Daily Archives: August 26, 2020

Cryptocurrencies have now officially made a debut on the balance sheet of a central bank; could this lead to an entirely new cryptoasset reporting framework?

In Pictures via Getty Images

Recently it was discovered that Central Bank of the Bahamas had included its newly created cryptocurrency, known as the Sand Dollar, on its balance sheet during April 2020. Although the amount that was actually listed was only equivalent to $48,000, the implications of this inclusion are profound.

This revelation comes on top of the news of just how comprehensive blockchain projects are at the Federal Reserve Bank of Boston, where over 30 blockchains are in various phases of testing and evaluation for possible implementation.

Cryptocurrencies have moved quickly from the fringe to the mainstream conversation, taking the form of decentralized financing, stablecoins, and most recently, central bank digital currencies (CBDCs). Even as the ecosystem has rapidly accelerated, however, there is still ambiguity as to how exactly different types of cryptocurrencies should be treated from a reporting and disclosure perspective.

This ambiguity exists even as industry associations and regulators, including the Association of Internal Certified Professional Accountants (AICPA), the Financial Standards Board (FSB), the Bank for International Settlements (BIS), and the Public Company Accounting Oversight Board (PCAOB) have begun to issue thought leadership on the subject. Despite these recent publications, in addition to the numerous opinions issued by other securities and market regulators, there is not a definitive guide or framework for how cryptocurrencies should be valued and reported.

The Sand Dollar amount might have only been for the equivalent of $48,000, but with central banks across the globe moving quickly to develop and beta-test versions of central bank digital currencies, it is only a matter of time until the financial impact scales materially. Given that, it is worthwhile taking a look at a prevailing opinion for reporting as well as an alternative that might make sense for certain organizations.

Mark-to-market. Marking assets value to market, on the surface, seems to make logical sense as well as to be reflective of market realities. Marking assets to current fair market value already occurs for certain financial instruments, and in some cases entire asset classes, so this is not an abstract concept. This prevailing opinion by practitioners and firms, classifying cryptocurrencies as intangible assets, also incorporates this concept of adjusting value based on market changes.

That said, the price volatility (which does not have to be good or bad) associated with cryptocurrencies and the alt-coin market specifically tempers enthusiasm for this approach. Price swings might make for great headlines and commentary, but can cause headaches for merchants and individuals seeking to use cryptocurrencies as a medium of exchange. Coupled with the lack of price transparency for some thinly traded crypto, marking to market might not be as simple as it might appear.

Addressing the volatility issues is actually one of the primary selling points of stablecoins and CBDCs, and arguably has been a driving force behind the rapid growth and investment in these assets.

A new asset class. An alternative to what is basically trying to make a square peg fit into a round hole - classifying cryptocurrencies as intangibles and marking to market - would be to create an entirely new asset sector for the cryptocurrency space. Creating a new asset class might seem like an extreme reaction to the growth of cryptocurrencies, but upon closer examination it might make more sense than it initially appears.

Taking a look at cryptocurrencies, it is relatively clear that these financial instruments do not fit neatly into any existing accounting classification. Depending on the cryptocurrency that is examined, it may or may not have characteristics of equity securities, interest paying instruments (similar to preferred stock), interest bearing deposits, intangible assets, or something akin to airline miles or reward points. Put another way, the very innovative spirit that has catapulted the cryptocurrency space to its current prominence has also led to a relatively messy reporting conversation.

By creating a new asset categorization for cryptoassets, organizations and policymakers will both have an opportunity to start fresh and to actually create reporting and disclosure standards that make sense for blockchain and cryptocurrencies. For example, cryptocurrencies could be classified by use case, or be reported depending on trading volume and market capitalization. There might even be different reporting obligations depending on what cryptocurrency is being analyzed.

