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Last Updated: Feb 13, 2017 - 1:45:37 AM |
Dr. Minnis, Leader of the Free National Movement (FNM), issued the following statement on Moody’s placing The Bahamas Baa2 Ratings on Review for Downgrade:
“What does it take for this Government to act in the best interest of the Bahamian people and to start telling them the truth about our precarious financial situation? With Moody’s Investors Services placing The Bahamas on review for potential further downgrade to Junk status the time to act is now. And the time for the PLP’s empty rhetoric and broken promises is over. A further downgrade would hurt our country tremendously, adversely impacting our ability to fund capital projects in the future.”
“This is not the first time that the International Rating Agencies have warned the PLP Government that its reckless spending would push the country's financial situation over the preverbal fiscal cliff. In March, this Government was told to rein in its spending during the remaining months of the 2015-2016 fiscal year but they continued to spend like a drunken sailor. Yet to hear the Prime Minister tell it, everything is fine because he claims his Government has reined in spending. What he did not tell the people is all of the ‘savings’ comes on the backs of hard working Bahamians through the PLP’s higher taxes and fees. Even with tax increases and higher fees they keep spending and putting The Bahamas financial standing at risk.”
“But unfortunately for the people of The Bahamas this is nothing new. Year after year the PLP has failed to make significant, structural improvements in our budgeting and our economy keeps getting worse and worse. This is especially true for the Bahamian people but not for the PLP select few.
“Unfortunately, this Government proves everyday in their callous actions that you can’t fix a problem when you choose to ignore it. Our country’s outlook won’t improve until we have real leadership that shines a light on corruption and delivers real transparency. Leadership that will root out the crime that is infecting our communities, and leadership that will do the hard work to get our economy growing again. The Bahamian people deserve a government that will lead it to a more prosperous future, rather than a government that continues to run it into the ground.
The FNM will provide real leadership for the Bahamian people that they desperately need and ought to have.”
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