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Government debt

Opinion Writer

How serious is Bermuda’s public debt?

This week, Nathan answers the questions we put to him about Bermuda’s fiscal situation and what can be done to improve it. Just how serious is Bermuda’s public debt? A major tipping point in regards to future solvency occurs when the average intere...
Dec 05, 2012
Politics

"The challenge of repairing public finances"

The issue of how to reverse the rapid deterioration of public finances is politically touchy. Neither public spending cuts, nor increasing government revenues will be popular and so if the parties have any plans for either, specifics and numbers have...
Nov 29, 2012
Politics

"Hefty public debt problem awaits election winner"

Whichever party wins the general election next month, political victory will come with the heavy responsibility for huge public debt and the need for unpopular decisions on government spending and revenue. By the end of the fiscal year in March next ...
Nov 23, 2012
Other

"Dealing with the downgrade: An action plan for Bermuda"

It is said they often don’t do it fast enough, or in language firm enough, but in the drill-down the ratings agencies tell it like it is. Last week, Fitch Ratings made it unanimous with Standard & Poor’s and Moody’s: Bermuda goes down one notch in it...
Jul 04, 2012
Politics

"Warning over Govt’s ‘orgy of debt’"

The sale of bonds hailed as a success by Government may not be the good news the PLP are claiming, according to Shadow Minister Bob Richards. Speaking in the House of Assembly on Friday at the Motion to Adjourn, the One Bermuda Alliance MP said that ...
Jul 02, 2012
Other

"Chamber proposes new advisory board to tackle public debt"

The Chamber of Commerce has proposed to Cabinet that a Public Debt Advisory Board be set up to tackle Bermuda’s $1.42 billion net debt. The paper, Developing a Strategy to Manage Bermuda’s Public Debt, was prepared by businessman Kirby Brackstone, a ...
Jul 02, 2012
Opinion Writer

"We need to reduce our debt"

My deep concern is that no one has been spared from the ravages of our economic malaise and what is being done to remedy the situation. Each one of us has been affected by or experienced at least one of the following: * Businesses having difficulty ...
Jun 29, 2012
Editorials

"Building up debt"

Although Government finances are more complex than household finances, the basic principles are the same: l If you find yourself running out of money before the next pay cheque, or can't afford to pay the rent or the groceries, you have to cut your s...
Jun 29, 2012
Other

"Debt hole is getting deeper, warns Richards"

Government is leading Bermuda into a deep financial hole that it will take decades to get out of, said Shadow Finance Minister Bob Richards in response to the Island’s credit rating downgrade by Fitch. At a press conference staged yesterday by the op...
Jun 28, 2012
Other

"OBA: Fitch downgrade will cost taxpayers $15m"

The downgrade of Bermuda’s credit rating by Fitch will cost taxpayers $15.5 million in extra interest payments on this week’s Government bond issue, according to the opposition One Bermuda Alliance (OBA). In a press conference today, Shadow Finance M...
Jun 27, 2012
Other

"Govt raises $475m with bond sale"

Government yesterday raised nearly half-a-billion dollars in a bond sale that was four-times oversubscribed. The mostly international investors who bought the $475 million of ten-year notes will be paid an interest rate of 4.13 percent. Last night t...
Jun 27, 2012
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