Think of the following for a moment. Generally speaking, the cryptocurrency space can be broken down into three areas, especially for non-expert users. There are cryptocurrencies such as bitcoin that are completely decentralized and untethered to underlying assets. In addition, there are stablecoins that are more centralized (issued by an organization) and are connected to some external asset. Finally, there is the growing field of CBDCs issued and governed by a nation state or central bank and (most likely) connected to the fiat currency of that nation.

Does it make sense for such radically different instruments to be categorized and treated the same?

That question should be top of mind for organizations, users, and regulators as these different iterations of cryptocurrency continue to develop, compete, and gain traction in the marketplace.

Read the original post:

Blockchain, The Bahamas, And Future Directions In Cryptocurrency Reporting - Forbes

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

The Bahamas is at risk of losing 80 percent of its landmass in the next eight decades due to the current pace of global warming,according to Bahamian T Oneil Johnson Jr.

I want to make this abundantly clear, The Bahamas is perhaps one of the most vulnerable countries to sea-level rise, he stressed, as he spoke on the topic, Climate Change - the Reality of Our Warming World to the Rotary of Club of Grand Bahama via Zoom.

Mr Johnson - who has a Masters Degree in Foreign Impact of Hurricanes and Climate Change on Education said Climate Change is real and threatens The Bahamas, the Caribbean and other small countries.

He noted that sea level is projected to rise by as much as one metre by 2100. Eighty percent of The Bahamas landmass is less than one metre above sea level, he said.

The Bahamas is at risk of losing 80 percent of its landmass by 2100 if sea level continues to rise the way that it is, Mr Johnson warned.

Sea level rise, which we are hearing more and more about in The Bahamas, is perhaps one of the most vexing concerns for small island developing states because most of us are very low-lying.

Countries, such as Guyana is at risk of losing 90 percent of its landmass if sea levels were to rise one metre, and Guam, the US Territory is already experiencing the impact on sea-level rise, Mr Johnson pointed out.

The US, he added, is also at risk of losing 40 percent of its landmass in Florida.

Mr Johnson said greenhouse gases caused by pollution in the atmosphereare responsible for global warming, which is causing glaciers to melt around the world.

He noted that countries such as China and the US are mainly at fault, with the former accounting for more than one-quarter of global emission of greenhouse gases, and the latter 14 percent, while the rest of the world contributes less than 22 percent of emission.

Mr Johnson indicated The Bahamas emission is 0.001 percent. So obviously, we are not causing global warming and we are not causing climate change, he said.

Most of the information on climate change can be obtained from the Inter-Governmental Panel on Climate Change (ITCC), which is an international agreement containing information regarding CC, said Johnson, who noted that Bahamian Dr Dell Thomas is a contributing author to the panel on CC.

It is unbelievable to know the state that the world is in, said the senior officer in the Ministry of Disaster Preparedness, Management ,and Reconstruction in Grand Bahama.

Other threats of climate change, he mentioned are ocean acidification and more intense hurricanes.

Referring to Hurricane Dorian as one of the strongest recorded in the Atlantic basin in modern history, Mr Johnson said the increase in ferocity and strength of these systems as they pass through The Bahamas is a serious concern for climate scientists.

No longer are we seeing weak Category Three storms like Jeanne, Wilma and Ike - we are now seeing these explosive Category 5 storms, like Dorian and Irma. And it begs the question, is Dorian going to be our new reality? I think last year was a humbling experience for The Bahamas and it shows us we must really take serious action, he said..

Climate change also impacts all sectors of the economy from Agriculture, Tourism, and Education.

Caribbean countries are experiencing extreme drought more than ever before, such as Barbados, St Kitts and Nevis, St Lucia, St Vincent, and the Grenadines, said Johnson.

He stated that the Tourism sector is going to be crippled by the sun, sand, and sea.

According to exit surveys, tourists are now complaining about the heat in Caribbean countries. This is, of course, very concerning because we are expected to see an increase in temperature,and tourism is the lifeblood, the bread and butter of many economies in our region, he said.

