Government to pay back 1.2 billion dollars on a $600m loan!

0
1883

Country headed to the dunghill with Minnis and Peter Turnquest – Borrowing climbs to $5.1 billion with nothing to show for it!

Prime Minister Minnis and Minister of Finance, Peter Turnquest; Lost in Space on the economy!

NASSAU| Governments would have normally pay around 2% on a ten year loan. PETER TURNQUEST, however, has landed the Bahamas in a loan of 8.95%. What does this mean?

We are now paying $53 million each year over the life of the bond. So we borrowed $600 and will pay in principal and interest 1.2 Billion Dollars back. Boy, I tell ya.

The Minnis government has now borrowed some $5.1 Billion in just over three years and don’t have a damn thing to show for it.

I believe when you now look at these numbers that is more money than was borrowed in the 25 years of both the Christie and Ingraham Administrations.

But again…what Minnis gat to show yinner?

We just write the news…yinner decide on it!