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BAHAMAS: Government taking deliberate steps to cushion impact of fiscal measures on the poorest households

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#Nassau, June 8, 2018 – Bahamas – Deputy Prime Minister and Minister of Finance, the Hon. K. Peter Turnquest said in light of the fiscal measures, which call for a shared sacrifice from all, the government is taking deliberate steps to cushion the impact on the poorest households.  The 7.5 per cent cost savings on breadbasket items will directly impact the most vulnerable Bahamians in a tangible way, DPM Turnquest said during his Contribution to open the 2018/19 Budget Debate in the House of Assembly, Wednesday, June 6, 2018.

“Unfortunately, there has been a lot of sarcasm around the breadbasket with the inclusion of items like corned beef. This is somewhat understandable in the context of our healthy lifestyle push.

“But this exercise is not about corned beef. The breadbasket contains substantive items that many Bahamians want to consume and are financially constrained to consume. So let us not scorn those Bahamians whose lifestyles are based on the breadbasket.

“This government did not invent or create the longstanding breadbasket list. Rice, soup, cheese, evaporated milk, and yes, corned beef, are the basics that Bahamians, particularly poorer families, rely on for their survival.”

He said the 7.5 per cent savings that the government is implementing by removing VAT from the breadbasket, as promised will make a difference.

“Just think of the relief for a family when it comes to the cost of buying baby food; these targeted measures will make a difference for those families trying to sustain themselves with the basics.”

The DPM said importantly, the Consumer Protection Commission and the Price Control Commission have an important role to play in ensuring the various tax exemptions are passed on to the consumers, particularly with these price-controlled items.   The Finance Minister said he could appreciate that for some Bahamians, these savings might seem meager and unimportant, but this government has committed to prioritising the vulnerable and the neglected.

“Yes, we will re-shape the breadbasket over time, in concert with a public education exercise, but our immediate actions are designed to provide some cushion as the country goes through this period of shared sacrifice.  We will not continue the past practice of neglect and we will not allow vulnerable Bahamians to be left behind or run over by the substantive changes that are now taking place.”

He said the same principle applies with the VAT savings on utilities.

DPM Turnquest said social progress goes hand in hand with increased economic freedom; and this requires that Bahamians have more opportunities to create their own jobs and to be more competitive in the private sector.  He said although the government is the primary employer today, it is laying the groundwork to flip this around. “In a healthy, vibrant economy, it is the private sector – entrepreneurs, small businesses and mature industries – that drive innovation and job creation.

“So, we have included in the Budget $2.6 million worth of investment in scholarships at BTVI so that the cost of skills training and certification is not a barrier for Bahamians seeking to increase their competitiveness.”

The DPM said the government has included in the Budget $5 million to launch a Small Business Development Initiative that will support small and medium-sized businesses, providing them with the incentives and assistance needed to survive and thrive.

“Under this programme, Bahamian entrepreneurs will have access to direct financing; we will also provide support for market research and financial management, and other business support.

“In other words, the government is investing the people’s money to foster a culture of entrepreneurship and innovation, and to increase the competitiveness of the Bahamian labour force.  We want Bahamians to have access to more fulfilling jobs, better paying jobs, and opportunities that will create social progress.”

He said, “To tie it all together, this Budget is a transformational budget because it establishes a new era of fiscal responsibility.  We are drawing a line under the mountain of payment arrears and unpaid bills left to accumulate shamelessly by previous governments.”

DPM Turnquest said, “We are implementing proper and right budgeting for all known spending commitments so that no further arrears build up in the future.”

 

By: Llonella Gilbert (BIS)

 

 

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New GPS Evidence Prompts Fresh Search for Missing American Woman in Abaco

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ABACO, BAHAMAS — Nearly two months after American sailor Lynette Hooker vanished in waters off Abaco, investigators are preparing to conduct a new search based on GPS and navigation data that reportedly challenges the account originally provided by her husband.

The case, which first drew international attention in early April, began when Brian Hooker told authorities that his wife was swept away after falling from an inflatable dinghy during rough conditions in waters near Elbow Cay.

Initial search efforts involving Bahamian and U.S. authorities covered extensive areas of the Sea of Abaco but failed to locate the missing Michigan woman.

Now, according to multiple U.S. media reports, investigators have obtained electronic navigation and GPS data that appears to place the couple’s dinghy in a different location from where searchers initially concentrated their efforts.

The new information has prompted authorities to reopen search operations and seek permission for divers to examine a more targeted area of the Sea of Abaco.

Unlike the broad search that followed Hooker’s disappearance, the renewed effort is expected to focus on a relatively shallow section of water, reportedly about 25 feet deep. Investigators believe the location may offer a better opportunity to recover evidence and potentially answer lingering questions surrounding the disappearance.

The latest development marks a significant shift in the investigation.

What began as a maritime search-and-rescue operation has evolved into a complex multinational investigation involving Bahamian authorities, the United States Coast Guard and the Federal Bureau of Investigation.

Brian Hooker was detained and questioned by Bahamian authorities following his wife’s disappearance but was later released without charges. While investigators have never publicly accused him of a crime, reports indicate he remains a person of interest as authorities continue to examine the circumstances surrounding the case.

Hooker has repeatedly denied any wrongdoing and has maintained that his wife accidentally fell overboard.