In terms of education, Mr Johnson said ifThe Bahamas has more hurricanes children are going to be out of the classroom for more extended periods.

Mr Johnson said that all is not lost as there are things that can be done to mitigate the effects of climate change, including reducing greenhouse gas emissions by requiring countries like America, Japan, European Union by resorting to more environmentally friendly means of doing business, with renewable energy.

Adaptation by reducing The Bahamas vulnerability and enhancing resilience is another weapon in the war against climate change, according to Mr Johnson.

This could range from building sea walls, which I am totally against, to research, preventative measures, and passing legislation and environmental laws, mangrove rehabilitation and restoration, he said.

Mr Johnson commended the government for the establishment of the Ministry of Disaster Preparedness, Management, and Reconstruction and Disaster Reconstruction Authority. It is the first institution of its kind in the region, he said.

View post:

Global warming's huge threat to Bahamas - Bahamas Tribune

Shore Thing Escapes has partnered with Sea the Shore and Duffy Box & Recycling to provide aid to the Bahamas.

NASSAU, Bahamas (PRWEB) August 25, 2020

Shore Thing Escapes has provided coronavirus relief to Bahamian citizens. Still reeling from Hurricane Dorian in 2019, the islands have had to face this new threat and implement ever-evolving strategies for containing the virus as the months have passed.

Due to a lack of medical facilities, Bahamian Prime Minister Dr. Hubert Minnis has suspended all commercial air travel with the United States and ordered any arriving visitors to go into a two-week quarantine, after which they would need to test negative for the virus.

These events have once again stopped almost all tourism and hindered other industries in various ways. Those who work in the tourism industry are suffering greatly. Despite these circumstances, Shore Thing Escapes are optimistic that things can take a positive turn, largely thanks to the efforts of Sea the Shore and Duffy Box & Recycling, who have inspired them to lend a hand as well. To start their efforts, they have sent two shipments containing 4 gallons of eco sanitizer and 1,000 masks to be distributed to those who need them. In addition, they have sent a large amount of food and baby supplies. They are committed to continuing their efforts, and encourage anyone else with the means to donate to the people of the Bahamas to do so.

About Shore Thing EscapesShore Thing Escapes is a tour excursion company in the Bahamas. They offer boat tours and the opportunity to swim with pigs and sharks, as well as interact with other wildlife. A portion of their proceeds are spent on helping marine life. They are committed to the maintaining the health and beauty of the environment they operate in, which has led to their direct partnership with Sea the Shore

About Sea the ShoreSea the Shore is an organization dedicated to cleaning and supporting the wellbeing of the ocean, its inhabitants, and the coastal communities that depend on it. With an emphasis on educating others, Sea the Shore knows the importance of our future generations and therefore places a large focus on children.

In a followup to efforts in providing relief to survivors of Hurricane Dorian, as well as aid in the transport and evacuation of citizens, Sea the Shore has continued support efforts in the Bahamas and surrounding islands during the COVID-19 crisis. They have distributed PPE such as masks and dispensers to those who need them, in addition to an immense amount of baby supplies and food. Through education, support, cleaning, and more, Sea the Shore strives to ensure that the ocean and its surrounding communities continue to thrive for future generations.

About Duffy Box & RecyclingDuffy Box & Recycling is an industrial recycling company committed to the prosperity of an environmentally conscious infrastructure. They have been delivering their used boxes to some of Americas biggest companies since 1930. To date, they have saved over 35,000,000 trees.

For more information on Shore Thing Escapes and Sea the Shore, please contact Katie Moran at info@shorethingescapes.com or info@seatheshore.com. You can also reach her at 301.639.5210.

Share article on social media or email:

View post:

Shore Thing Escapes Provides Coronavirus Aid to the Bahamas - PR Web

The Bahamas government says it will soon outline new measures aimed at reviving the economy in light of the coronavirus (COVID-19) pandemic even as it announced a relaxation of the lockdown measures put in place to curb the spread of the virus, particularly in New Providence.

