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Bahamas Deputy Prime Minister Addresses IDB Fiscal Policy Frameworks Workshop

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#Bahamas, December 8, 2017 – Nassau – The Deputy Prime Minister and Minister of Finance, the Hon. Peter Turnquest addressed the regional workshop “Rules-Based Fiscal Policy Frameworks for the Caribbean Region,” presented by the Inter-American Development Bank (IDB).   The two-day event was held at the British Colonial Hilton, December 4 and 5, 2017 and brought together stakeholders including representatives of the IDB, government, Central Bank officials and regional policymakers for finance.

Topics for discussion included — International Experience with Fiscal Rules: Criteria of Good Practice and Effectiveness, The Long View: Fiscal Anchors, Medium-Term Fiscal and Budget Frameworks and Growth, Fiscal Institutions to Ensure Fiscal Sustainability and Stability, Design and Implementation of Fiscal Rules, Stabilization Funds and Transparency, Credibility and the Role of Independent Fiscal Institutions.

Mr. Turnquest on Monday said the workshop brings together an “outstanding” group of fiscal experts, policymakers and other practitioners who provide the ingredients for a “fruitful” and “rich” exchange on the topic of rules-based fiscal frameworks.   He said while some regional countries are further ahead than others in undertaking fiscal consolidation, there is “broad” acknowledgment of the need for stronger and more durable measures, equal to addressing the state of the country’s fiscal affairs.

Fiscal and debt sustainability are topical issues on the agenda of regional policymakers, especially Ministers of Finance, both of which are important for promoting stable macroeconomic growth, said the Deputy Prime Minister.

0G7A1729“By virtue of our responsibilities, we grapple with the challenging dimensions of our budgetary choices—considerations such as: whether we are obtaining value for monies spent; their impact on future generations from the standpoint of equity; the need to build up buffers to deal with sure and certain adverse shocks; and maintaining credibility in external markets, partly because of our dependence on foreign direct investment.

“The need to accelerate our fiscal sustainability efforts has become more imperative, given the less than desirable state of our finances and the ongoing external vulnerabilities we face.   To be sure, for most of us, the fiscal space we enjoyed prior to the onset of the recent global financial crisis has been depleted,” said Mr. Turnquest.

He remarked that deterioration in the overall deficit and the public debt levels are key sources of risk to the country’s maintaining economic stability, and the general view is that it cannot continue along the same path.   The country’s current state of affairs has crystalized the need for “urgent” measures to restore medium-term budget and debt sustainability, and a more credible fiscal consolidation programme.

“The path to recovery which, because of the nature and extent of the reforms necessary, will not happen overnight.    Nor will it in any sense be easy or painless. Instead it requires a multi-year approach and a well-designed framework, to take account of all of the considerations and the tension between pursuit of the necessary reforms and the economic growth agenda.  And it takes political will, resolve and leadership.

“At this stage, what is important is that the Government has identified and is moving, with a sense of urgency, to execute on a concrete strategy that will: bring stability to the public finances by reducing the deficit and the debt to sustainable levels; grow the economy and provide jobs; and remove obstacles to growth and competitiveness.”

By: Kathryn Campbell (BIS)

Photo Captions:

 

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The Hon. Peter Turnquest, Deputy Prime Minister and Minister of Finance, pictured at the IDB workshop on Monday, December 4, 2017.  (BIS Photo/Patrick Hanna)

 

 

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The audience at the workshop.   (BIS Photo/Patrick Hanna)

 

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Twist To Win Ends in a Grand Style with Four $5,000 Mall at Marathon Shopping Sprees  

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Twist To Win grand finale winners (l-r) Brian Bethel, Taraceta Neely, Ashia Demeritte and Merlin Adams posing along with their winnings from the shopping spree.

NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products concluded their 10 weeklong Twist To Win campaign with four $5,000 Mall at Marathon shopping sprees.

The campaign which was available throughout the entire Bahamas allowed consumers to enter by purchasing a 20oz bottle with a yellow cap from the following brands: Coca-Cola, Coca-Cola No Sugar, Sprite, Fanta Orange, or Fanta Grape. Each yellow-cap had a unique alpha numeric code underneath which they submitted to the Twist To Win WhatsApp number.

With each qualifying purchase, participants residing in The Bahamas were entered to win instant prizes and into a grand prize draw to win one of four $5,000 shopping sprees at the Mall at Marathon.

Participants also enjoyed exciting instant prizes such as: Airpods, JBL Speakers, premium Coca-Cola merchandise, $500 Visa gift cards and Amazon, Spotify and Apple Music digital gift cards.

Out of 76,000 plus submissions, Brian Bethel, Ashia Demeritte, Merlin Adams, and Taraceta Neely won the coveted Mall at Marathon shopping sprees at the following select stores, Kelly’s House & Home, The Sports Center, John Bull, Brass & Leather, and BTC.

Leading up to the grand finale shopping spree, Coca-Cola hosted a Trivia Showdown with the eight finalists to determine the four winners. Finalists were tested on their knowledge of World History, Pop Culture, Caribbean Bottling Company and Coca-Cola Facts!

After a few rousing rounds of trivia, the four winners were declared after each winning their spot in the shopping spree by answering their questions correctly and choosing the “Grand Prize” Coca-Cola labeled bottles at random.

