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JAMES SMITH SAYS TO THE FNM : TELL THE TRUTH

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James Smith, the former Minister of State for Finance, spoke to the press last week to say that  the Government hard on the heels of the latest International Monetary Fund (IMF) report needs to come clean with the Bahamian people on what the future is in store for the country under the FNM.  Mr. Smith said that the  IMF is saying that past this immediate pandemic, there will be a need to severely cut back on public expenditure and to raise taxes.  Let us translate. The FNM will have to borrow something like two billion dollars to keep the country going past 30 June this year when the fiscal year ends.  There is no appetite for lending us more money in the open markets at that rate. The only choice will be the IMF. Given what they have said, the FNM will have to announce severe cuts in public services, salaries and employment levels, in addition to raising taxes. Sounds like a formula for success? That is why the talk is that Dr. Hubert Minnis will call an election before the budget must be given.  He knows that the medicine will be bitter and so he wants to fool the Bahamian public that all is well, win and then bring the hammer down.  As Mr. Smith said: tell the truth Prime Minister.