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Bahamas DPM responds to Opposition statement on Moody’s review

Bahamas, July 13th 2017: Sheer amazement and disappointment, is how DPM and Finance Minister Peter Turnquest is describing the latest comments from the PLP camp on the Moody’s review. Turnquest in responding to the comments called it “the wrong statements at the wrong time”, and says there is a growth strategy in place, contrary to what the Exuma MP is saying. Chester Cooper released a statement on Tuesday, offering an olive branch to work with the current administration in bringing down debt levels, while offering words of advice on how to handle the current fiscal situation.

Turnquest immediately discredited Cooper’s words, saying “these words have no place in the current debate on the Country’s fiscal challenges”. He went on to say it was no secret to both credit rating agencies, Standard and Poor’s and Moody’s, that the economy had been driven to the ground by the previous administration. The finance minister adds his administration was elected on a promise of transparency, and had a duty to come clean and not mislead the country, while undertaking the daunting task of putting in place the necessary reforms to stabilize public finances. Casting blame on the previous administration, Turnquest says “had they been more transparent, more honest and more responsible, the country would not have been facing these challenges”.

 

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