Bahamas News
DPM Turnquest: National budgets have presented a far rosier picture of national finances
#Nassau, June 2, 2018 – Bahamas – Deputy Prime Minister and Minister of Finance K. Peter Turnquest said for too long, national budgets in The Bahamas have presented a far rosier picture of national finances than was actually the case.
“Worse still, the unpaid bills and unfunded obligations have kept appearing,” DPM Turnquest said during a press conference to provide supplemental details for the Budget Communication at the British Colonial Hilton, Thursday, May 31, 2018.
“At my insistence, the team at the Ministry of Finance worked hard to pull every file from within the Ministry, and to liaise with their colleagues throughout government, to ensure that we once and for all obtained a full accounting for all outstanding and unfunded obligations.
He said, “This was a key driver in our recent budget preparation exercise. As I said in the Budget, the end result of this exercise, we now find ourselves with a mountain of such bills, to the tune of some $360 million.
The DPM said for the first time in a long time, the government is being fully open and transparent about this and – more importantly – it is addressing it once and for all.
“Such flagrant mismanagement of the country’s national finances must never, ever be allowed to happen again.”
The DPM explained that in developing the Budget, the government needed to square a number of pressures and challenges:
- First, it must pay off the $360 million in arrears, which it will do responsibly over three years;
- Second, the government must fully and properly account for all of the known expenditure commitments across all Ministries and Departments, so it does not accrue any more unpaid bills;
- Third, it must provide financing for a selected number of the highest priority new initiatives in its growth agenda, and;
- Fourth, the government must do all of that in a way that leads to significant and permanent reductions in the fiscal deficit, and to a balanced budget in three years.
DPM Turnquest said, “I want to stress at this point that, while balancing the budget is the responsible thing for Government to do, it is also critically important to the prosperity of this and future generations of Bahamians.
“Sound public finances set an environment that is conducive to confidence in the future, the blossoming of entrepreneurship and investment, both domestic and foreign, and the creation of well-paying jobs for our people.”
He said this is what this budget is ultimately all about. “It is not simply about reducing the fiscal deficit just for the sake of doing so. It is truly about stronger growth, more jobs and a higher standard of living for all.”
The DPM said Government deficits and debt matter to all of all the population, because if the government does what other governments have done – to obscure the facts and play games with the budgets and just kick the can down the road, the country would one day wake up to find out that it cannot pay its bills and that it cannot maintain the value of its currency.
“Experience in other nations clearly shows the very real economic and social costs on society when Government debt is allowed to grow unchecked to critical limits.”
DPM Turnquest said, “As the responsible government you elected, we had to do what is right, as opposed to what is politically convenient.”
By: Llonella Gilbert (BIS)
Photo Caption: Deputy Prime Minister and Minister of Finance K. Peter Turnquest brings remarks at a press conference to provide supplemental details for the Budget Communication at the British Colonial Hilton, Thursday, May 31, 2018. Seated is Financial Secretary, Marlon Johnson.
(BIS Photo/Patrick Hanna)
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products concluded their 10 weeklong Twist To Win campaign with four $5,000 Mall at Marathon shopping sprees.
The campaign which was available throughout the entire Bahamas allowed consumers to enter by purchasing a 20oz bottle with a yellow cap
from the following brands: Coca-Cola, Coca-Cola No Sugar, Sprite, Fanta Orange, or Fanta Grape. Each yellow-cap had a unique alpha numeric code underneath which they submitted to the Twist To Win WhatsApp number.
With each qualifying purchase, participants residing in The Bahamas were entered to win instant prizes and into a grand prize draw to win one of four $5,000 shopping sprees at the Mall at Marathon.
Participants also enjoyed exciting instant prizes such as: Airpods, JBL Speakers, premium Coca-Cola merchandise, $500 Visa gift cards and Amazon, Spotify and Apple Music digital gift cards.
Out of 76,000 plus submissions, Brian Bethel, Ashia Demeritte, Merlin Adams, and Taraceta Neely won the coveted Mall at Marathon shopping sprees at the following select stores, Kelly’s House & Home, The Sports Center, John Bull, Brass & Leather, and BTC.
Leading up to the grand finale shopping spree, Coca-Cola hosted a Trivia Showdown with the eight finalists to determine the four winners. Finalists were tested on their knowledge of World History, Pop Culture, Caribbean Bottling Company and Coca-Cola Facts!
After a few rousing rounds of trivia, the four winners were declared after each winning their spot in the shopping spree by answering their questions correctly and choosing the “Grand Prize” Coca-Cola labeled bottles at random.
