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Bahamas COVID-19 trend threatens to overwhelm health system; strong push to augment supplies

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#Nassau, The Bahamas – April 7, 2020 — COVID-19 cases for The Bahamas have been steadily increasing and the Minister of Health, on Monday, said his team is bracing for a surge while suffering a severe loss in front line health care workers who are under quarantine.

April 3, 2020 photo of meeting at Bahamas Ministry of Health

“Among these confirmed positive COVID-19 health care worker, two (2) have had to be hospitalized.  What is more worrisome, is that more than fifty (50) health care workers have been identified as contacts of diagnosed/confirmed cases. These health care workers are currently in quarantine, and are being monitored for the development of symptoms. 

Clearly, if more health care workers are removed from the available pool, there will be no soldiers left to fight the COVID war.   We must protect our frontline workers.   The best way to do this is to stay at home!”

Minister, Dr. Duane Sands wants what officials around the world want – for people to live through this pandemic by following the protocols, though difficult.

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“Currently, there are 23 cases in New Providence; 5 cases in Grand Bahama; and  1 case from Bimini. This equates to almost one new case each day. If we continue on this path, our health care system will be overwhelmed and unable to meet the demands.  Social and physical distancing and responsible handwashing are the two mitigating actions that will help us to combat the strength of this virus,” said the Minister during a presentation in the House of Assembly.

The nation learned that the People’s Republic of China has donated 1,000 test kits and The Bahamas now has 10,000 rapid tests which will mean wider screening at the community level. 

“We are exploring the introduction of rapid testing. The first step in the process requires in-country validation of the rapid serological testing. Once this validation is completed, wider screening for COVID-19 at the community level will commence. There are 10,000 rapid test kits in-country.”

Chinese Embassy, The Bahamas

More challenging however, as the world competes for the same products, is for The Bahamas to ensure the frontline soldiers in Health Care are adequately outfitted for the battle.

“With this in mind, we are aggressively exploring various ways and means to acquire more personal protective equipment (PPE) inventory and other supplies. The global shortage of PPEs and other needed supplies have resulted in supply chain disruptions.  Many countries are holding on to their stock, and others are coveting the stocks found in other countries. Hence, we must manage our current supplies judiciously.  Our goal is to ensure that there is a consistent supply of PPEs to frontline nurses, doctors and support staff.  With this equipment, they can provide the necessary care to individuals presenting to and being admitted to health care facilities,” said Minister Sands.

The Bahamas Ministry of Health currently has:  1,000 boxes of surgical masks;  43,995 of  N95 masks; 2,418 surgeon gowns; 1,672 healthcare barrier gowns;  238 face shields; 4,590 boxes of gloves; and 6,033+ PPE full kits, (masks, 2 gloves, boot cover, head cover, face shield).

On Monday, Bahamas Prime Minister, Dr. Hubert Minnis informed that the Public Hospitals Authority will label their medical face masks, that government will purchase all of the medical masks within the marketplace and soon to come is a ban on the sale of these specialized items to the general public. 

The Bahamas has over 29.5 million surgical masks and another 691,000 cloth masks according to the Health Minister in his update.  As for gloves, there are nearly 270,000,000.

From Bahamas Ministry of Health, Facebook

“The Ministry of Health will continue to trump up efforts to ensure that our frontline health care workers are provided with appropriate PPEs and training to minimize their level of exposure to the COVID19 virus.”

Dr. Judson Eneas

The Bahamas, up to Monday April 6 recorded 33 positives for COVID-19 and five deaths, including a medical doctor. 

Dr. Judson Eneas, 71, died on Sunday April 5 as a result of contracting the coronavirus; one of five medical care workers who had been infected in service to the public.

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Bahamas News

Kamala Harris to meet with Caribbean leaders in The Bahamas

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Rashaed Esson

Staff Writer

 

 

#USA, June 5, 2023 – Kamala Harris, United States Vice President will journey to Nassau Bahamas in June for a top level meeting with Caribbean  leaders, marking the first time she will visit the region since occupying office in 2021.

According to the White House in a statement, the meeting will bring attention to a range of regional issues.  Harris and the Caribbean leaders will continue talks on the shared efforts to address the climate crisis, such as promoting climate resilience and adaptation in the region and increasing energy security through clean energy.

Additionally, the statement informed that Harris’ trip “delivers on the Biden-Harris Administration’s commitment to advance cooperation with the Caribbean in pursuit of shared prosperity and security, and in recognition of the common bonds and interests between our nations.”

The June 8th meeting builds on and strengthens the U.S.-Caribbean Partnership to Address the Climate Crisis 2030, which was launched by the Vice President and Caribbean leaders in Los Angeles at the Summit of the Americas as further mentioned by White House Statement.

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PM Davis ‘confident’ that Revenue Outturn will near $2.9 billion

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By ERIC ROSE

Bahamas Information Services

 

 

#NASSAU, The Bahamas, May 30, 2023 – Prime Minister and Minister of Finance the Hon. Philip Davis said in the House of Assembly, on May 31, 2023, that public revenue receipts were strong over the nine-month period of July 2022 to March 2023, due to legislative reform, effective policy decisions, strengthened economic conditions and more efficient collection efforts.

“Analysis of the trends of the first three quarters of this fiscal year, and the years prior, suggest that the government is potentially set to exceed the $2.85 billion target set forth in the February 2023 Mid-year Supplementary Budget,” he said, during his Communication on Budget 2023.

“I am confident the revenue outturn at the end of the Fiscal Year 22/23 will near $2.9 billion.

Public spending has remained on track, and is well within the budgeted amount,” Prime Minister Davis added.  “For this reason I am confident that expenditure at end of the Fiscal Year 2022/23 will almost reach the target of $3.1 billion set in the Supplementary Budget.”

