Bahamas may borrow $200m

Read storyThe Bahamas government wants to borrow $200 million to make up for a lack of revenue in the 2008-2009 financial year.

Prime Minister Hubert Ingraham announced the decision, which will have to be approved by parliament, during a budget report on Wednesday.

The Prime Minister said given the present economic difficulties facing the country, it makes more sense for the government to absorb losses rather than reduce government spending.

The money would come from several banks and be used for a stimulus programme.

Full Story in The Nassau Guardian here

Full Story in The Tribune here (Page A01)