The morning of the shopping spree Coca-Cola gave the winners exclusive access to the Mall at Marathon and its participating stores before
their usual operating hours. Grand prize winners were greeted with wide smiles from Coca-Cola brand representatives and morning bites before the big event.
At the start of the thirty-minute clock the grand prize winners along with each of their Coca-Cola shopping assistants ran to the various stores collecting items in their arms and carts.
Merlin Adams, a husband and father of four was proud to have executed his game-plan at the end of the shopping spree. With toys, a new phone and materials for his home from Kelly’s, Adams felt accomplished in what he gathered.
Taraceta Neely, a winner from Eleuthera collected beautiful bags for herself and relatives from Brass and Leather and Brian Bethel bought matching athletic and outdoor wear from The Sports Center for his family.
The final winner Ashia Demeritte bought linens and household items in addition to a new phone from BTC right in time for Christmas.
Caribbean Bottling Company is proud to share the real magic of Coca-Cola with the grand prize winners and the may instant prize winners across the Twist To Win campaign. For more updates on new products, promotions, and events follow www.cbcbahamas.com.
Bahamas News
The Coca-Cola Art Project Astonishes Art Lovers at The Bahamas Culinary & Arts Festival
NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products displayed
their astonishing Coca-Cola Art Project (CCAP), during Baha Mar’s five-day Culinary & Arts Festival. Earlier this year, Coca-Cola partnered with The University of The Bahamas’ Visual Art and Design Department for a culturally rich art competition. UB’s art students were challenged to create pieces surrounding the theme, Bahamian music.
As a result, 20 student works of art were made, with four students declared as winners at the CCAP exhibit opening in Baha Mar’s ECCHO: Art Gallery in August. To recreate the culturally stimulating magic felt at the exhibit’s premiere, the CCAP was featured at the FUZE Art Tent during The Bahamas Culinary & Arts Festival.
Nine incredible pieces of art lined the walls of the Coca-Cola Art Project, four of which included the winning pieces from Jhanaisia Cole,
with ‘Gaulin Bride’; Alyssa Pinder, with ‘Shotgun Wedding’; Nelson Gray, with ‘Untitled’; and Jaela Bowe, with the piece ‘Whims of Obeah, a Folktail’. Additionally, an intimate listening room was built. It displayed students’ artistic processes, UB Visual Art and Design representatives, and a recap of the exhibit opening for audiences.
Art enthusiasts also enjoyed premium limited-edition CCAP keepsakes at the booth. Journals which featured a collage of all 20 student submissions on the front and back cover, postcards with an art piece on the cover along with the student’s name, title, dimension and materials on the back and pens designed with the CCAP’s dynamic logo.
Throughout the art festival diverse groups of people visited the art tent taking in the displays while enjoying the artistic insights from the
listening booth.
Community and culture are always at the forefront of Caribbean Bottling Community, and it was boldly showcased during The Bahamas Culinary & Arts Festival for the third consecutive year.
For more details on the Coca-Cola Art Project, events and new products visit www.cbcbahamas.com today!
NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor delighted Jollification
attendees with bubbles from their Bottega and Bouvet Ladubay sparkling wines and Besserat de Bellefon champagne lines.
Located in the Monument Circle on The Retreat grounds, CWS transformed The Retreat Garden into a lush lounge with Besserat, Bouvet and their latest product addition, Bottega, during the two-day affair.
The festivities kicked off Friday during BNT Member’s Night. Guests enjoyed exclusive offerings from CWS’s catalogue, offered exclusively to members. Complimentary mixes or glasses on the rocks included El Tequileno tequila, Hard Truth whiskey, House of Angostura rum, Cross Keys gin, Nemiroff vodka and a slew of wines such as Fonesca Bin, Bottega and Besserat.
Guests also savored the ‘Jolly Paloma’ cocktail, an instant favorite made with El Tequileno tequila, Schweppes Grapefruit and Domaine de Paris rose wine. To end the night, guests were treated to branded limited-edition wine tumblers as keepsakes.
On Saturday and Sunday, Jollification attendees delighted in glasses or bottles of champagne and sparkling brut or rosé wines while taking
in the comfort of the chic lounge. In addition to purchasing bottles for onsite consumption, consumers were also able to purchase bottles as gifts whether for themselves or someone special.
The sophisticated “bubble lounge” lounge was decked with velvet couches, gold rimmed cocktail tables, blue and pink pillows, and a white floral branded backdrop created for capturing the perfect picture.
Caribbean Wines & Spirits, a historic partner of the Bahamas National Trust was pleased to support Jollification 2025 to kick off the festive season and share their expansive range of spirits.
To keep up to date with all CWS products and events, visit their website at www.cwsbahamas.com today.
