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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...

Ratings agency Fitch yesterday downgraded Bermuda’s sovereign bond rating to AA from AA+, citing concerns over rapidly rising public debt and giving a bleak economic outlook for the Island. The one-notch downgrade reflects Bermuda’s weak macroeconomi...

Government is gearing up for another huge bond issue to raise cash to fund current expenses and service existing debt. Financial sources we spoke to said the meetings Government revealed this week it was having with potential local and international ...

In the third and final part of a series on Bermuda‘s public debt situation, Nathan Kowalski looks at the factors that can lead to a debt crisis. “How did you go bankrupt?” “Two ways. Gradually, then suddenly.” Ernest Hemingway, The Sun Also Rises...

In the second of a three-part series focusing on Bermuda’s public debt situation, Nathan Kowlaski looks at the the different scenarios that could unfold in the coming years. In assessing potential outcomes in the trajectory of the debt profile in Be...

“Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery.” Wilkins Micawber a fictional character from Charles Dic...

Senate approved legislation to increase the debt ceiling to $1.45 billion, despite the objections of members of the Opposition. Junior Finance Minister Senator David Burt told the Upper Chamber that Government was committed to prudent fiscal planning...

Parliamentarians last night approved a bill allowing Government to withhold its contributions into the civil servants pension fund for a period of one year. The measure frees up $31 million to be applied to the Government’s spending needs during the ...

Massive trade imbalances are driving the current global economic situation. BRIC nations are in for a tough time, meanwhile the United States is on the edge of a credit crisis, says Clem Chambers, CEO of leading financial information site ADVFN.com a...

Debt is a bit like chocolate. It’s good and probably does you no harm (and might do you some good) in moderate amounts, but too much can cripple you. Indeed, anyone who has a mortgage on a home or has borrowed money to start a business will acknowle...