Deputy Prime Minister and Minister of Finance Peter Turnquest addressed the Small States Forum held during the World Bank Group/International Monetary Fund (IMF) Annual Meetings in Washington, DC, October 19, 2019.

DPM addressed the Forum on the need for practical financing considerations to address climate events and resilience building in relation to debt management and sustainability.

NASSAU, Bahamas, CMC – The Bahamas government has welcomed a report by the US-based rating agency, Standard & Poor’s that early signs suggest that the Caribbean country is well-positioned to handle the ongoing fallout following the passage of Hurricane Dorian last month.

The category 5 storm, packing winds in excess of 180 miles per hour (mph), slammed into the chain of the island on September 1, causing at least 60 deaths and widespread destruction, mainly in Grand Bahama and Abaco Island.

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This is an excerpt from The New York Carib News as it appeared on October 21, 2019. For updates or to read the current version of this post in its entirety, please click here.

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Pictured: Prime Minister Dr Hubert Minnis announces the $300 million agreement for the second phase of development of the Baha Mar at signing ceremony October 16. (BIS Photo/Yontalay Bowe)

The government of The Bahamas has signed an agreement for the second phase of development of the Baha Mar resort October 16.

The approximately $300 million investment is expected to draw even more visitors to the country and will immediately provide 500 jobs during its construction phase. Job opportunities are expected to total approximately 1,000 in the long-term.

“Today’s signing for Baha Mar Phase Two is a wonderful expression of confidence in the dynamism, renewal and revival of tourism in The Bahamas,” said Prime Minister Dr Hubert Minnis at the signing ceremony held at the Cabinet Office.

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In the aftermath of Hurricane Dorian, The Bahamas must work to correct the misconception that the entire archipelago was affected, according to Dean Spychalla managing director of Valentines Residences Resort and Marina in Harbour Island.

Immediate past president of the Bahama Out Islands Promotion Board, Spychalla says that several island destinations are seeing a slowdown in tourism.

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Deputy Prime Minister and Minister of Finance Peter Turnquest delivered remarks at Ministry of Finance and Inter-American Development Bank (IDB) seminar titled “The Power of Data for National Development” October 9, 2019.

Here follows his remarks:

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Baha Mar and its global hotel brands have been recognized in Condé Nast Traveler’s Readers’ Choice Awards 2019. Conde Nast Traveler recognized each of Baha Mar’s three resort hotels, Grand Hyatt, SLS and Rosewood, in the Top 25 Resorts in the Atlantic category.

“We are honored to be recognized by Condé Nast Traveler readers as a leading destination in the Atlantic and the Caribbean, a highly competitive region that is home to some of the most luxurious and beautiful hotels and resorts in the world,” said Graeme Davis, president, Baha Mar.

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Prime Minister Dr Hubert Minnis this week accepted a $500,000 donation from the Baha Mar resort to assist with temporary housing for residents affected by Hurricane Dorian.

Baha Mar president Graeme Davis said the funds represent the first instalment of a $2 million commitment made by the Cable Beach resort to help Abaco and Grand Bahama rebuild from the devastation caused by Hurricane Dorian.

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Principals of Gonet Bank & Trust presented the government with a $200,000 cheque to support The Bahamas’ pavilion at 2020 Expo Dubai.

Accepting the cheque on behalf of The Bahamas government, October 3, 2019, at the Office of the Prime Minister was Deputy Prime Minister and Minister of Finance Peter Turnquest.

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The Prime Minister of The Bahamas Dr Hubert Minnis attended the official ground-breaking ceremony for the new US Embassy in Nassau October 8, 2019.

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Minister of Financial Services, Trade & Industry and Immigration Elsworth Johnson gave remarks at the Bahamas Institute of Financial Services 43rd Awards Presentation, at Melia Nassau Beach resort, October 5, 2019.

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