We are all living through the worst economic crisis in more than 70 years. I will give a major national address with emphasis on the economy in short order. We are working on a revised detailed phased plan to boost jobs and economic growth domestically, even as we plan for the reopening of our vital tourism sector, which is dependent on conditions at home and abroad, Prime Minister Dr. Hubert Minnis said during a news conference on Monday night.

He said reminded that early in the pandemic he had established an Economic Recovery Committee (ERC) and that it is providing the government with advice and recommendations to position the country to emerge from the economic crisis, as rapidly as possible.

Minnis said that the ERC will deliver its full report in September as planned and that even as it is working to do so it has provided to my office several interim recommendations and considerations to help focus on the immediate situation.

It is essential to reopen the domestic economy as soon as possible, with the reopening of the external economy to follow as soon as feasible given the economic conditions overseas. We are seeking to ensure that reopening is subject to established COVID-19 protocols.

Minnis said that the government agencies and private sector stakeholders must commit to greater adherence and compliance to established safety standards.

Based on the ERCs recommendations, we are preparing a strategy to approve all pending viable private sector and construction projects that are currently under consideration, and to fast track those approvals.

The approval and execution of these projects will generate immediate employment and business opportunities for Bahamian contractors and trade professionals.

Minnis said that his administration is accelerating the execution of the budgeted public infrastructure and construction projects, and will pay special attention to the smaller scale projects that benefit multiple smaller contractors.

This will allow for increased employment in many vulnerable segments of the economy and benefit a number of Bahamian small firms, he said, adding that the government is also looking at ways to provide special support for the creative community, and further support for Bahamian small businesses and entrepreneurs to provide them with the resources and expertise to be able to showcase and deliver their products to the world.

As with every other country, there will be no quick fix to this grave global economic situation. But provided we all are prepared to move out of our collective comfort zone and undo the constraints that have too often defined us for decades, we can and we will shape a future Bahamian economy that is more dynamic, more resilient, more sustainable and most of all, more inclusive.

He said street vendors play an important role in the local economy and his government will be offering a way for enterprising Bahamians to be able to sell their products on the streets of their respective islands, and to be able to do so in a safe and sustained manner.

The government will review the current licensing and regulatory procedures for street vendors. Our intention is to enable street vendors to be able to sell their products in safe and secure venues.

We will make available additional funding to the Small Business Development Center for business loans or grants for these street vendors that will allow them to adjust to the current circumstances and to support their business start-ups or expansion.

Minnis said that it was also imperative for the country to get its vital tourism sector up and running, as safely and as rapidly as possible.

Thus far, there is no other economic sector as prepared to deliver the range of employment and the depth of tax revenues with great immediacy, like tourism, Minnis said, adding our task now is to restore our confidence in ourselves by shutting down community spread and flattening the COVID-19 curve of transmissions and infections once again, over the next several weeks.

In his broadcast, Minnis offered condolence to the family of Bernadette Rolle, a registered nurse at the Sandilands Rehabilitation Centre (SRC), who died after testing positive for the virus.

We mourn the loss of a brave warrior from the frontline in our fight against the pandemic COVID-19. The nation is grateful for her service and for all of those on the frontlines of this battle.Nurse Rolle was dedicated to her family, to her patients, and to the institutions of nursing and the Sandilands Rehabilitation Centre, Minnis said, telling the population to also remember in their prayers, the Opposition Leader Phillip Davis and other legislators and government officials hospitalised as a result of the virus.

Minnis, who said he has since tested negative for the virus, said that his administrations plan from the start of the pandemic was to utilize a range of public health tools to get the highly contagious COVID-19 virus under sufficient control in order to gradually re-open our economy and society, and to return to some level of growth and normalcy.

In the past few weeks we have been fighting our second wave of the global pandemic, he said, noting that changes have been made to the Emergency Orders for Grand Bahama and various Family Islands that take effect from Tuesday.

