NASSAU,BAHAMAS — Prime Minister Dr Hubert Minnis yesterday dismissed as “an outright fabrication” assertions by Opposition Leader Philip Brave Davis that he had informed ratings agency Standard and Poor’s (S&P) of an early election before informing the Bahamian people.
“That is an outright fabrication. Elections are not due until May of next year,” Minnis said in Parliament yesterday.
“When that changes, the Bahamian populace would know. Either they would be given three weeks’ notice, four weeks’ notice or six weeks’ notice.
“For all intents and purposes now, elections are due in May of next year. If he (Davis) or Standard & Poor’s get into my brain or my head, then they would know exactly my thinking and what was my thinking.
“I want the member to withdraw that because I uttered no such information to Standard & Poor’s. I am not a betrayer. I do not double-cross anybody.”
Davis, who was not present in the House of Assembly for Minnis’ response, had asserted that the prime minister betrayed the country by informing S&P that the country would have an early election without first informing Bahamians.
The assertion was based on commentary in the ratings agency’s review in November of last year.
During that review, S&P lowered the country’s credit rating one notch to BB- from BB due to weaker-than-expected economic and financial conditions as a result of COVID-19.
The agency noted: “Although the government has continued its work on policies and legislation in support of its fiscal responsibility mandate, it has not enacted material revenue measures or sustained expenditure cuts. Moreover, the current economic environment and upcoming election in 2021 make difficult fiscal reforms unlikely in the short term.”
Eyewitness News attempted to gain clarification on the matter from S&P yesterday, however, inquiries did not yield a response up to press time.
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