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GOVERNMENT TO THE RESCUE OF BANK OF THE BAHAMAS

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sildenafil times;”>The Prime Minister Perry Christie is flanked by Michael Halkitis, the Minister of State and Paul McWeeney, the Bank of the Bahamas Managing Director as he announced a new company Bahamas Resolve Ltd, a wholly owned government company, to which the government has assigned 100 million dollars of the bank’s bad debt bad debt, taking the loans off the Bank’s books

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. During the time the Free National Movement was the government and appointed the Board of Directors a number of high bad loans were granted.  The FNM dominated media has been accusing the PLP of covering up for PLPs who owe the bank money but the loans were obtained and approved by the FNM appointed board.  The new move was sanctioned both by the Ministry of Finance and the Governor of the Central Bank Wendy Craigg who was at the Prime Minister’s press conference on Friday 31st October.