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Bahamas gets Update on the Emergency Food Plan

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Statement by Michael Pintard, Bahamas Minister of Agriculture & Marine Resources

#Nassau, The Bahamas – From April 27, 2020 — Mr. Speaker, I rise on behalf of the great Constituency of Marco City to which I have the honour to represent.

Mr. Speaker, The Cabinet of The Bahamas has determined that food production is especially crucial in these times. And that whatever measures we put in place must be sustained beyond Covid-19.  We take seriously the mandate that has been given by the Prime Minister to fix outstanding issues that may exist along the entire value chain and supply chain to ensure that The Bahamas has adequate food resources and the right food resources for the health and wealth of our people.

Strengthening existing partners and working with stakeholders to reach common objectives will be critically important to weather this crisis. My Ministry continue to make ourselves available to hear the concerns of farmers and fishers and will be making deliberate efforts to use the available technology to reach out to farmers and fishers throughout the country.

Mister Speaker, the COVID-19 crisis is an important opportunity for Bahamians to make healthier food choices by increasing their consumption of fruit and vegetables. There has been unprecedented interest expressed in farming over the last few months. We are responding quickly and carefully. We are making every effort to make local products accessible and affordable.

  1. The Packing Houses remain operational in all our Family Island locations (Andros, Cat Island, Eleuthera, and Long Island). The Bahamas Agricultural and Industrial Corporation continues to operate the Produce Exchange and The Bahamas Agricultural and Marine Science Institute has continued local produce purchases. Both agencies have reoriented their marketing to make ‘value boxes’ available to persons on New Providence who may be facing financial challenges and have instituted the social distancing protocols to protect employees and customers. Extended hours have been added on Saturday to facilitate essential workers.

Additionally, ‘The Market’ at Gladstone Road has also been opened to allow purchase of domestic agricultural products.