He pointed out that the primary balance will, therefore, record a surplus of $68.4 million at the end of the fiscal year, a $54.8 million increase from the $13.6 million surplus projected in the supplementary budget.

“Likewise, the overall deficit is expected to improve to $520.6 million, down from the $575.4 million outlined in the supplementary budget,” he said.

Speaking of Government financing, Prime Minister Davis said that The Bahamas’ borrowing costs had begun to experience a downward trend in the previous quarter; but the cost of borrowing rose at the end of March 2023.

“At the end of the third quarter, the total average cost of borrowing for current outstanding debt had risen to an interest rate of 5.55 percent,” he pointed out.  “This is notably higher than the previous year’s rate of 4.93 percent at the end of March 2022.

“This increase in borrowing costs is primarily attributable to the higher costs associated with external loan facilities.”

He added that, more specifically, the average interest rate for external financing had risen by 1.99 basis points, resulting in a rate of 5.55 percent as of March 2023, compared to the preceding year’s 3.56 percent.

“Throughout the past year, the interest rate policies of the major Central Banks have been restrictive, with a series of interest rate increases,” Prime Minister Davis said.  “These adjustments have been primarily motivated by the escalation of inflation, and the resulting upsurge in interest rates has had an impact on the Bahamas’ external borrowing costs.”

He added: “However, the cost of borrowing in the domestic market has been declining over the past quarters.

Looking at it in more detail, we can see that:

  • The average interest cost for domestic loans subsided by 27 basis points to 4.62 percent at end of March 2023, from 4.89 percent in the previous year;
  • And the average interest cost for domestic bonds subsided by 3 basis points to 4.63 percent at the end of March 2023 from 4.66 percent in the previous year.”

Prime Minister Davis noted that those statistics affirmed the Government’s latest medium-term debt strategy, which aimed to shift its borrowing away from costly external commercial debt.

“Such debt has seen a sharp increase over the past five years, including recent interest rate hikes,” he said.  “This strategic move will enable the government to once again rely predominantly on the domestic market to meet its financing requirements.”

Prime Minister Davis pointed out that, when considering the maturity of debt, or the average time it takes to repay the principal amount in the government’s debt portfolio, a longer maturity period led to a reduction in refinancing risk.

“In essence, prioritizing longer maturities is key to managing debt effectively,” he said.  “And so another element of the government’s medium-term debt management strategy is the goal of prolonging the average maturity time of its debt.”

Prime Minister Davis said that, in the face of “unprecedented turbulence” in the global financial markets, the Government was able to maintain its average time to maturity.

“At end of March 2023, the average time to maturity has decreased slightly to 6.7 years, down from the previous 6.8 years in March 2022,” he said.  “This variance is due solely to the external loan component, as the average time to maturity on internal debt has remained steady at 7.1 years.”

“This highlights the significance of maintaining a prudent approach to debt management, and aligning this administration’s practices with the government’s optimal debt strategy,” Prime Minister Davis added.

“It is imperative that we continue to exercise prudence in this area to ensure financial stability.”

(BIS Photos/Ulric Woodside)

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PM states HCA model not working during budget debate

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By ROBYN ADDERLEY

Bahamas Information Services

 

 

#FREEPORT, Grand Bahama, May 30, 2023 – The model of the Hawkbill Creek Act, the agreement between the Government of The Bahamas and the Grand Bahama Port Authority, is not working, said Prime Minister the Hon. Philip Davis during the opening of the 2023 Budget Debate on Wednesday, May 31 in the House of Assembly.

The island of Grand Bahama, he said, contributes 12 percent of the country’s GDP, however, there was a decline by 9 percent when compared to the previous year. Tourism, he said, increased in 2022 showing a growth in accommodation and food service.

“Unfortunately, the statistics show a prolonged decline in the Grand Bahamian economy. The evidence confirms the view of my government that the Hawksbill Creek economic model, which was meant to attract foreign direct investment, does not work.

“Furthermore, in our view, the government model of the Grand Bahama Port Authority must change, in order to realize the promise, growth and prosperity we all desire.

“Additionally, the Government of The Bahamas has serious concerns regarding the compliance of the GBPA and its related companies with the terms and conditions of the Hawksbill Creek Act, and its subsequent amendments.”

In the past, said the Prime Minister, administrations have attempted to address the issues however they appear to be “systemic and fundamental.” Decisive action will be taken, he continued, and a separate detailed announcement will be made at another time.

Prime Minister Davis mentioned that even though the GDP for several islands has experienced growth, Abaco and Grand Bahama have not done as well. Abaco, he said, saw a decline of 6 percent in 2022 with its contribution to the economy at 2.8 percent ranking the island as the third largest contributor.

“While there was a slight improvement in Abaco’s economy compared to 2019, it has yet to reach the levels seen before Hurricane Dorian. The decline in the economic activity is directly related to the slowdown in the real estate and construction sectors.”

He continued, “Declines in the real estate sector are directly as a result of a shift to higher intermediate consumption in 2022 from that of the previous two years. In terms of declines in construction, it should be noted that in 2020 and 2021, Abaco experienced significant recovery efforts in the form of debris removal, site preparation and building of damaged structures.

Such efforts bolstered the value added to the island’s GDP during those years. As those efforts wrap up, the industry saw a gradual decline as construction tempered to normal levels in 2022, resulting in a lower GDP.
Additionally, the Prime Minister said the Grand Bahama International Airport will be repaired, and a new healthcare facility will be built. Provisions have also been made for the continuation of an employment program for $4.7 million, along with the construction of a 50-meter swimming pool facility.

The House of Assembly has adjourned until Wednesday, June 7, when the debate will continue.

(BIS Photo/Ulric Woodside)

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