The investigation has intensified in recent weeks. U.S. authorities have reportedly seized the couple’s sailboat, Soulmate, transporting the vessel to Florida for forensic examination. Investigators are said to be reviewing onboard electronics, digital records and other potential evidence as part of the ongoing inquiry.

The case has also attracted attention from Lynette Hooker’s family, who have continued to press for answers and support efforts to locate her.

The renewed search comes after Brian Hooker returned to the United States following the disappearance. Reports indicate he cited family reasons, including concerns about his mother’s health, for leaving The Bahamas.

For investigators, however, the focus now appears fixed on the newly identified search area and the electronic evidence that led them there.

Whether the latest operation produces answers remains to be seen. But nearly eight weeks after Lynette Hooker disappeared in the waters of Abaco, authorities believe new technology and new information may finally provide a clearer picture of what happened that night.

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Nassau Opens CDB Annual Meeting at Baha Mar This Week

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NASSAU, BAHAMAS — Regional policymakers, development financiers, economists and international partners are converging on Nassau this week as the Caribbean Development Bank (CDB) stages its 56th Annual Meeting at the Baha Mar Resort from June 1-5, 2026.

Held under the theme, “Forging the Caribbean’s Future: Strategic Solutions for Uncertain Times,” the gathering is expected to place The Bahamas at the center of discussions on some of the region’s most pressing challenges, from climate resilience and energy security to debt sustainability and economic growth.

At the launch of the annual meeting on March 19, CDB President Daniel Best underscored the importance of bringing together leaders from across the Caribbean and beyond at a time of global uncertainty.

“The Annual Meeting provides a strategic moment for the Caribbean, an opportunity for our leaders, governments, development institutions, private sector, youth, and international partners to come together to identify practical solutions that can help the Region navigate uncertainty while unlocking the opportunities that lie ahead,” Best said.

The conference host, newly named Bahamas Minister of Finance and Chairman of the CDB Board of Governors, Michael Halkitis, also emphasized the significance of the event during the March 19 launch ceremony.

“Today’s gathering marks more than the start of preparations for an important meeting. It represents the beginning of a renewed conversation about the future of the Caribbean, about our shared aspirations, our common challenges, and the partnerships that will shape the path forward for our region,” Halkitis said.

He added: “Hosting the 56th Annual Meeting of the Caribbean Development Bank here in Nassau provides an important opportunity to strengthen partnerships and advance meaningful dialogue on the future of the Caribbean.”

Over the five-day meeting, delegates will tackle major issues including energy transition and resilienceinnovative debt solutions for Caribbean economies, and the impact of global economic shocks on regional development.

The programme features a number of high-level events including the Youth FIRE Forum, the William G. Demas Memorial Lecture, the President’s Chat titled Financing the Future: MDB Strategies for Uncertain Times, and a series of policy seminars examining climate finance, infrastructure, economic resilience and development lending.

Among the featured participants are CDB President Daniel Best, Finance Minister Michael Halkitis, senior officials from multilateral development banks, regional finance ministers, central bank governors, economists, development specialists and private-sector leaders. The President’s Chat is expected to bring together leaders of major multilateral development banks to discuss financing strategies for developing states facing mounting economic pressures.

The annual meeting also includes sessions branded “EDGE X by CDB: Analytics Unlocked,” which will explore the economic costs of traffic congestion in the Caribbean and how global crises continue to affect regional economies.

The CDB Annual Meeting traditionally attracts representatives from the Bank’s 28 member countries, including government ministers, senior public officials, development agencies, international financial institutions, youth delegates, academics and private-sector stakeholders. Hundreds of delegates are expected to participate in discussions that will help shape development priorities and financing strategies across the Caribbean in the years ahead.

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

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Afreximbank Annual Meetings Return Next Month; Caribbean Links Remain in Focus

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May 29, 2026 – Two years after The Bahamas made history as the first Caribbean nation to host the African Export-Import Bank’s Annual Meetings, thousands of delegates are expected to gather in Egypt next month for AAM2026.

The 33rd Afreximbank Annual Meetings will be held from June 21-24 in El Alamein, Egypt, under the theme: “Intra-African Trade and Industrialisation: Pathway to Economic Sovereignty.”

The event is regarded as one of Africa’s most important gatherings on trade, investment, finance and economic development, bringing together heads of state, policymakers, business leaders, development finance institutions and international partners.

For Caribbean nations, the meetings hold special significance.

In 2024, The Bahamas welcomed thousands of delegates to Nassau for the landmark event, marking the first time the annual meetings were staged outside the African continent and placing the Caribbean at the center of growing discussions on Africa-Caribbean trade and investment.

Since then, Afreximbank has continued to expand its engagement in the region, promoting stronger commercial ties between Africa and Caribbean countries and exploring opportunities in trade finance, infrastructure development, logistics, investment and private sector growth.

Organizers say this year’s discussions will focus on strengthening intra-African trade, advancing industrialization, building regional value chains and increasing economic resilience amid global uncertainty.

The meetings are also expected to provide a platform for new partnerships, investment opportunities and development initiatives that could have implications beyond Africa, including for Caribbean nations seeking to deepen economic cooperation with the continent.

As leaders prepare to convene in Egypt, the Caribbean’s growing relationship with Afreximbank remains a key part of the institution’s broader vision of expanding trade and investment connections across the Global South.

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

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