The Bahama Journal – Jones Communications Network

The near collapse of the economies of Abaco and Grand Bahama caused by Hurricane Dorian will drastically reduce the government’s income for a few years.  According to Deputy Prime Minister and Minister of Finance Peter Turnquest, it is estimated that the country’s revenue will be hit with a $200 million shortfall because of the hurricane’s […]

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Deputy Prime Minister and Minister of Finance Peter Turnquest delivered good news in the House of Assembly yesterday, regarding The Bahamas’ position with the Organization for Economic Co-operation and Development (OECD).  DPM Turnquest, while seconding amendments for a compendium of bills related to the financial services sector, said The Bahamas has passed the assessment of […]

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Reacting to  the report by the Department of Statistics that the Bahamian economy grew by 1.6 percent in 2018,  the Deputy Prime Minister and Minister of Finance  K. Peter Turnquest says,“this is the first time the country has had decent economic growth in over five years. When we look at where we are now compared to where we […]

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Finance Minister Peter Turnquest yesterday announced in the House of Assembly that The Securities Commission of The Bahamas completed the cryptocurrency draft legislation for public consultation.  This, he said, gives The Bahamas “a clear, competitive advantage with respect to digital asset solutions as financial technologies continue to drive growth in the financial services sector”.  He […]

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The Minister of Finance, K. Peter Turnquest, went to great lengths yesterday to explain the reason and rationale behind the latest borrowings of the government. The Minister was able to restructure  loans and get the interest rate reduced from six and a quarter to six per cent. Addressing members of the House of Assembly, Mr. […]

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The government has given The Bahamas Development Bank (BDB) three years to get its financial housing in order.   Within that time frame Minister of Finance Peter Turnquest said the government intends to pull the plug on the $3million dollars it gives in support to the BDB’s bond interests.   “We want to make sure […]

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Following one working day of that controversial verification and restatement process, Deputy Prime Minister and Minister of Finance Peter Turnquest told reporters that there were a few minor issues, but overall he is satisfied with how things played out thus far. The issues of long lines he spoke of were attributed to confusion as it […]

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