Bahamas News
BAHAMAS: PM says Government on Track for Easing Burdens of the Poor
#Nassau, January 18, 2019 – Bahamas – Prime Minister, Dr. the Most Hon. Hubert Minnis told stakeholders in the business and financial services sector that 2019 will see a more accountable and productive government and 
tangible relief for the poor. He was addressing the 28th Annual Bahamas Business Outlook 2019 on Thursday, January 17, at Baha Mar Convention Centre under the theme, ‘Transforming The Bahamas’.
“This powerful theme echoes the government’s agenda of transforming our Commonwealth into a more productive, competitive and prosperous participant in the regional and global economies. Our common purpose must be one of transformation for change,” the Prime Minister said.
Fresh from Brussels where he led a delegation to high-level meetings of the European Commission regarding the Bahamas’ financial services sector, the Prime Minister reported that those sessions were very constructive.
He said the meetings also “provided The Bahamas with a significant opportunity to ensure the Commission fully understands the scope of the efforts we are taking to adhere to global standards.
“This includes a package of recently passed legislation, and a new framework aimed at strengthening industry regulations and protecting the financial services competitive edge as a leading international financial center,” the Prime Minister said.
And, he assured that the government is doing everything it can, in cooperation with industry stakeholders, and in keeping with the country’s national interests, to protect this important industry.
According to the Prime Minister, the government has made significant leaps in its fiscal affairs over the last year. Chief among these initiatives is the enactment of the Fiscal Responsibility Act. The Act provides a legally binding framework for responsible fiscal management. This Act is a major historical advancement in the management of public finances and public administration for The Bahamas
“Indeed, it is one of the most advanced steps in an independent Bahamas in the area of fiscal responsibility by the Government of The Bahamas,” the Prime Minister said. He added, “The Act represents the very essence of transformation. We are ending the practice of under-budgeting and unrealistic projections.”
According to the Prime Minister, the country is experiencing a new era of making the Government more accountable for how the people’s money is spent.
“Six of our main principles for fiscal management are: accountability, responsibility, stability, transparency, inter-generational fairness and inclusive growth.
“With these goals ever in mind, a transformed Bahamas is emerging,” he said.
Additionally, the Ministry of Finance has implemented quarterly fiscal reporting, “which again promotes transparency, so that the public, and businesspeople like those of you here this morning, may have a more accurate and timely picture of the state of the fiscal affairs of the country,” the Prime Minister said.
He noted that throughout 2018, the domestic economy continued positive expansion, driven by the government since coming to office. And, as 2019 is underway, he said it is clear that the country is on a positive trajectory.
“But this is only a beginning. There is so much more to be done to create more jobs, more opportunity and better prospects for more Bahamians on New Providence, Grand Bahama and throughout our Family Islands.
“Our unemployment numbers need to go down, so that all Bahamians, especially younger Bahamians can fully experience the benefit of the economic revival,” the Prime Minister said.
According to the latest estimates by the International Monetary Fund (IMF) at the conclusion of their most recent mission in December, The Bahamas is projected to score annual growth to the tune of 2.3 percent in 2018. This is supported by the completion of Baha Mar and a stronger U.S. economy.
In 2019, the IMF estimates growth of 2.1 percent; this is the first time in 12 years, and the first time since the Great Recession of 2008, that The Bahamas has enjoyed projected growth of more than 2.0 percent for two consecutive years.
“This is a milestone. Growth means more jobs. Growth means improved family income. Growth means better opportunities and livelihoods for more Bahamians across the board,” the Prime Minister said.
By Lindsay Thompson
Release: BIS
Photo Caption: Prime Minister Minnis addresses the 28th Annual Bahamas Business Outlook 2019, on January 17 at Baha Mar under the theme, ‘Transforming The Bahamas.’
(BIS Photos/Yontalay Bowe)
Bahamas News
Get your laugh on, March On, family drama by Gea Pierre, debut this weekend in Turks and Caicos
This is the sixth edition of the relays and the fourth time that The Bahamas has hosted the event, which actually made its debut in The Bahamas in 2014.
President, World Athletics, Sabastian Coe said after three very successful editions from 2014 to 2017, the World Athletics Relays has quickly become one of the World Athletics vibrant competitions, developing a culture of fun and innovation that gives it a unique flavour.
