well above what we're used to. If no one sees them they don't have a chance to offer them scholarships and get them to the states. We want to provide a platform where these kids can showcase their skills, get coaches looking at them and provide opportunities," he said following the 2016 showcase.

Training at the showcase also featured Tim Fields, a skill instructor at John Lucas Enterprises.

A busy summer for IBA Bahamas will also include its 4th Annual Elite Skills Summer Camp. The camp, to be hosted June 26 to July 14 at the Bahamas Academy Gymnasium, Wulff Road, is open to both boys and girls ages 5 to 18.

The camp will feature a concentration on offensive and defensive critiquing and performance, advanced ball handling and footwork.

Registration for both the showcase and the camp can be found at http://www.ibabahamas242.com and more information can be found via email - info.ibabahamas@gmail.com, or coach Bowles at 466-0049.

Read the rest here:

'Super 60 Showdown/Hot 100 Bahamas Showcase' Starts June 16 - Bahamas Tribune

Go Inside Kim Kardashian’s Big Bahamas Bash for Kanye West’s 40th Birthday (Despite the Social Media Blackout) – Bravo (blog)

In the great tradition of members surrounding the Kardashian-Jenner clan (considerKylie Jenner's over-the-top 19th birthday in the Bahamaswith an all-star squad),Kim Kardashian just went all out for Kanye West's island destination40th birthday party.

Kim flew a whole squad of friends and family naturally to the Bahamas to celebrate Kanye's big 4-0... which is technically today: June 8.

A post shared by Kim Kardashian West (@kimkardashian) on Jun 6, 2017 at 4:30pm PDT

According to a source close to the couple, they "had a great time on vacation in Baker's Bay [on the island of Great Guana Cay in the Bahamas]," ET reports. Specifically,E! News reports the family spent four full days atBaker's Bay Golf and Ocean Club, where they reportedlyrented a villa home on the grounds.

Also according to the source in ET, "They spent six days at a private home and were able to go totally off the map."

And going off the map from time to time is among Kim's publicly stated new priorities, following the Paris robbery.

The source told ET the trip involved "no work or social media" for the parents of two just family time, pool time, and relaxation. In the spirit of both true relaxation, and personal protection of both physical and emotional varieties, the family asked for a social media blackout. (Recall that Kanye, too, had a tumultuous last year including psychiatric hospitalization.)

But Kim did share a couple of isolated snaps on social media, including a shot with her kids on a private plane.

But more on their lodgings: The couple took over the home of Mike Meldman, according to the ET report. He's the third owner of Casamigos Tequila, along with Rande Gerber and new-twin-dad George Clooney and that certainly explains why sparse details available from the trip always seemed to include tequila... and by that particular brand name.

cheers!

A post shared by Kim Kardashian West (@kimkardashian) on Jun 7, 2017 at 11:58am PDT

Kim and sister Kourtney have both stayed at the home before.

Jet Set is Bravo's launch pad for the most extravagant, luxurious, and unforgettable travel experiences. Ready for takeoff? Then Like us on Facebook to stay connected to our daily updates.

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Go Inside Kim Kardashian's Big Bahamas Bash for Kanye West's 40th Birthday (Despite the Social Media Blackout) - Bravo (blog)

Bahamas Climbs To No.38 In Latest Beach Soccer World Rankings Poll – Bahamas Tribune

The Bahamas in action during the Beach Soccer World Cup.

By RENALDO DORSETT

Tribune Sports Reporter

rdorsett@tribunemedia.net

WITH their performance at the 2017 FIFA Beach Soccer World Cup, the Bahamas moved up nine spots in the latest edition of the world rankings.

The Bahamas is ranked at No.38 with a total of 435 points, in the latest edition of the poll released yesterday.

Prior to the tournament, the Bahamas stood in the No. 47 spot in the 2016 world rankings with 287 points. Under the leadership of head coach Alexander Soares, the team finished with a 1-2 win-loss record.

In game one, they suffered a hard-fought 3-2 loss to familiar foe Switzerland, followed by a lopsided 10-1 loss to Senegal.

The Bahamas made history when they became the first Caribbean team to win a match at the FIFA Beach Soccer World Cup with their 4-1 victory over Ecuador to close out play in Group A.

In addition, the tournament featured another first as FIFA fielded a select All-Star side to host the Bahamas in an exhibition match. The FIFA All-Stars won that match 6-3.