I am happy to tell you that the health team sees positive trends developing regarding the situation in New Providence. At this time a hard lockdown is no longer recommended for New Providence, Minnis said, warning however that if the data points to the need for other restrictions in the future to address community spread, such restrictions will be put in place.

There is still no vaccine for this virus, he said, adding that the very latest data has led to new measures being put in place here.

To continue to slow the current spread of the virus on New Providence, the current provisions that are in place will remain in place until 5.00 am (local time) Monday 31st August In order to give business owners time to put the necessary measures in place, and to be able to properly plan your activities, please note that effective 5.00 am, Monday, 31st August 2020, many businesses on New Providence will be able to resume normal activity with appropriate physical distancing measures

We will continue to monitor and analyse the data during the course of the coming week. If the data points to it we will announce the relaxation of some other measures. We are committed to a measured phased re-opening of the economy and society, based on specific health metrics, Minnis said, adding that it is hoped that this will aid the public, to gauge when there may be more relaxed or more restrictive measures.

CMC

More here:

Bahamas Government to Outline New Economic Measures to Deal with Impact of COVID - caribbeannationalweekly.com

The only thing better than watching Bryan and Sarah Baeumler renovate their luxury Bahamas resort is checking in. Unfortunately, Renovation Island fans havent been able to book a room and experience their talents firsthand so far. The coronavirus (COVID-19) pandemic forced the property to remain closed to visitors for the safety of everyone.

But now that most countries are reporting fewer and fewer cases of the virus, international travel bans are beginning to loosen. Fans who were stuck in their homes for months can only dream of staying at the idyllic island retreat the Baeumlers created on HGTVs Renovation Island.

When can you travel to see the Baeumlers in South Andros and how much will it cost? The answers are all right here.

The timing might be a little confusing for new fans of the Baeumlers. The couple found the shuttered property during a vacation visit to South Andros Island and came up with the wild idea to renovate it. Bryan was already a seasoned renovation pro, lending his talents to HGTV shows including Disaster DIY and House of Bryan.

The show Island of Bryan (later renamed Renovation Island in the US) began filming in 2018 after the Baeumlers and their children sold their forever home in Canada. They quickly got to work renovating the 18 room hotel and clubhouse, which also had 22 villas, turning it into a dreamy boutique hotel destination.

The Caerula Mar Club opened for business in winter 2019 after a close call with Hurricane Dorian.

Everything was going well for the Baeumlers, minus a few snags with delivery delays, until an unprecedented global crisis changed the world overnight. Bryan and Sarah were forced to shut down the resort in 2020 not long after it first opened for business.

However, theres a bright side to the story. The Caerula Mar Club recently announced they were accepting reservations beginning Oct. 24, 2020. The website confirms that the date is subject to change based on conditions.

They also offer peace of mind to guests by allowing them to postpone dates of travel for up to one year past the original reservation date.

If you are interested in a tropical getaway, its time to start saving up now. The gorgeous Caerula Mar Club includes luxury accommodations, amenities, and gourmet dining that doesnt come cheap.

A room at Caerula Mar Club starts at $385 per night. A private beach villa will set you back $865 per night and up. But with that, youll have access to the million-dollar views, white sand beaches, and total tranquility. And, seeing the spot that the Baeumlers poured their hearts into is a must for any fan.

Dates are filling up quickly. Make a reservation at the Caerula Mar Club website or, take an armchair vacation by catching Renovation Island on HGTV.

Follow this link:

'Renovation Island': The Baeumler Family's Luxury Bahamas Resort Is Finally Open for Reservations - Showbiz Cheat Sheet

EVEN with his thick, trademark eyebrows hidden by a pair of shades there is no mistaking the superstar smile of Sir Sean Connery.

But as he celebrates his 90th birthday today the man who James Bond fans say has never been bettered as 007 will be celebrating away from the glare of the cameras.

