Bahamas Information Services Updates
Halkitis responds to Tribune article: “Government knew of Wells LOI before signing”
Aug 19, 2016 - 5:52:42 PM




Nassau, Bahamas - Statement by Michael B. Halkitis, MP, Minister of State for Finance on August 19, 2016:

I read the article in The Tribune on August 19, 2016 under the headline:

“Government knew of Wells LOI before signing.”

In the article, selected portions of correspondence from various sources and addressed to different entities over a wide ranging time period are quoted and intermingled to create the impression of something untoward on my part.

The facts are as follows:

• The Bahamas Ministry of Finance is the Ministry responsible for relations with the Inter-American Development Bank.

• The IDB engages in financing to the Government and to private sector entities.

• Routinely the Ministry of Finance is approached by private sector entities that are seeking funding through the IDB private sector window to facilitate meetings. As the Bahamas Governor to the IDB, my responsibilities include facilitating meetings of private sector entities seeking to source funding from the IDB.

• My letter to the representative of the IDB dated May 26, 2014 was simply to request a meeting between Stellar Energy and representatives of the IDB for that purpose. When read in its entirety and in isolation it is evident that this is the case.

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