Is the Treasury of the Bahamas is BROKE?

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ingraham-in-yellow-parliament<<< Prime Minister Hubert Ingraham, Minister of Finance.

Nassau, Bahamas — It is absolutely unbelievable but from all indicators it could be true, information now being gathered by forensic accountants in the ministry of finance raises the question as to whether the Public Treasury of the Commonwealth of The Bahamas is BROKE as they revealed the government’s account in the Royal Bank of Canada has run in deep overdraft.

BP has gone deep off the edge on this one and with explosive information in hand, we question the frankness of the minister of finance and his bragging Canadian trainedfarmer braineconomist. They both have much explaining to do to the Bahamian people. BP has learned there is little money left in the treasury [COOKIE JAR] to pay current bills incurred by the Ingraham government and to make matters worse the government has reached its maximum ability to borrow more funds from international lenders.

This incredible news being discovered by Bahamas Press reporters on the ground are indeed shocking, and it is believed to be the reason for the government’s distraction plan in plotting a by-election in Elizabeth.

An accountant in the Sir Cecil Wallace Whitefield Building has confirmed to BP the Ingraham government is now running deep in the red, causing pressure to steam on its ability to pay bills. The accountant told BP, “We are in the most serious crisis of our lives in the Bahamas. To date, the government of the Bahamas is finding grave difficulty in paying its debts. We have a situation where government workers must be shaved in the most drastic fashion in order keep the country stable. WE ARE IN CRISIS!”

The government began that shaving exercise this month [January] as it closed the Bahamas Hotel Corporation doors and sent all its staff home.

laing-dscf8364.jpgSuch a crisis was thought to be headed off as current junior minister of finance, Zhivargo Laing, in February of 2009 during a reception at the official launching of Generali Worldwide. The minister then said, “Recessions are general declines in economies but they don’t suggest there are not pockets in the economy that can still thrive. So you can have niches of positive growth even in a recession struck economy.” However, readers would note the Ingraham government ended the year racking up a national debt of over $872 million in two short years; almost equally the total debt incurred in 25 years by the Pindling government. WHERE DID ALMOST $1 BILLION UNDER INGRAHAM’S WATCH IN LESS THAN 3 YEARS GO? WHERE ARE MEMBERS OF THE WUTLESS MEDIA ON THIS ONE?

Readers would also remember Laing telling the Bahamian people in January of 2010 at the Bahamas Business Outlook Conference that there are signs of recovery, thus hinting an end of the financial crisis now fanning the Bahamas and calming fears that our state-of-affairs were not so severe. Laing should note that in 2009, the same year he taunted growth in sectors, more than 1 Million tourists didn’t show up in the Bahamas and this is just the tip of our findings.

police-church-service-2008-004.jpgReports coming into BP have also confirmed while the Ingraham sent home some nine [9] police officers in December of 2009 on early retirement leave, to date, due to the government’s FINANCIAL CRISIS with a possible BROKE TREASURY and fear of a collapsing dollar, none of the officers have received their packages including their gratuity and vacation pay.

This simple suggests the government is broke and cannot pay the officers,” the accountant said. And that’s not all.

The accountant confirmed, “Teachers hired in September have yet to be paid. The fact is that there is no money to pay them because the files of these people are still in the human resources department waiting on financial clearance.

bethelcarlfnmconv09One teachers was hired to quell a sit-in at C. I. Gibson Senior High as a Language Arts teacher. The educator was not told there was no money to pay a salary. The Ministry of Education has basically said there is no money to pay and does not know where the money would come from at this time.”

Readers would remember in August of 2009, former Minister of Education Carl Bethel informed the public of the suspension of the Student Loan Guaranteed Programme following his firing of some 60 teachers in the MOE prior to that announcement. To make things look pretty he suggested the government was hiring teachers from the College of the Bahamas. Could this be why he was tossed out of the class [Cabinet]? Inquiring minds want to know!

As the nation reels in this financial CRISIS; hitting the Ingraham lead government hard where it hurts, we at Bahamas Press avoid the SMOKE AND MIRRORS crafted by MUGABE and his tribe of smoking goons as they toy the nation with a bogus, unnecessary by-election. We wish, however, to ask onequestion we know members of the public seeks to know after all this new revelation: “Is the Treasury of the Bahamas is BROKE?”

