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DPM Turnquest: National budgets have presented a far rosier picture of national finances

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#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)

 

 

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Bahamas News

Bahama Brass Band Invitation Sparks Heritage Debate Ahead of TCI Constitutional Holiday

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Turks and Caicos, August 20, 2026 – The planned participation of the Bahama Brass Band in the Turks and Caicos Islands’ inaugural Constitutional Holiday celebrations on August 30 has sparked public debate over culture, heritage and the historical contributions of Turks and Caicos Islanders abroad.

Organizers defended the invitation, saying the band’s inclusion is intended to highlight the deep historical ties between the two countries and honor Turks and Caicos men who helped establish and develop the institution in Grand Bahama.

According to the organizers, the Bahama Brass Band began in 1955 in Pine Ridge, Freeport, with Turks and Caicos Islanders, including the late Deacon Reuben Hall Sr. of Middle Caicos and Jenkins Williams and Mervin Hendfield of North Caicos, among those who helped build its foundation. The band eventually grew to more than 50 men.

The organizers also pointed to the participation of Turks and Caicos men in The Bahamas’ Independence celebrations on July 10, 1973, arguing that their contributions became part of Bahamian history while maintaining strong connections to their homeland.

Supporters say bringing the band home represents an opportunity to honor those pioneers, showcase their regional influence and expose younger generations to an important part of Turks and Caicos history.

However, concerns raised publicly described the invitation as potentially disrespectful to local culture and heritage. Organizers acknowledged those concerns, apologizing to anyone who felt overlooked or offended, while maintaining that no disrespect was intended.

The committee said the event should ultimately unite rather than divide, presenting the band’s history as evidence of the reach and resilience of Turks and Caicos heritage.

PHOTO CREDIT: Bahamas Brass Band

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CBC Supports Opportunities for Young Bahamian Basketball Players

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NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers of Dasani products, proudly sponsored the fifth annual, Caribbean Hoopfest.

The tournament brings together Bahamian high school basketball teams and visiting teams from the United States for a competitive showcase at the Kendal G. L. Isaacs Gymnasium.  Following its inaugural year at the Kendal G. L. Isaacs gym and last year’s event at Loyola Hall, the tournament returned to the Kendal G. L. Isaacs gym this year.

During the weekend tournament, CBC kept athletes well hydrated with in-kind donations of Dasani Water, Powerade and Minute Maid Juices.

During the tournament’s final day, CBC provided additional support by offering Sprite No Sugar samples and inviting attendees to participate in its Spin the Wheel for a chance to win exciting prizes.

CBC was proud to support this incredible event, which provides young Bahamian athletes with valuable exposure to U.S. basketball scouts and coaches. This opportunity gives them the chance to earn scholarships, continue their education, and pursue their basketball careers in the United States.

Event organizer, Donald Francois shared his appreciation for CBC’s support.

“I want to express our sincere appreciation for Caribbean Bottling Company, who has been a tremendous supporter and an important part of the success of our program. Without CBC’s support, Caribbean Hoop Fest would not be able to function at the level it does today. And without Caribbean Hoop Fest, we would not have been able to provide the opportunities that have helped young Bahamian athletes gain exposure and pursue educational opportunities in the United States,” he expressed.

Since the program’s inception, several Bahamian student-athletes have been selected for scholarship opportunities, highlighting the tournament’s growing impact on the development and advancement of young basketball talent in The Bahamas.

They are: Kelvin McDowells – Guard, Wodson Antoine – Power Forward, Justin Lafleur – Guard and Sean John – Guard.

After another successful edition of the tournament, Francois shared what he hopes he and Caribbean Bottling Company can achieve in the future.

“Our vision is bigger than basketball. We want to use the platform of Caribbean Hoop Fest to educate, develop, and create opportunities for young people and their families throughout the Bahamas. With individuals and organizations committed to our mission, we believe we can continue to grow the program and make an even greater impact,” Francois said.

For more details on community support, events and new products visit Caribbean Bottling Company at www.cbcbahamas.com today.

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More Bahamians Accessing HIV, STI Care Through NHI

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NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.

NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.

“Increased utilisation of these services should be viewed as a positive development,” NHIA said.

The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”

The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.

NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.

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