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COMING SOON: BORROWING TO MODERNISE

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TCI Moves to Tap Capital Markets; Debt Advisor Sought as Government Pushes Ahead with Long-Delayed Fixes

The Turks and Caicos Islands is preparing to step decisively into the capital markets, with the government now moving beyond caution and into action — signaling that borrowing is no longer optional, but necessary to fix what has been left undone for far too long.

In a pre-budget communication delivered  in the House of Assembly just ahead of the Easter holiday weekend, Premier Washington Misick laid the groundwork for what amounts to a major policy shift: the country will use its strong credit position to raise financing and accelerate national development.

“We can’t have a platinum credit card… and have no debt,” the Premier said, pointing to the contradiction of holding an excellent credit rating while critical infrastructure, housing and public systems lag behind growing demand.

While measured in tone, the message was clear — the era of playing it safe is giving way to a more assertive approach, one that leverages financial strength to deliver results.

Crucially, that shift is already underway.

Government has begun the process of identifying a debt advisor, a specialist who will guide the country through borrowing on the capital markets and secure the most favourable terms. The move signals that this is no longer a conceptual discussion, but an active effort to unlock funding for large-scale national projects.

“I would’ve liked to have had a broader consultation but given where we are — and the government’s plan to escalate spending and raise the additional funding needed over the next three years — we had to bring the budget at this time to create the space to begin those negotiations. We have already started the process of recruiting a debt advisor to help structure the arrangements and secure the best possible deals.”

The borrowing is expected to support a range of priority areas, including infrastructure expansion, housing access, digitisation and essential public services — all areas the Premier acknowledged require urgent attention.

“So when we look at the need for infrastructure expansion, the need for digitalisation, including fibre network and the national ID, and when we consider solid waste management and improving access to proper housing, this government is going to the capital market to raise a substantial amount of money. That funding will be allocated across four or five priority areas, which I will outline fully when the budget is presented.”

At the same time, two long-promised institutions — a national credit union and a mortgage corporation — are now moving from concept to execution. According to the Premier’s State of the State Address, the credit union is expected to become operational by October 2026, backed by an initial $20 million, aimed at delivering lower-cost loans and expanding access to financing for working families and small businesses.

The mortgage corporation, meanwhile, has received Cabinet approval, with legislation now advancing — laying the groundwork to expand homeownership and remove long-standing barriers to affordable financing for Turks and Caicos Islanders.

Together, the plan outlines a clear direction:
borrow to build, create access, and close the gaps.

The Premier acknowledged that broader consultation would have been ideal, but made it clear that timing matters — and that the country cannot afford further delay if it is to keep pace with its own growth.

The full scope of the strategy is expected to be outlined in the upcoming budget presentation, but the signal has already been sent — Turks and Caicos is preparing to use its financial strength not just to maintain stability, but to drive transformation.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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GOLD & SILVER – Hall & Guerrier Fly High for Turks and Caicos at CARIFTA 2026

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Turks and Caicos, April 06, 2026 – Technical excellence early in their jumps became the defining factor for two Turks and Caicos athletes, as David Hall soared to gold in a nail-biting Under-20 high jump final at the 53rd CARIFTA Games in Grenada. Herwens Guerrier added to the country’s success with a 1.90 metre clearance to secure silver in the Under-17 division, finishing in a tightly contested field where all three medalists cleared the same height.

Both events were decided on countback — meaning the medals were determined not just by height cleared, but by which athlete did so with fewer failed attempts, highlighting the importance of precision and composure under pressure.

A wave of national pride followed the results, with congratulatory messages pouring in for the athletes who delivered under pressure on the regional stage. In a statement, Dileeni Daniel-Selvaratnam praised both competitors, saying their “hard work, discipline and determination have made the entire nation proud,” while encouraging the wider team to continue striving as competition unfolded at the Kirani James National Stadium in Grenada.

Team Turks and Caicos finished just outside of the top ten among 28 competing nations, and anticipation is already building for what is expected to be a spirited homecoming for the standout athletes, whose performances have ignited pride across the islands.

The 53rd staging of the CARIFTA Games, held at the Kirani James National Stadium in Grenada, unfolded under warm, at times testing conditions, with intermittent showers and shifting winds challenging athletes across disciplines.

Jamaica once again asserted its dominance, capturing its 40th consecutive CARIFTA title, continuing an unmatched run in regional athletics. Among the standout performers was Shanoya Douglas, whose electrifying run in the Under-20 200 metres earned her the prestigious Austin Sealy Award — the Games’ highest individual honour — after she shattered the long-standing record of Bahamian Shaunae Miller-Uibo, who went on to become an Olympic gold medalist in the 400 metres. Douglas clocked an impressive 22.11 seconds to rewrite the CARIFTA record books.

For Turks and Caicos, however, the spotlight remained firmly on the field, where two high jumpers delivered performances defined by discipline and growth. Hall’s gold medal-winning clearance of 2.00 metres marked a significant step forward in his development, improving on his 1.89 metre silver medal performance at the 2025 Inter-High Championships. Guerrier’s 1.90 metre effort in the Under-17 division similarly places him among the country’s top emerging talents, signalling a strong future for the event locally.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Fuel Pain at The Pump: Global Tensions Drive Prices Up as Bahamians Feel the Squeeze

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NASSAU, Bahamas — What should be a simple five-minute drive is fast becoming an expensive, hour-long ordeal, as rising fuel prices collide with worsening traffic congestion across New Providence.