  • Mr. Speaker, the long overdue renovations to packing houses in San Andros, North Andros, Clarence Town, Long Island, and Lower Bogue, Eleuthera will commence 1st May, 2020. Contracts have already been signed in the amount of four hundred fifty four thousand eight hundred and forty dollars ($454,840.00) to renovate the packing houses in the aforementioned islands.
  • Mr. Speaker, the slaughter house in New Providence has been closed from the initial COVID-19 Emergency Order on March 23rd, 2020. The Government, in consultation with the relevant authorities is seeking a gradual opening of the abattoir to allow for the slaughter of animals.  We anticipate that the abattoir will reopen on Tuesday 28th April, 2020. We will upgrade this facility as a matter of urgency. The growth of the livestock sector depends on a national slaughterhouse system throughout the relevant islands engaged in animal husbandry.
  • The Department of Agriculture and the Department of Marine Resources have maintained essential services to farmers and fishers during the period by providing reduced hours to facilitate urgent matters including facilitating import and export permits. The Veterinary Services will be implementing telemedicine for livestock farmers on New Providence and the Family Islands. The information on the times and link for services will be posted on the website of the Ministry of Agriculture and Marine Resources.
  • Mr. Speaker, the Ministry of Agriculture and Marine Resources (MAMR) has also produced an Emergency Food Production Plan to strengthen food and nutrition security in this time of crisis. It includes the assistance to farmers in the clearing of Agricultural Land of which one million eighteen thousand six hundred dollars ($1,018,600.00) has been allocated to farmers throughout The Bahamas with four hundred seventy-nine thousand six hundred dollars ($479,600.00) out of the said figure being allocated to Grand Bahama and Abaco (those islands devastated by Hurricane Dorian). These funds have already been sent to the affected islands.
  • Mr. Speaker, my Ministry is in the process of purchasing and distributing some ten thousand (10,000) backyard gardening kits throughout The Bahamas. The kits will include seeds, seedling, fertilizer, drip line, and pro-mix along with guidelines of how to arrange a proper backyard gardening system. The distribution of these kits should begin in two weeks.
  • Mr. Speaker, our Ministry is sourcing more than one thousand (1000) hydroponic systems which will be strategically placed throughout The Bahamas to assist with producing adequate supplies of vegetables especially leafy greens. The MAMR in collaboration with the Ministry of Education is adding an additional 22 hydroponics systems to the previously agreed upon number of hydroponics and aquaponics systems which will be placed in schools throughout The Bahamas.  
  • Mr. Speaker, two thousand layer chicks have been purchased from a local vendor and will be distributed to the Family Islands as soon as this week. This will provide additional protein and encourage farmers in the various communities to produce eggs for their local economy. Additionally, some five thousand (5000) layers are on order from a company in the United Stated and would be available within the next three weeks for distribution to New Providence farmers. On receipt of these birds/layers, it is intended to purchase an additional 5000 to 7000 layers to assist farmers further. The MAMR has begun planning to work with the sector about urgently upgrading the available hatcheries so that we can in the short to medium term dramatically increase egg production throughout the Bahamas especially on New Providence, Eleuthera, Abaco and Grand Bahama in phase one.
  • The Ministry’s Food processing and Cooperative leadership in conjunction with BAIC and BAMSI and later with Home Economic Teachers and private enterprises will shortly lay out our plan to accelerate and scale up food processing and light manufacturing.
  1. Mr. Speaker, the Department of Marine Resources plays a pivotal role in the dietary consumption of seafood and the protection of our Marine Resources. During Hurricane Dorian, Marine Resources vessels were damaged/destroyed and we have already paid a 50% deposit of two hundred fifty-four thousand five hundred and twenty dollars ($254,520.00) for three vessels allocated for Bimini, Grand Bahama, and Abaco with which we expect to replace those vessels lost.
  1. Furthermore, we continue to discuss a plan of action to keep both subsistence and commercial fishers fully engaged in order to feed our nation and earn foreign currency. Discussions are underway to ensure the reopening of fish markets in a safe manner and the safe delivery of marine products to stores and customers.
  1. In addition, my Ministry is also in the process of partnering with the Ministry of Social Services, the Ministry of Health, The Ministry of National Security (Royal Bahamas Police Force), the Ministry of Transport and Local Government, the Ministry of Education and also food suppliers and wholesalers, and Non-Governmental Organizations (NGOs) to launch the National Food Distribution Program to ensure, as the Prime Minister stated, that no vulnerable person is left behind.

Mr. Speaker, the program will target Senior Citizens and Disabled, Persons receiving Social Services Assistance, Students on the School Lunch Program and Furloughed Workers. Mr. Speaker, the distribution will include a number of dried goods but even more importantly Bahamian grown fruits and vegetables, Bahamian marine products, Bahamian jams, jellies, honey, Bahamian meats, Bahamian soaps, etc.

  1. Mr. Speaker in order to ensure that adequate animal feed and agriculture inputs are available to farmers in the various islands and that we reduce wastage in the movement of agriculture and marine products our Ministry is documenting available dry, cool and cold storage space.
  2. Since we last met we have begun to forge important partnerships upon which we will build. We are excited about the meetings held with church leaders about national and local agriculture projects we will work on together. We are encouraged by the initial meeting with the new generation of agro-youth professionals who are committed to the full incorporation of new technologies in all aspects of agriculture and marine resources. We intend to assist them in several key areas as they assist the sector. Our discussions with approximately 16 Agriculture educators resulted in several key commitments on both sides. I and the Ministry team have participated in more than two Ministerial meeting with Ministers throughout the region sharing best practices and plugging the data gap. We are in ongoing discussions with the leaders in the fishing and farming sector.

Mister Speaker,

These are challenging times at a national and personal level for our entire nation. Constituents and staff members have lost loved ones and other staff, in every section of the ministry, (Department of Agriculture, Department of Marine Resources, Cooperatives, Regatta, BAIC, BAMSI, and BAHFSA), and despite these difficult circumstances show up to work daily and on weekends. I am indeed grateful to them and to the farmers and fishers throughout the archipelago for their dedication and support.

Thank you, Mister Speaker, for this opportunity to update the Honourable House.

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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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