Jeff Rayner/Coleman-Rayner

Not seen out in public for three years Connery has become a virtual recluse, determined to have nothing to do with showbusiness or the fictional spy who made him both rich and famous.

He rarely leaves a gated community in the Bahamas where he lives in splendid retirement with his second wife Micheline Roquebrune.

Once able to command eight figure fees for a movie role, the actor has given strict instructions to his agent to turn down all offers.

Instead he prefers to spend his days playing golf, which seems to have given him the unrefined joy that he never truly found making films.

The demanding actor grew frustrated by what he considered to be idiots in the industry.

He was said to have come close to blows with the director of his final movie, The League of Extraordinary Gentlemen, in 2002.

AP:Associated Press

Jeff Rayner/Coleman-Rayner

On the sun kissed island of New Providence, which is a tax haven, the British knight is able to relax and is treated like royalty by staff at the Lyford Cay community.

There he is able to escape the shadow of Bond, the character he came to loathe even though he has repeatedly been voted the greatest actor to play 007.

The last time he was spotted away from the Bahamas was in New York 2017 when he seen needing a walking stick.

Alamy

Splash News

Notoriously private, Connery wont tolerate any friends or family speaking about him publicly.

But one source told The Sun: These days Sir Sean lives a very quiet lifestyle and just potters around, no one troubles him.

Its all set up for him there, all his needs are covered in the Bahamas.

He doesnt venture out of Lyford Cay much and has people visit him instead. He has become a bit of a recluse.

EPA

The perfectly manicured lawns, luxury bungalow with its own pool and high-level security are a long way from Connerys working-class beginnings.

Born to a lorry driver Joseph and cleaner Effie in Edinburgh his early jobs included milkman, artists model and coffin polisher before he found a career on the stage in London.

His rugged good looks, an athletic chest from bodybuilding and an ability to use his fists in a movie called Darby OGill and the Little People caught the attention of American producer Cubby Broccoli.

Broccoli had the rights to Ian Flemings Bond character and even though the writer didnt think Connery was sophisticated enough to play an English Commander, the relatively unknown Scotsman won the role.

Made for just 1million, Dr No was a massive hit in 1962 and Connery enjoyed the initial success.

He said: The first two or three were fun. The cast made it fun. Jumping out of planes was entertaining, although it was tough on my hairpiece.

The budget on Thunderball was more than the first three combined, but that didnt stop Connerys life being put in danger.

A plexiglass screen that was supposed to protect him from sharks was not big enough and the actor had to swim for it when they came after him.

Alamy

Kobal Collection - Rex Features

Connery hated all the attention which came with being the worlds most famous undercover agent.

People would say theres James Bond as he wandered down the street and he wanted to be known for being Sean Connery.

Fed up with the whole Bond thing he quit twice, first while making You Only Live Twice in 1967 and then after making Never Say Never Again in 1983.

His final outing as 007 was so troubled he refused to make a film for two years.

Martial artist turned actor Steven Seagal broke Connerys wrist choreographing a fight, while there were constant off screen legal and financial problems.

Alamy

A Bafta for The Name of the Rose in 1986 and a best supporting actor Oscar for The Untouchables in 1988 changed his mind about the business.

Now, the ageing actor was feted for his acting skills rather than his looks.

Other 80s hits such as Highlander and Indiana Jones and the Last Crusade proved he could be more than Bond, James Bond.

A string of forgettable flops in the 1990s, including First Knight and the much mocked The Avengers, soured things again.

He also grew tired of the constant legal battles with studios over his fees, often taking producers to court for underpaying him.

The final straw came making comic book movie The League of Extraordinary Gentlemen in 2002.

Plagued by disasters, including flooding in Prague ruining a 5million set, matters came to a head when British director Stephen Norrington stopped shooting for a day because a prop was wrong.

When Norrington heard rumours that Connery wanted him fired, he allegedly squared up to the actor saying I want you to punch me in the face.

