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Finance Minister Bob Richards has resolutely defended plans to forge ahead with cost-cutting reforms of the Civil Service, saying that, unless action is taken, Government will soon be broke. At a packed and often emotionally charged public meeting at...

Government will be hosting a town-hall meeting on SAGE Commission Recommendations tomorrow evening. The meeting, to be hosted by Finance Minister Bob Richards, will be aimed at communicating high level policy decisions Government has taken with respe...

Government trimmed its current-account spending by more than seven percent and booked an increase in revenues during the first quarter of its fiscal year, the Ministry of Finance revealed today. Finance Minister Bob Richards said in yesterday’s fisca...

Government trimmed its current-account spending by more than seven percent and booked an increase in revenues during the first quarter of its fiscal year, the Ministry of Finance revealed today. Finance Minister Bob Richards said in yesterday’s fisca...

Fitch Ratings has downgraded the Bermuda Government’s credit rating by a notch, but predicts a return to economic growth for the Island next year. The Island’s long-term bond rating from Fitch is now A+, the fifth-highest investment grade, down from ...

Fitch Ratings has downgraded the Bermuda Government’s credit rating by a notch, in the wake of a fifth consecutive year of recession in 2013. In its commentary, the rating agency says Bermuda has a weak fiscal position, given Government’s large debt ...

Bermuda’s AA- credit rating has been affirmed by Standard & Poor’s Rating Services — but the negative outlook on the rating remains in place. Finance Minister Bob Richards said he “expected” Standard & Poor’s affirmation of Bermuda’s long- and short-...

Finance Minister Bob Richards has emphasised the immense amount that the Government is spending on interest for debt as the House of Assembly’s debate on the 2014/15 Budget continued. Delivering his budget brief for the Ministry of Finance, Mr Richar...

Any future bond issues by the Bermuda Government will allow more time for investors to get on board, Finance Minister Bob Richards has said. And Mr Richards added that, rather than lowering the minimum $10,000 investment, more time would allow smalle...

A massive $50 million Government bond has sold out, Minister of Finance Bob Richards said today. Mr Richards added that more than two-thirds of the bond orders — aimed at raising cash to reduce the Island’s debt — went to smaller investors and 90 per...