The Bahamas is also ranked No.5 in CONCACAF behind Mexico, El Salvador, Panama and the USA.

Following the tournament, Team Bahamas captain Gavin Christie told FIFA.com that he hoped the performance left a lasting legacy and great source of pride for the future of beach soccer in the country.

"It's a dream come true for a small nation like the Bahamas to host an event of this magnitude on our shores," he said.

"It's just the beginning for the Bahamas. It's a building block and a very good start. It's creating a new culture for beach soccer in the country. The fans love it and they want more. They're already asking when the next tournament is and they see that it's a sport that the Bahamas can perform in at the highest level. This can be huge for the Bahamas."

The tournament also produced a shakeup among the top teams in the world ranking.

Brazil returns to the top overall team in the rankings after they claimed their fifth Beach Soccer World Cup title, their first since 2009.

Former champions, Portugal, fell one spot behind to No.2, followed by this year's surprise story Iran at No.3 after they finished third at the BSWC.

Russia is ranked No.4 followed by 2017 runners-up Tahiti who returned to the top five. Switzerland remained in seventh, eighth-place Paraguay swapped places with Japan, who now sit ninth, while UAE end May in the top 10, having narrowly missed out on a place in the FIFA Beach Soccer World Cup quarter-final.

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Bahamas Climbs To No.38 In Latest Beach Soccer World Rankings Poll - Bahamas Tribune

Bahamas Well Representedat Key Cruise Industry Show – Bahamas Tribune

The Bahamas was well represented at the Cruise Lines International Association's (CLIA) Cruise360 Conference and Trade Show, which recently took place at the Greater Fort Lauderdale Convention Centre in Florida.

The Bahamas used the show to forge links with key travel agents, cruise line executives and industry representatives through a series of networking events, educational workshops and trade show exhibitions.

Glenda Johnson, the Bahamas' Florida-based director for cruise and maritime development, said: "It's crucial to educate agents so that they can better sell to their clients."

CLIA is the world's largest cruise industry trade association.

The cruise industry surpassed 2016 passenger projections, reaching 24.7 globally, up from a projection of 24.2 million.

Passenger numbers are again forecast to grow this year to 25.8 million.

According to the cruise industry, 72 per cent of cruise sales are generated by travel agents.

In the luxury cruise segment, 93 per cent of worldwide cruise sales are generated by travel agents.

The demand for cruising has grown 62 per cent over the past two years, and eight of 10 agents in the US expect sales to increase in 2017.

Continued here:

Bahamas Well Representedat Key Cruise Industry Show - Bahamas Tribune

Turnquest Under Fire Over His Link To Sky Bahamas – Bahamas Tribune

ENGLERSTON MP Glenys Hanna Martin speaks in the House of Assembly.

By SANCHESKA DORSETT

Tribune Staff Reporter

Sdorsett@tribunemedia.net

ENGLERSTON MP Glenys Hanna Martin yesterday criticised Finance Minister Peter Turnquest for allegedly failing to disclose his interest in Sky Bahamas to Parliament after the government approved duty exemptions for the repair and maintenance of aircraft in the 2017-2018 Budget.

Addressing her colleagues in the House of Assembly on Wednesday, Mrs Hanna Martin said because these concessions "could impact the financial interest of persons in the House," Mr Turnquest was "obliged" to reveal his interest in the company when the debate began.

"I want to raise the concern of a potential conflict of interest of favourable concessions of this budget, Mr Speaker, that might impact the financial interest of members and the rules require that you have to declare that out in the open," Mrs Hanna Martin said.

"The minster of finance declared in his communication on page 50, page 50 speaks about the duties that are being exempted and what I found interesting about this is, in his description he said 'providing duty exemptions for equipment and machinery specifically designed for groundwork and the service of cruise ships and sea vessels' but in fact the actual provision speaks to sea craft and aircraft, air and sea services.

"You have to have an awareness that these peculiar concessions could impact the financial interest of persons in the House. So you have exemptions and there are multiple items for aircraft in this budget and I support incentivising the aviation sector but this talks about the catering for the aircraft, the tyres and so on. So, Mr Speaker, I believe that the minister should clarify whether this impacts him financially... We are obliged when we debate to declare it. It is a part of transparency. It is an obligation. I am saying he ought to have disclosed it and that is what you normally do, if you have interest in something you are debating before the House, you disclose it. I am saying he admits he has an interest, we have tax concessions for aircraft and it ought to be something he put on the table."