As of early April 2026, gasoline prices across The Bahamas have climbed sharply, with motorists now paying an estimated $5.50 to over $6.50 per gallon, depending on the station and grade. The increases, seen at major retailers including Esso, Rubis and Shell, reflect a volatile global oil market driven by escalating geopolitical tensions.

The latest spike — in some cases jumping more than 50 cents per gallon within days — is being driven by uncertainty surrounding escalating tensions involving Iran. U.S. President Donald Trump has issued a direct ultimatum, warning that the United States could launch aggressive strikes on Iranian infrastructure, including power plants and key facilities, if demands are not met. While he has also expressed hope for a swift resolution, the threat of rapid escalation is already rattling global oil markets — and The Bahamas, heavily dependent on imported fuel, is feeling the impact almost immediately.

At the pumps, the frustration is real.

Drivers are now paying significantly more just to sit in traffic. Commutes that once took minutes are stretching into hour-long crawls, burning fuel with little movement and compounding the financial strain. For many residents, the issue isn’t just the price per gallon — it’s how quickly that gallon disappears.

Industry players are also bracing for impact. Higher diesel prices are expected to ripple across key sectors, including trucking, construction, and shipping — all of which ultimately feed into the cost of goods and services. In short, this is not just a fuel story; it’s an inflation story in the making.

Despite the surge, the Bahamas Petroleum Retailers Association has moved to calm fears, confirming that there is no fuel shortage. Supply remains stable, but consumers are being urged to adjust behavior — from maintaining proper tyre pressure to considering carpooling — small measures that could stretch every dollar a bit further.

Retailers, however, are not offering much comfort on price relief. While fluctuations are expected, insiders say the days of sudden price drops are unlikely in the immediate term. The “shock” increases may level off, but a meaningful decline hinges on global stability — something that currently feels out of reach.

For Bahamians, the reality is tightening: higher fuel costs, longer commutes, and a growing sense that relief isn’t coming anytime soon.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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DECLARATIONS DUE: INTEGRITY COMMISSION CALLS PUBLIC OFFICIALS TO ACCOUNT

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PROVIDENCIALES, Turks and Caicos Islands — It’s that time again — a period of compliance, accountability and transparency for those entrusted with public office and captured under the category of “Specified Persons in Public Life.”

The Integrity Commission is reminding all individuals who fall within this category that they are legally required to file their Declarations of Income, Assets and Liabilities, in accordance with Section 39 of the Integrity Commission Ordinance.

The declaration window is now officially open, running from April 1 to June 30, 2026, and applies to a wide cross-section of senior public officials, statutory board members and others operating within the machinery of government.

This is not a routine administrative exercise. It is a cornerstone of good governance — designed to ensure that those in positions of power are transparent about their financial interests, and to guard against corruption, conflicts of interest and illicit enrichment.

Who Must File

The Commission outlines several categories of individuals required to submit declarations this cycle.

They include:

  • Persons who last filed on or before June 30, 2024
  • Individuals newly appointed to statutory boards or government positions from April 1, 2026 onward
  • Those who have demitted office, resigned or whose contracts have ended — who must file within 90 days of leaving their post
  • Individuals who may not have previously realized they fall under the legal requirement

The net is wide — and intentionally so.

“Specified Persons in Public Life” includes elected officials, senior civil servants, financial officers, law enforcement leadership, members of statutory bodies, and other key decision-makers whose roles carry influence over public resources and policy.

Among them are Members of the House of Assembly, Cabinet Ministers, Permanent Secretaries, Heads of Department, senior police officers, and individuals serving on public boards and commissions.

The Commission notes that the full schedule of designated roles is extensive, and persons are encouraged to consult the official list available through its office or website to confirm whether they are captured under the law.

How to File

Unlike many modern reporting systems, this process remains deliberately controlled.

All declarations must be:

  • Submitted in person
  • Delivered by appointment only
  • Accompanied by supporting documentation

Declarants will be contacted directly with their assigned appointment details, including date, time and location. The Commission has made it clear — submissions through third parties, email or mail will not be accepted.

This approach reinforces the seriousness of the process and ensures the integrity of submissions.

Declaration forms are available via the Commission’s website, and assistance is accessible through its Providenciales office for those needing clarification.

Penalties for Non-Compliance

The warning from the Commission is unambiguous.

Failure to file a declaration without reasonable cause is a criminal offence.

Penalties include:

  • Up to one year imprisonment
  • A fine of up to $15,000
  • Or both

Additionally, the Commission is mandated to publish the names of non-compliant individuals in the official Gazette — a move that carries both legal and reputational consequences.

Confidential but Critical

While the process is strict, the Commission emphasizes that all declarations are confidential documents, handled with discretion.

Still, the purpose is clear: transparency does not always mean public disclosure — but it does mean accountability to an independent oversight body.

In a region where public trust can be fragile, these filings serve as a quiet but powerful mechanism to reinforce confidence in governance.

For Turks and Caicos, this annual exercise is more than paperwork — it is a test of integrity at the highest levels.

And for those required to file, the message is simple: comply, disclose, and do it on time.

For more information or to confirm filing obligations, individuals are encouraged to contact the Integrity Commission directly.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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