Connery responded dont tempt me, and walked off the set.

Even though he earned 15million for the film, Connery had no interest in taking on any more roles, not even when a bigger cheque was dangled for the fourth Indiana Jones movie in 2008.

The actor later said about making The League: The experience had a great influence on me, it made me think about showbiz. I get fed up dealing with idiots.

Alamy

After retiring he was often seen in New York, where he would visit his son Jason, 57.

Jason was the only child from his 11 year marriage to Australian actress Diane Cilento, who died in 2011.

Having dated a string of beautiful women including Bond girls Jill St John and Lana Wood, Connery settled down with French painter Micheline Roquebrune, 91, in 1975.

Their relationship has survived his roving eye, including a seven-month affair with British pop star Lynsey De Paul.

Globe Photos

Getty Images

Kobal Collection - Shutterstock

Hulton Archive - Getty

Last year Connery and his wife were fortunate to escape the full force of Hurricane Dorian, which killed over 30 people when it struck the Bahamas.

They were about 90 miles from the worst hit area and took precautions to make sure their mansion was protected.

We were lucky compared to many others and the damage here was not great, he said. We had been prepared for the storm.

AFP - Getty

It would take more than a hurricane to shake Connery from his Caribbean contentment.

On the idyllic island he has swapped his Aston Martin for a golf buggy and Walther PPK for a golf club.

His home backs onto a five-star private club with its own golf course.

This is heaven for Connery who once said: The Oscar I was awarded for The Untouchables is a wonderful thing, but I can honestly say that Id rather have won the US Open Golf Tournament.

So, anyone wishing to see the actor back on screen will be disappointed.

As he has said: In the end, retirement is too damn much fun.

We pay for your stories and videos! Do you have a story or video for The Scottish Sun? Email us at scoop@thesun.co.uk or call 0141 420 5300

Read the original here:

Sean Connery 90th birthday: From James Bond to Bahamas recluse - The Scottish Sun

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

Going into the fifth consecutive week of lockdowns in Grand Bahama, some residents are feeling a bit frustrated while others believe it is for the protection of all.

One Grand Bahama resident agrees the extended lockdowns are not comfortable, but the health and well-being of the country is a priority.

As a nation, we have to take precautions to protect every single person of the Commonwealth of the Bahamas, she said. It is not a comfortable position to be in, however, our health and well-being come first.

On announcing the immediate full lockdown for New Providence on Monday evening - subsquently abandoned - The Prime Minister also extended the two-week lockdown to August 19, for another week in Grand Bahama, which will be entering its fifth-week lockdown.

The resident believes the government is acting within the provisions of the Bahamas Constitution concerning Emergency Powers COVID-19 Orders 2020.

I think we should stand together as a nation and support each other, and be very careful of how we look after our own health as well as others by complying with the Emergency Orders presented for the welfare of people by the government. That is the only way we will survive through this epidemic, she said.

An East Grand Bahama resident said a solution is needed to bring some balance to the current situation.

A solution must be administered that leaves rooms for economic activity while simultaneously taking safety into account, he said.

The resident believes that non-essential workers are the ones who are suffering.

While essential workers and decision-makers continue receiving paycheques rain or shine, the masses deemed non-essential empty out their bank accounts, lose businesses, default on loans, get evicted, cant feed their families, and more, he said.

A young male resident of Freeport hopes this is the final set of lockdowns.

I agree with this final set of lockdowns to stop people from moving about, but there must be a more creative way than lockdowns, he said.

The resident said that Hubcat monitoring for COVID positive persons should be implemented in GB, as well as the testing of swab samples in Freeport.

A resident of central Grand Bahama was very frustrated over the ongoing lockdowns.

She noted that many single parents, particularly mothers who are unemployed, and retired pensioners are being severely affected.

The majority of Bahamian people are living pay cheque to pay cheque at no fault of theirs. You cannot lock people up and do not expect for them to prepare. I dont see anyone being against the locking up if is it necessary, she said.

