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Bermuda’s debt ceiling will be raised by $250 million after Curtis Dickinson, the Minister of Finance, tabled legislation allowing the Government to pay lenders over the failing Caroline Bay development. The Government Loans Amendment Act increases B...

An interactive wellness programme for government employees will be launched next month in an effort to tackle the $12.8 million cost of public sector sick leave. Workers were urged to take on the team-based challenge as part of a Throne Speech pledge...

Dear Sir, The letter from Beverley Connell on the subject of political bickering and financial extravagance in government media communications published by you on April 26 was right on target. How on earth does a government gainfully employ 30 emplo...

The Bermuda Government is to suspend payments into the sinking fund, a home for money set aside to pay down long-term debt. In his maiden Budget Statement yesterday, Curtis Dickinson, the Minister of Finance, said it did not make financial sense to b...

Dear Sir, The Government recently released its 2018 Digest of Statistics Report, providing an annual summary of various socioeconomic statistics covering the period 2007 to 2017. It is a lengthy document and is well worth a read for those who have th...

In the third of a five-part series examining the impact of the ageing of Bermuda’s population, we look at government finances. Bermuda’s burgeoning national debt is the millstone that impacts not just today’s generation of taxpayers, but will also af...

The Fiscal Responsibility Panel report reviewed the evolution of the all-important debt/revenue ratio under different scenarios — and also included a projection based on the recommendations of the Tax Reform Commission being implemented by Government...

An increase in taxes is far more likely to be in our future than meaningful cuts to government expenditures, with the exception of government’s intention to trim expenses by identifying more efficient ways of delivering on its obligations. The island...

The Auditor-General said today there were two reasons why her audit opinion to the Government for its 2017-18 accounts was qualified. Heather Thomas explained there was insufficient evidence for $10.3 million of capital development and a “critical” v...

Bermuda is preparing to sell at least $500 million in new notes next week, the Latin Finance website reported. The manoeuvre is aimed at refinancing government debt in an effort to lock in a favourable interest rate, while also meeting additional bor...

The Government of Bermuda has announced tender offers for up to $424 million of its debt. This means that the Government has offered to return principal to creditors early, at a certain price and time. The offer applies to all of its 5.603 per cent n...

The Bermuda Government’s finances are tracking broadly in line with budget estimates for the first six months of the fiscal year. For the six months ending September 30, the Government’s total expenditure was $584.3 million, just under 50 per cent o...