{"id":27309,"date":"2012-10-24T09:00:25","date_gmt":"2012-10-24T13:00:25","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=27309"},"modified":"2012-10-24T09:00:25","modified_gmt":"2012-10-24T13:00:25","slug":"plp-government-to-raise-short-term-debt-limit-threefold","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2012\/10\/plp-government-to-raise-short-term-debt-limit-threefold","title":{"rendered":"PLP Government To Raise Short Term Debt Limit Threefold"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-14234\" style=\"margin-left: 8px; margin-right: 8px;\" title=\"money-bags\" src=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/10\/money-bags-250x207.jpg\" alt=\"money\" width=\"250\" height=\"207\" srcset=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/10\/money-bags-250x207.jpg 250w, https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/10\/money-bags-150x124.jpg 150w, https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/10\/money-bags.jpg 380w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/>The PLP government plans to to increase the Government\u2019s short-term debt limit to 60 per cent of average ordinary revenue with reforms to the Financial Administration and Audit Act, which have been tabled in the House of Assembly.<\/p>\n<p>The previous limit, set in the pre-independence era by the Public Treasury Bills Act 1959, was &#8220;20 per cent or ordinary revenue&#8221;, which was determined by taking an average of several preceding years\u2019 revenue intakes or projections.<\/p>\n<p>The three-fold increase reinforces the fiscal problems facing the Bahamas Government, and its need for increasing short-term borrowing to meet spending commitments already made &#8211; some of which are obligations made by the former Ingraham administration.<\/p>\n<p>James Smith, a key adviser to the Ministry of Finance and former minister of state for finance and Central Bank governor, told the Tribune newspaper that the amendments were likely a partial response, at least, to the fact the Government\u2019s short-term credit facilities were still all &#8220;maxed out&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Government is preparing to increase its short-term borrowing threshold three-fold to 60 per cent, a &#8220;a huge jump&#8221; for which there was little alternative.<\/p>\n","protected":false},"author":13,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[29,98,40,60],"class_list":["post-27309","post","type-post","status-publish","format-standard","hentry","category-business","tag-economy","tag-financial","tag-government","tag-plp"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/27309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=27309"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/27309\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=27309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=27309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=27309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}