The resident said persons who are obeying the law should not be punished for those who are not, and spreading the virus.

They needto deal with the problematic people who are causing it. What are you going to do? Keep locking us down like a yo-yo? You have to address the issue of those who are not disciplined and control them.

The woman said that law-abiding citizens are becoming frustrated and irritated. Those found not following proper protocols should be arrested, jailed, or put under house arrest, she suggested.

Our nation has to move on, we are at a crossroads where we have no money, and every time we close down companies have to layoff people, she said.

The resident indicated that while the focus is on health, the lockdown situation is stressful and can lead to chronic conditions as well as anxiety, mental problems, and even suicides among healthy citizens.

Here is the original post:

Frustration begins to show in Grand Bahama - Bahamas Tribune

By TANEKA THOMPSON

Tribune News Editor

tmthompson@tribunemedia.net

THE Office of the Prime Minister announced the ease of lockdown restrictions for Grand Bahama and several Family Islands yesterday, allowing the resumption of indoor church services, curbside business activity and outdoor dining.

These islands can also open schools for instruction, providing social distancing and sanitisation takes place.

The measures took effect from 5am and cover Grand Bahama, Andros, Crooked Island, Acklins, Eleuthera, Cat Island, Exuma, Bimini, the Berry Islands, Mayaguana, Inagua and Abaco.

While a 10pm to 5am daily curfew is in place on those islands, the following businesses are permitted to operate daily from 6am to 9pm: food stores, pharmacies, gas stations, water depots, hardware stores and laundromats.

From Monday through Friday, 9am to 5pm, the following can operate: commercial banks, credit unions and money transfer businesses; financial institutions with essential staff; law firms for criminal and urgent civil matters; retail bakeries from 7am to 5pm; and other daily operations.

The notice from OPM also says wholesalers and manufacturers may operate while other businesses that can provide curbside, online or delivery services can operate, including retail and gaming houses.

Restaurants can open with outdoor dining, takeout, delivery and drive-through services, except for fish fry restaurants, OPM said. Hotels with guests can operate with current restrictions of... no gaming, gyms and spas.

Churches can also now resume indoor services on those islands, once they follow the Bahamas Christian Councils COVID-19 guidelines. Churches can also continue to have office hours from 9am to 1pm. Daily private prayer may continue.

Weddings and funerals are permitted with a maximum of 10 people, excluding the officiant and mortuary staff.

Government offices will be open with essential staff as directed by the relevant permanent secretaries, while those who can work from home will be advised to do so.

Gatherings of more than 20 people in homes will be prohibited.

Attending the beaches and parks on these islands is permitted 5am to 9pm daily, except for Grand Bahama which will be limited to 5am to 9am.

Schools can open for academic instruction with physical distancing and sanitisation, the OPM statement said. For those homeschooling, a maximum of five students are permitted in programmes. Requests for permission to instruct more than five students are to be made to the Ministry of Education.

Construction is permitted, along with commercial fishing, crabbing and subsistence fishing.

These provisions allow for commercial activity and opening up, while also maintaining provisions to preserve public health, OPMs statement added.

Also effective from today at 5am, the islands of Chub Cay, Long Cay, Long Island, Rum Cay, Ragged Island and Spanish Wells will continue to have no curfew.

San Salvador and Harbour Island have also been moved to this category of islands. Commercial activities are allowed with physical distancing and sanitisation protocols, OPM said of this category.

Social gatherings should be limited to no more than 20 people; physical distancing protocols for church services, funerals and weddings are to be followed; and beaches and parks are open.

Grand Bahama had previously been under a lockdown for nearly five weeks after rising cases on that island. During a Zoom meeting on Saturday, many Grand Bahama business owners expressed frustration over not being able to operate and some threatened to protest if their concerns were not addressed.

Read the original post:

Restrictions eased on Family Islands and Grand Bahama - Bahamas Tribune