13 COMMENTS

  1. Well i am convinced that obeah is the reason the fnm won the last election. i still refuse to believe that bahamians are that stupid. and let me just say this. Lawyers are horrible at business management. Until yawl bahamians come to the realization that the bahamas is a business and should be treated as such we will forever be far behind the world. this country needs to stop BORROWING money and begin to GENERATE its own funding. its  not like we dont have the resources to do so. how stupid are the ppl of the bahamas to stand by and allow that stupid hubert man to discontinue the scholarship program when we should instead be PAYING the younger generation to go off to school and get educated in our hotel and tourism industry so we can one day BE IN CONTROL of our only profitable industry. how stupid are bahamains that we sit by and do nothing about taking back that industry from the kerzners of the world who have been making billions of dollars from our country and only giving millions back to us. the billions of dollars made IN THE BAHAMAS should be STAYING IN THE BAHAMAS. I think its also very disturbing that lying laing was educated in farming and he has done NOTHING  to bring about a revamping of our agriculture industry. change must come in this land for if not very soon we WILL become poor and perilous.

  2. Bahamas Press I understand that the Minister of State for Finance graduated with a degree in agricultural economics, is this correct?

    • Didn’t you hear us say, “his bragging Canadian trained ‘farmer brain’ economist”. This is true. But guess what else is true, Zhivargo ‘Cry Baby Sour’ Laing was NOT BORN IN THE BAHAMAS! How about that one.

      Bahamas Press/Editor

  3. For a second time Leon the Bahamian economy is destroyed by an FNM government and yet they have the gall to suggest they are a government with STEADY HANDS and TRUSTED LEADERSHIP. MY FOOT! We gata be fools to believe that!

    BP

  4. This is indeed a shocking turn of events in contrast to 2007. It is clear and simple, Zhivargo “LYING” Laing is only a theoritical economist…, when it comes to practical management he is a retarded economic dunce….. Now we have to work so hard when we are re-elected to office to fix this economy again. This economic disaster which we now face brought upon by careless and harsh decision making will be the downfall of our prided Bahamian economy… GOOD BYE TO MY MIAMI TRIPS ON THE WEEKEND. GOOD BYE SAW GRASS, GOODBYE WALMART…By the time i see gainful employment again my grand children will probably have grand children…..HUBERT, I THINK YOU WILL HAVE TO CUT YOUR OWN HANDS OFF ON THIS ONE….. “YA THIEFIN BUGGER”!!!!!!!!!

  5. Well they can always do like Pindling and the PLP did and borrow from the NUMBERS MAN!!!Percy Munnings dead – but I’m sure Flowers will lend them something.

  6. Obviously Sade, has a comprehension problem and cannot think and analyze for herself. She has to be excuse as she only knows that she is FNM please her for not being very bright . She too graduate with a D average

  7. Sade, Ingraham said in the House in June 2007 that the PLP left the Treasury full but that the people did not want Christie, they wanted Ingraham. In November 2007, Laing said that there was no recession. he said that it was a figment of the PLPs imagination.

  8. Have just received word that some of the new teachers hired from August received payment yesterday.What a nonsensical suggestion from Sade. If she gets a pain in her belly she is likely to blame the PLP. Wake up Sade and get real!!!

  9. Of course it is broke.  The PLP raided it.  Like takin’ the bank account away from an addict – takes awhile to build it back up.

    • Obviously this level of discussion is beyond your capacity so just stay out of big men and women conversation.Having nothing to add does not call for joking around to digress from the discussions.

      • Russell this is why i dont post here to much anymore. There are people who just talk out of their butts and dont bring anything to the debate other than than partisanship. Sade seem to forgot or does not know the state of the economy before HAI took over. To say that the treasury is broke because the PLP raided it is ludacrious, careless and irresponsible.

  10. I heard this story on the streets and understand that the Deputy Prime Minister might have been responsible for paying the salaries of civil servants many times last year.Some persons in Elizabeth have supposedly received cash to vote red and am wondering where that money came from.Boy things are very tough and I understand that many Casinos abound throughout the country and am not speaking of the web shops that abound.

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