By Jerry Roker
For Bahamas Press
The subject of this letter pretty much expresses my personal view of the recent downgrade of our country by Standard &Poors and I will tell exactly how I came to this conclusion, daring all and sundry to challenge same.
It is my knowledge and information that the reviews
conducted by these rating agencies are based almost exclusively on historical data and facts on the ground together with future anticipated happenings and projections.
What are the facts on the ground?
*The Bahamas has never missed a loan payment
*We are no where near an IMF takeover
*We improved from a deficit of over $500 million in 2012 to a projected deficit of $100 million for the fiscal year 2016/2017 (2 super hurricanes in successive years will no doubt throw this out of whack)
*In addition to Bahamar, there are numerous other FDIs and local investments in train and coming to fruition beginning the first quarter of 2017.
As a point of reference, it is very instructive for me that companies the FNM’s apparent spokesman on economic matters, Mr. Dionisio D’Aguilar, until he was apparently silenced in favor of its deputy leader, are associated with, have been expanding their operations like they had some insider information.
And trust me, they do. Smart businessmen don’t expand unless they see stability and growth in the economy.