NASSAU, BAHAMAS — Opposition Shadow Finance Minister Kwasi Thompson has slammed the Davis administration for what he describes as an “economic PR campaign built on paper-thin numbers,” warning that the government’s optimistic narrative does not reflect the everyday struggles of Bahamian families.
“The Prime Minister is making a big deal over a 0.1 percent tweak in growth forecasts and slight changes in ratings language,” Thompson said in a statement. “But the truth is, under the PLP, our economy is underperforming, and Bahamians are paying the price.”
Thompson pointed to the IMF’s latest economic outlook, which revised growth projections for The Bahamas from 1.7 percent to 1.8 percent — a modest increase following a sharper downgrade from a previous 2.3 percent forecast.
“This isn’t progress — it’s stagnation,” Thompson argued. “At 1.8 percent, growth is inadequate to confront our nation’s structural challenges, ranging from high unemployment and rising inequality to unsustainable public debt and overdependence on tourism.”
He dismissed government celebrations over recent credit rating updates, noting that while agencies like Moody’s have improved their outlooks, actual ratings remain unchanged.
“Moody’s hasn’t upgraded our rating,” he said. “A better outlook doesn’t change the fact that the PLP is missing its self-imposed debt reduction targets. The government is still borrowing heavily and not delivering enough return.”
Thompson further cited Fitch’s confirmation of a BB- rating and its warning about low growth potential and high debt, as well as the Central Bank’s own “subdued” forecast for the next two years.
“While the PLP pushes out press releases, Bahamian families are struggling with inflation, high taxes and fees,” he said. “Health costs continue to rise. Food prices are up. Every week, life gets more and more expensive. And our young people are being hit hardest.”
“In the PLP’s world, things are just fine, but in the real world, Bahamians can’t afford business as usual. It’s time for a government focused more on substance than spin.”
