Bahamas budget deficit estimated at $500 million

first_img Share Sharing is caring! Tweet Share Sharecenter_img NewsRegional Bahamas budget deficit estimated at $500 million by: – May 23, 2012 48 Views   no discussions Bradlet Roberts. Photo credit: thenassauguardian.comNASSAU, Bahamas — Progressive Liberal Party (PLP) Chairman Bradley Roberts revealed on Monday that the incoming Christie administration in The Bahamas has met a budget deficit of around $500 million, and said he would be ‘shocked’ if criminal charges are not brought after an investigation into the management of public funds by the previous government.Asked about this figure on Monday, Prime Minister and Minister of Finance Perry Christie told The Nassau Guardian he was not sure of the figure that his team had come up with as he was busy preparing the Speech from the Throne.He suggested that The Guardian speak to Minister of State for Finance Michael Halkitis.However, Deputy Prime Minister Philip Brave Davis confirmed the figure when he spoke to The Nassau Guardian on Monday.Davis blamed the Free National Movement (FNM) government’s “mismanagement” and “abuse” of the public purse.Davis, who is the minister of works and urban development, also said the PLP administration has launched an investigation into the former government’s management of public funds and added that criminal charges may follow.“Now that we’re in, and looking at what the true facts are, we are definitely approaching the $500 million deficit range,” he said after a swearing in ceremony for 10 senators.“We are doing our investigations with a view to see if we ought to prosecute someone for the abuse that has taken place with the public purse.”When asked who could face prosecution, Davis said, “Once we find where the trail ends and where the buck stops that will be the person.”Davis added that the Christie administration will likely have to borrow a little over $500 million in the 2012/2013 fiscal year as a result of the previous administration’s spending and to make good on the new government’s pledges to the Bahamian people.Roberts made the same declaration when he spoke to The Nassau Guardian after an appearance on the More 94.9 FM program “Real Talk Live” with Ortland Bodie, where he originally made the revelations.The borrowing would add to the national debt, which is currently hovering at just over $4 billion.Davis told The Guardian, “We will have to borrow that and borrow additional funds to be able to implement some of our initiatives and programs.”He claimed the high deficit is the result of the Ingraham administration’s negligence and bad planning.“The deficit, there is no doubt in my mind, is due to mismanagement, politics and priorities,” he said.Roberts said that several programs launched by the FNM administration, such as Self Starter and Jump Start, were election ploys that went over budget.“The budget on the jobs program was $25 million. I understand that will exceed or closely exceed $50 million,” he said.“The Jump Start program has also gone through the roof, I’m advised. They spent more money than was budgeted.”“The full details of it are all going to come out in due course. The way I understand some of those were implemented, my God, it will make all Bahamians sick to their stomach.“Some people never even reported to work and were getting paid. Some people would go to work and sit around doing nothing. Some of those jobs were only given out a day before the election, some on the election [day].”Davis could not confirm if these programs were indeed over budget, but said he too thinks they were election ploys.Three weeks before the May 7 election, Christie, who at the time was leader of the opposition, said the PLP would likely have to borrow at least $300 million in order to finance the country’s capital expenditure commitments if it was elected to office.By Taneka ThompsonNassau Guardian Senior Reporterlast_img read more

MMA sports roundup

first_img Bio The athletic directors of the eight conference institutions voted in the summer to name the trophy for Mottola, who had a four-decade association with the conference and served as its commissioner for eight years.MMA is one of only two remaining charter members of the NEFC dating back to 1965, and is the only member with a presence throughout its existence.This is placeholder textThis is placeholder textThe dedication was held at halftime of MMA’s 34-9 exhibition game football win over Holland College of Prince Edward Island, Canada.The Mottola Trophy, commissioned by Endicott College President Richard Wiley, will be held for one year by each team that wins the NEFC championship. The name of every champion dating back to 1965 is engraved on the trophy.The MMA football team will open its conference season on Saturday at Anna Maria College.Women’s soccerMMA’s Lady Mariners scored a 1-0 win over the University of Maine – Presque Isle on Friday, the opening day of the Terrier Women’s Soccer Classic hosted by Thomas College.Morgan Libby provided the winning goal, heading in a corner kick cross from Briana Obshatkin in the 87th minute of the game.The Lady Mariners fell 1-0 to the University of Southern Maine in the final round of the classic.MMA held the Huskies scoreless for nearly 84 minutes until C.C. Pelletier scored on an assist from Analies Ross-Dyjak.The 2-2 Lady Mariners are slated to host the University of Maine – Fort Kent today (Thursday).Men’s soccerThe Mariner men notched their first win of the season on Saturday, nipping the University of Southern Maine 1-0 in the final round of the Husson University Eagles Challenge Cup tournament in Bangor.The game-winning goal came in just the sixth minute of play when Gabriel Warren scored on an assist from Christopher Gilman.The Mariners outshot the Huskies 27-2.In the opening round of the tourney, MMA fell 1-0 to Gordon College on Friday.VolleyballThe still-winless Lady Mariners dropped a pair of non-conference matches on Saturday at Colby College in Waterville.Colby scored a 3-1 victory over MMA with game scores of 25-16, 16-25, 25-15 and 25-13.For MMA, Gillian O’Neal had 12 kills, Sydney Robertson had 10 kills and Betsy Trenckmann had 22 assists and 11 digs.In a 3-2 loss to Gordon College, MMA rallied from a two-game deficit before falling in the final decisive contest.Game scorers were 25-13, 25-17, 15-25, 23-25 and 15-6.O’Neal had nine kills and Molly Marcotte had eight for the Lady Mariners.Cross-countryMMA freshman Zachary Kinsman placed second at Saturday’s Husson Harrier Classic with a time of 29:34.70 in the eight-kilometer cross-country contest.Two other Mariner men also placed among the top 10 as MMA finished second as a team, just four points behind the University of Southern Maine.MMA’s Wyatt LePage was eighth in 31:13.96 and Chase Hughes was ninth in 31:37.09.For the Mariner women, who were third in their team competition, Jessica Faltings led the way with an eighth place finish in 24:39.20 over the five-kilometer course.GolfIt took a fifth player to give the University of Maine – Presque Isle a win over MMA in UMPI’s season-opening golf invitational on Friday in Presque Isle.The two teams completed the match with identical scores of 323, but UMPI’s fifth man, Eric Depner, carded an 81 to best MMA’s Karson Eaton, who had an 87.For MMA, Dan Mackenzie led the way with 77, followed by Keenan Kalthoff 78, Kevin Pepin 82 and Liam O’Leary 86. Latest posts by Hugh Bowden (see all) Is this the kind of government we deserve? – July 10, 2017 Latest Posts CASTINE  — A new New England Football Conference championship trophy was dedicated Saturday to Bill Mottola, a longtime coach and athletic director at Maine Maritime Academy. Like he did in the ’60s, Noel Paul Stookey sings out in troubling times – December 27, 2017 Hugh BowdenExecutive EditorHugh writes editorials, covers Hancock County sports and helps out where needed in The American’s editorial department. When he’s not on the sidelines, he enjoys playing jazz and tennis. hbowden@ellsworthamerican.com GSA surges in 4th to win Northern Maine title – February 26, 2017last_img read more