He thanked the Bahamas Government, the local World Athletics Relays Bahamas 24 committee and the Bahamian people for agreeing to host the relays. However, his main thanks were to the “world’s best sprinters” travelling from all the continents to compete in preparation for the road to Paris, France, in two months’ time.
During the opening ceremony, the athletes were given words of advice from Carl Lewis, one of only four Olympic athletes to have won nine Olympic gold medals, who is widely recognized as one of the greatest athletes of all time.
He said, “Keep it simple, do not try to do anything extra. Do what your coaches said. Leave on time, leave on time, leave on time.”
The athletes and crowds were treated to the sounds and sights of Junkanoo at the end of the opening ceremony. The Junkanoo performers stuck around for the two days of competitions, playing for the sprinters as they competed on the track.
Teams competed in the Women’s and men’s 4x100m, and the women’s men’s and mixed 4x400m. A total of 14 teams at the World Athletics Relays Bahamas 24 automatically qualified for places at the Paris 2024 Olympic Games. Both days of competition were important, as day two offered another chance for qualifications for those teams unsuccessful on day one.
Bahamians were made proud as the country set a new national record during the mixed 4x400m relays thanks to the efforts of 16-year-old Shania Adderley, a student of Tabernacle Baptist Academy.
The team came first in their heat on Sunday evening after not being able to gain a spot for the Paris Olympics on the first day of competition.
Other sprinters on the team included Alonzo Russell, as well as Olympic champions Steven Gardiner and Shaunae Miller-Uibo.
NASSAU, The Bahamas – During his remarks at the Opening Ceremony for the World Athletics Relays 2024, on May 4, Prime Minister and Minister of Finance the Hon. Philip Davis welcomed the special guests, athletes, officials, and “all lovers of athletics from around the world” to the Thomas A. Robinson National Stadium here in the “vibrant heart” of Nassau, Bahamas.
“This weekend, the world’s finest athletes gather on our shores to embark on a journey that is not only about speed and strength but also about dreams and determination,” Prime Minister Davis said. “From the serene beauty of our islands to the historic grandeur of Paris, this event marks a crucial path to the Olympic Games in Paris 2024.”
He added: “Here in The Bahamas, we are no strangers to world-class athletics or the warmth and exuberance that such international gatherings bring. It is a distinct honor to once again welcome the World Athletics Relays back to our islands. This event holds a special place in our hearts, symbolizing a bridge between nations brought together by the universal language of sport.”
Prime Minister Davis noted that that year’s theme, “Paradise to Paris,” captured the essence of that journey.
“It is here, amidst the splendor of our sun-kissed beaches and the rhythmic sway of our palms that the chase towards Olympic glory begins anew,” he stated. “We are thrilled to offer a backdrop of unparalleled beauty, where every sprint, every baton pass, and every victory lap is set against the picture-perfect canvas of our islands.”
He added: “To our athletes, I say this: as you stand on the precipice of your dreams, ready to catapult yourself into the annals of history, know that you are part of a legacy of excellence and determination. This weekend, you are not only competitors but also ambassadors of your countries and the spirit of sport. We are especially proud of Team Bahamas, who carry the weight of their performance and the hopes and pride of our nation. You embody the spirit of The Bahamian people, and we are behind you every step of the way.”
Prime Minister said that to the international visitors, he extended “the warmest Bahamian welcome”.
“Over the next few days, as you revel in the thrill of competition, take a moment to bask in the beauty of our island,” he stated. “Discover why we proudly say, “It’s Better in The Bahamas.” Whether it’s the hospitality of our people, the tranquility of our waters, or the rhythm of our culture, you are in for an experience that captures the heart and rejuvenates the soul.”
“Let us celebrate the unity and friendship that sports foster, cheering every athlete and savoring the spectacle of human potential at its best,” Prime Minister Davis added. “I hope the races are swift, the results are inspiring, and the memories are lasting.
“Welcome to The Bahamas, the paradise where champions chase their dreams to Paris. As your host, it is my immense pleasure to declare the World Athletics Relays Bahamas 2024 officially open. Let the games begin.”
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