Laing Defends Bahamian Dollar
The Bahamian dollar is secure!" That was the forceful response from the nation's state finance minister after suggestions that the recent credit-rating downgrade had put the islands' currency at risk.
Speaking to The Nassau Guardian, Minster of State in the Ministry of Finance Zhivargo Laing hit out at remarks made by Senator Jerome Fitzgerald that the Bahamian dollar was on the "slippery slope on the way to devaluation".
The senator's remarks came after the Christmas Eve revelation that international credit agency Standard and Poor's had lowered its credit rating of The Bahamas as a place in which to invest.
Those comments have now sparked a fierce rebuke from the Minister Laing.
He said: "I want to make one point, I was greatly disappointed and surprised that Senator Jerome Fitzgerald has sought to connect the downgrading of our sovereign debt rating long-term to a possible devaluation of the Bahamian currency.