In short the IDB is telling the Bahamas Government to get it’s finances in order. The Bahamas is spending too much compared to monies coming in.
Eddie Minnis comes to mind. As a boy there was a Minnis hit with the chorus line “living’ in the hands of the finance man.” In the song he was speaking of the average Bahamian who would live beyond his financial abilities, but it would seem that we as a country have fallen into the very same trap. The End problem is what happens in the end when one is no longer capable of paying the loan?
The IDB says the Bahamas needs to see an 85% debt to GPD peak. How did we slip so far into debt that 85% would seem a good ratio?
Interesting, the report does not mention growing the economy. Does this mean they think we are incapable of growing? I hope that is not the position of the Bahamian Government.
Bottom line is we need to increase the earnings of our country. That take strategy and good business sense. I am hopeful we will change this course of disaster we are currently on.
By the was of interest, Who represents the Bahamas at the IDB? Where are they from?