The morning of the shopping spree Coca-Cola gave the winners exclusive access to the Mall at Marathon and its participating stores before their usual operating hours. Grand prize winners were greeted with wide smiles from Coca-Cola brand representatives and morning bites before the big event.

At the start of the thirty-minute clock the grand prize winners along with each of their Coca-Cola shopping assistants ran to the various stores collecting items in their arms and carts.

Merlin Adams, a husband and father of four was proud to have executed his game-plan at the end of the shopping spree. With toys, a new phone and materials for his home from Kelly’s, Adams felt accomplished in what he gathered.

Taraceta Neely, a winner from Eleuthera collected beautiful bags for herself and relatives from Brass and Leather and Brian Bethel bought matching athletic and outdoor wear from The Sports Center for his family.

The final winner Ashia Demeritte bought linens and household items in addition to a new phone from BTC right in time for Christmas.

Caribbean Bottling Company is proud to share the real magic of Coca-Cola with the grand prize winners and the may instant prize winners across the Twist To Win campaign. For more updates on new products, promotions, and events follow www.cbcbahamas.com.

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 The Coca-Cola Art Project Astonishes Art Lovers at The Bahamas Culinary & Arts Festival  

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NASSAU, Bahamas — Caribbean Bottling Company (CBC), local producers and distributors of Coca-Cola and Dasani products displayed their astonishing Coca-Cola Art Project (CCAP), during Baha Mar’s five-day Culinary & Arts Festival.                                                                                                                                                                              Earlier this year, Coca-Cola partnered with The University of The Bahamas’ Visual Art and Design Department for a culturally rich art competition. UB’s art students were challenged to create pieces surrounding the theme, Bahamian music.

As a result, 20 student works of art were made, with four students declared as winners at the CCAP exhibit opening in Baha Mar’s ECCHO: Art Gallery in August. To recreate the culturally stimulating magic felt at the exhibit’s premiere, the CCAP was featured at the FUZE Art Tent during The Bahamas Culinary & Arts Festival.

Nine incredible pieces of art lined the walls of the Coca-Cola Art Project, four of which included the winning pieces from Jhanaisia Cole, with ‘Gaulin Bride’; Alyssa Pinder, with ‘Shotgun Wedding’; Nelson Gray, with ‘Untitled’; and Jaela Bowe, with the piece ‘Whims of Obeah, a Folktail’.                                                                                                                                                                                                                     Additionally, an intimate listening room was built. It displayed students’ artistic processes, UB Visual Art and Design representatives, and a recap of the exhibit opening for audiences.

Art enthusiasts also enjoyed premium limited-edition CCAP keepsakes at the booth. Journals which featured a collage of all 20 student submissions on the front and back cover, postcards with an art piece on the cover along with the student’s name, title, dimension and materials on the back and pens designed with the CCAP’s dynamic logo.

Throughout the art festival diverse groups of people visited the art tent taking in the displays while enjoying the artistic insights from the listening booth.

Community and culture are always at the forefront of Caribbean Bottling Community, and it was boldly showcased during The Bahamas Culinary & Arts Festival for the third consecutive year.

For more details on the Coca-Cola Art Project, events and new products visit www.cbcbahamas.com today!

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CWS Brings a Galore of Bubbles at Annual Jollification Festival  

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Caribbean Wines & Spirits team members smiling behind one of the company’s two bars at Jollification

NASSAU, Bahamas — Caribbean Wines & Spirits (CWS), The Bahamas’ premier wines and spirits distributor delighted Jollification attendees with bubbles from their Bottega and Bouvet Ladubay sparkling wines and Besserat de Bellefon champagne lines.

Located in the Monument Circle on The Retreat grounds, CWS transformed The Retreat Garden into a lush lounge with Besserat, Bouvet and their latest product addition, Bottega, during the two-day affair.

The festivities kicked off Friday during BNT Member’s Night. Guests enjoyed exclusive offerings from CWS’s catalogue, offered exclusively to members.  Complimentary mixes or glasses on the rocks included El Tequileno tequila, Hard Truth whiskey, House of Angostura rum, Cross Keys gin, Nemiroff vodka and a slew of wines such as Fonesca Bin, Bottega and Besserat.

Guests also savored the ‘Jolly Paloma’ cocktail, an instant favorite made with El Tequileno tequila, Schweppes Grapefruit and Domaine de Paris rose wine.  To end the night, guests were treated to branded limited-edition wine tumblers as keepsakes.

On Saturday and Sunday, Jollification attendees delighted in glasses or bottles of champagne and sparkling brut or rosé wines while taking in the comfort of the chic lounge.  In addition to purchasing bottles for onsite consumption, consumers were also able to purchase bottles as gifts whether for themselves or someone special.

The sophisticated “bubble lounge” lounge was decked with velvet couches, gold rimmed cocktail tables, blue and pink pillows, and a white floral branded backdrop created for capturing the perfect picture.

Caribbean Wines & Spirits, a historic partner of the Bahamas National Trust was pleased to support Jollification 2025 to kick off the festive season and share their expansive range of spirits.

To keep up to date with all CWS products and events, visit their website at www.cwsbahamas.com today.

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