In response, Mr Turnquest said before the election he disclosed all his interests to the relevant authorities because he had nothing to hide. He also admitted that he did not realise the aircraft exemptions were in the budget until he read them in the House of Assembly because he had "very little to do" with the changing of anything in the budget.

Mr Turnquest also said Mrs Hanna Martin's implication that he somehow amended the legislation to benefit himself is "misleading" and dangerous to his reputation.

"It is no secret in this place or in public that I do have an interest in Sky Bahamas airline. I have said throughout my budget that this minister of finance has had very little to do with changing anything in the budget, as a matter of fact, it may be interesting to note, that I didn't recognise that was in there until I was reading it," Mr Turnquest said.

"And so when she suggests that this minister of finance somehow amended or proposed an amendment to the duty rates to benefit him, it is a complete and utter lie and that is a strong word. It is intentionally misleading and it is dangerous to me and to my reputation. Secondly, the proposal to eliminate duties on aircraft was made by that side when I was sitting over there, not by me."

Mr Turnquest applauded the former Christie administration for reducing the aircraft duties because he said it will create "the opportunity for an industry that has not been able to rise to the level of its potential".

Read more here:

Turnquest Under Fire Over His Link To Sky Bahamas - Bahamas Tribune

Inside Kanye West’s 40th Birthday in Bahamas With Kim Kardashian and Their Kids: ‘No Work or Social Media’ – Entertainment Tonight

Playing Inside Kanye West's 40th Birthday in Bahamas With Kim Kardashian and Their Kids: 'No Work or Social Media'

"No More Parties in L.A." for Kanye. Even for his 40th birthday!

A source close to Kanye West and wife Kim Kardashian West tells ET that the couple "had a great time on vacation in Baker's Bay [on the island of Great Guana Cay in the Bahamas] for his birthday."

MORE: Kim Kardashian Shares Sweet New Photo of Son Saint With Her Grandmother M.J.

"They spent six days at a private home and were able to go totally off the map," the source adds. "No work or social media, it's just what their family needed. Kanye brought his friend, Don Crowley, along with his family. The children had a great time. They hung around at the pool most of the day."

The source also tells ET that they stayed at the home of Mike Meldman, the third owner of Casamigos Tequila with Rande Gerber and George Clooney. Kim has stayed at the locale before, as well as sister Kourtney Kardashian.

EXCLUSIVE: How Kim Kardashian and Kanye West Have Changed Since Robbery and Hospitalization

Kanye officially turns 40 on Thursday, and Kim's only posts leading up to the big day so far have been a throwback of her and her husband, aptly captioned, "Almost your birthday," as well as a sweet plane pic with the couples children, 3-year-old North and 18-month-old Saint, apparently leaving the family birthday-cation.

Almost your birthday

A post shared by Kim Kardashian West (@kimkardashian) on Jun 6, 2017 at 10:05pm PDT

A post shared by Kim Kardashian West (@kimkardashian) on Jun 6, 2017 at 4:30pm PDT

Kanye has taken a sabbatical from public events in the wake of his and Kim's traumatic past year, which included his wife being robbed at gunpoint in Paris, as well as his hospitalization shortly thereafter. So it's no surprise that this birthday was decidedly more low-key. It's a stark contrast to past birthday's Kim has thrown the rapper, such as his 38th, where Kim rented out Staples Center in Los Angeles, organizing a star-studded pickup basketball game that included John Legend, Justin Bieber, and several NBA stars -- from James Harden, to Kobe Bryant, to Magic Johnson and more.

MORE: Kanye West Showered With 39th Birthday Praise by His Kardashian-Jenner Family -- See All the Love for Yeezy!

As fun as that must have been, we have to imagine a tropical getaway with his wife and two young children made his 40th that much more special!

Happy birthday, Kanye!

Watch the video below for more on the couple's low-key year.

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Inside Kanye West's 40th Birthday in Bahamas With Kim Kardashian and Their Kids: 'No Work or Social Media' - Entertainment Tonight

Bahamas Tops Caribbean On Data Centre Expansion – Bahamas Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Bahamas has been ranked among the top six nations in the Latin American and Caribbean region for the development of data centres, although high electricity costs remain a major obstacle to further growth.

