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Last Updated: Feb 13, 2017 - 1:45:37 AM |
Nassau, Bahamas - Sidney Collie, Chairman of the Free National Movement (FNM), issued the following statement on the PLP celebrating Moody’s downgrading The Bahamas credit rating:
“Months ago credit agencies put The Bahamas under review, so it should have come as no surprise when Moody's International Rating Services downgraded The Bahamas credit rating last week. What is more surprising and appalling to Bahamians is the reaction from this PLP Government who all but celebrated the downgrade. Moody’s has stated that this downgrade is as a direct result of Prime Minister Christie and his PLP government’s inability to control the national debt and their continued free spending in the face of financial challenges throughout the Bahamas. Their reign has been marked by ignoring the people’s struggles while turning a blind eye to the financial warning signs that are going off all around us. In fact this Government’s response to growing financial trouble seems to be, ‘it could have been worse’. As was the case to this most recent downgrade – ‘it could have been worse’.
“We say ‘it should have been avoided’. Sensible and realistic long term financial planning and accountability are the first steps to a strong financial foundation. Yet from this Government, Bahamians are served up a daily dose of empty rhetoric and broken promises. And when the consequences of the PLP’s ineptitude become clear we get a lot of smoke and mirrors to distract from the issues while the PLP shrugs it off as ‘it could have been worse’. It is inexcusable that they refused to listen to the warnings that they needed to rein in their spending and now we are in this inexcusable situation. The Bahamians are clamouring for real leadership that focuses on serving the people, marked by accountability and common-sense ideas and proposals that will help get our fiscal house in order.
“The Prime Minister and his PLP Government tried to distract us from their economic failures with their announcement of a secret deal on Baha Mar but the people were not distracted and saw right through them. The people want accountability and true action to fix the financial mess that the PLP has created during their time in office. The Bahamian people deserve a Government that will stand up and fight to improve our economy and not just offer up excuses to justify their failures. Our country’s economic future won’t improve until we have real leadership that will fight for the Bahamian people’s future every day. The FNM will do just that and provide Bahamians everywhere with the leadership that they desperately need and deserve.”
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