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Moodys expresses shock at fiscal package reveals

first_imgFacebook Twitter Google+LinkedInPinterestWhatsApp #MagneticMediaNews#MoodysShockedAtBahamasBudgetCommunication201718 Facebook Twitter Google+LinkedInPinterestWhatsAppBahamas, June 7th 2017: Another credit downgrade from Moody’s could soon be ahead, as the International Credit Rating Agency is expressing alarming concern over the recent budget pronouncements with an increase in borrowing of $722M outlined. The agency says the latest budget has sparked alarm, with it forecasting debt-to-GDP will rise until 2019, peaking above 70 percent of GDP, when it had initially expected debt to stabilise this year.It also adds that it “indicates that The Bahamas’ fiscal outlook is significantly worse than what we had incorporated into our current projections”, as “Revised government estimates point to a higher deficit for fiscal 2017, and deficits (rather than surpluses) in the coming years.Last week, DPM and Finance Minister Peter Turnquest said with an ongoing Deficit of the magnitude projected for the upcoming year, the level of the Government Direct Charge is forecast to reach $6.8 billion at the end of 2017/18, or a new all-time high of 72.7 per cent of GDP Fiscal Policy beyond 2017/18.Despite this pronouncement, Moody’s commended The Bahamas government of maintaining realistic goals and targets in lowering the debt to GDP ratio by 2019.Moody’s report says, “The Budget envisions a somewhat optimistic deficit reduction path through fiscal 2020 without material changes to current policy, particularly in a still weak economic environment”.As to whether another down grading is imminent, the credit rating agency says its investment grade rating remains the same for the moment.DPM Turnquest has attributed the economic downfall to the bills government has incurred following Hurricane Matthew’s devastation last October.center_img Related Items:last_img read more

City willing to comply to new loan rules says Guardiola

first_imgManchester City Pep Guardiola says the club will definitely comply if directed to reduce the number of loaned out players.According to reports, FIFA are considering to set the number of outgoing player loans allowed for each club to a maximum of between 6 and 8, from the start of the 2020-21 season, and Guardiola believes the club will have no problem adapting to the rule.Manchester City currently have 28 players on loan spells in different clubs all over Europe.Big clubs have been accused of stockpiling players that they could later sell for profit and thereby abusing the loan system which was meant to be used for player development.“We are going to adapt to the rules,” Guardiola told Sky Sports.“The new rules are coming. We’re going to see the situation about loan players and see what we can do.norwich city, manchester city, premier leagueReport: City are stunned by Norwich George Patchias – September 14, 2019 Manchester City was stunned by Norwich City in todays Premier League clash.Much has been made in recent days of the potential impact of Aymeric…“If we cannot loan them they are going to come back here. If we don’t believe they are going to play, if we cannot loan them, we are going to sell them. It’s simple.“We’re going to see before they take the players where they are going to play and if it is not possible to loan them we are not going to buy them.”Guardiola thinks the Under-23 competition in England is not enough preparation for players hoping to make it in the Premier League, as he supports the loan system.“It’s not good for me,” Guardiola added.“Loan players are in good leagues. To then come here to play in front of 10 people is not good for their development.”last_img read more

Words symphony and serendipity

first_imgSerendipity Delhi, a unique Concept Store dedicated to promoting Art, Music, Culture and Design is organizing a special Book Reading evening with William Dalrymple on his latest release Return of a King on March 28. Adding a Musical note to the evening will be a performance of Thumri-Dadra and Ghazal by noted classical singer Vidya Rao. The event is a Fund Raiser to benefit All Creatures Great and Small (ACGS), a non-profit organization that provides shelter for animals in distress. Also Read – ‘Playing Jojo was emotionally exhausting’Hosted at Serendipity’s beautifully restored Haveli, meet the author and other book and classical music lovers, and enjoy the ambience of Serendipity’s lovely terrace.  William Dalrymple is a bestselling author whose books include In Xanadu, City of Djinns, From the Holy Mountain, White Mughals, The Last Mughal and Nine Lives. He has won the Premio Hemingway Prize 2015 for Return of a King.  He has won the Thomas Cook Travel Book Award, the Sunday Times Young British Writer of the Year Award, the French Prix d’Astrolabe, the Wolfson Prize for History, the Scottish Book of the Year Award, the Duff Cooper Memorial Prize, the Asia House Award for Asian Literature, the Vodafone/Crossword Award for non-fiction and has, prior to the shortlisting of Return of a King, been longlisted three times for the Samuel Johnson Prize. He lives with his wife and three children on a farm outside Delhi.  Vidya Rao is a leading performer of thumri-dadra and ghazal. The disciple of the legendary singer, the late Vidushi Naina Devi, she has performed at national and international forums, has lectured and conducted workshops and lecture-demonstrations, and has composed and sung for theatre, film and dance.last_img read more