An Inter-American Development Bank (IDB) report, titled Data Centres and Broadband for sustainable economic and social development, ranked the Bahamas as the Caribbeans leader in developing such facilities, placing it alongside regional giants such as Brazil and Argentina.

Using its own Data Centre Development Index (DCDI), the report said: According to DCDI, the top seven Latin American and Caribbean countries for the construction of data centres are Argentina, the Bahamas, Brazil, Chile, Costa Rica, Panama and Uruguay. Unsurprisingly, recent data centre investments are occurring in most of these countries.

Data centres are used to store, manage and distribute data on behalf of hundreds of companies, centralising their information technology (IT) operations and equipment. They are built to withstand natural disasters, and provide security against fire and theft, and are seen as a vital cog in developing knowledge-based economies - a key target for the Bahamas.

Given the increasing role IT is playing in economies and societies, the IDB report said: Data centres, where information is stored and processed, are essential for the development of the ICT ecosystem.

The speed of networks, security of the critical infrastructure and information, and the quality of public services, data and systems all depend on the availability and quality of data centres. Due to their vital role, the design and development of these centres is a priority for both private stakeholders and governments in Latin American and Caribbean (LAC) countries.

The report indicates that the Bahamas has a strong foundation on which to build a knowledge-based economy, ranking the Bahamas among six of 26 Latin American and Caribbean countries who show very high values for economic development and connectivity.

Argentina, Brazil, Chile and Uruguay have very high levels of fundamental infrastructure, while the Bahamas and Panama show moderate levels of that pillar, the IDB report and its authors state.

The level of data centre infrastructure is very high for Panama, high for the Bahamas, Chile and Uruguay, moderate for Argentina, and low for Brazil. Finally, values for the CIP (Critical Protection Infrastructure) pillar are very high for Bahamas, Brazil, Chile, and Uruguay, high for Argentina, and low for Panama.

Assessed on five criteria, the Bahamas was ranked fourth out of 26 for data centre development, behind only Uruguay, Chile and Brazil, but ahead of Argentina, Panama, Costa Rica and all Caribbean rivals.

This nations weakness was identified as the relatively high cost of electricity, given that data centres and communications networks require significant amounts of energy to operate. Operational costs as a percentage of communications company revenue was also high in the Bahamas.

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Bahamas Tops Caribbean On Data Centre Expansion - Bahamas Tribune

Moody’s Shows Bahamas Has ‘No Room For Mistakes’ – Bahamas Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

A prominent governance reform campaigner warned yesterday that the Bahamas has "no time for mistakes" on fiscal reform, with Moody's having expressed alarm at the deterioration unveiled in the 2017-2018 Budget.

Robert Myers, a principal with the Organisation for Responsible Governance (ORG), told Tribune Business that this nation was "absolutely on the radar" of both credit rating agencies - Moody's and Standard & Poor's - reiterating that he, too, was shocked by the vast gulf in the fiscal forecasts between the Minnis administration and its predecessor.

"When one administration says that it is going to narrow the deficit and it doesn't happen, it just makes us all look stupid," he said. "That's not good from a number of standpoints; there are no ifs, ands or buts about it.

"The reality is that we have to do better with managing our fiscal affairs.

"We have to take this stuff very seriously or we are going to face some very hard socio-economic times."

Moody's recently warned that the Minnis administration's much-revised fiscal forecasts, and its planned $722 million borrowing, show this nation's fiscal strength was "much weaker" than it had bargained for.

The ratings agency wrote-off its previous projection that the Bahamas' direct government debt-to-GDP ratio would stabilise below 70 per cent, instead estimating that this will continue to climb through the 2019-2020 fiscal year - in contrast with the Government's forecast that it will peak near 73 per cent in 2017-2018.

Mr Myers said that while the Minnis administration appears to be saying the right things, how effective it can be remains to be seen. "The new administration is saying the right things for the most part," he agreed.

"The question remains how effective they can be in terms of making it happen, and does it have enough people who understand the changes that need to be made in order to make that happen.

"We really don't have time for mistakes.

"We need people in there that are going to do what they say and act responsibly.

"There needs to be a big shift in the culture of governance in this country."

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Moody's Shows Bahamas Has 'No Room For Mistakes' - Bahamas Tribune