Hashtag: #Finance

Minister: Debt Ceiling To Increase To $3.5 Billion

Minister: Debt Ceiling To Increase To $3.5 Billion

“I will table an amendment to the Government Loans Act 1978 to increase the debt ceiling by $600 million to $3.5 billion,” Minister of Finance Curtis Dickinson said, adding that this is “set at a level to enable funding of the Government and its economic recovery over the next 2-3 years.” Speaking in the House of Assembly today... Read more of this article

Minister: Open Letter To All Public Officers

Minister: Open Letter To All Public Officers

Minister of Finance Curtis Dickinson sent an open letter to all Public Officers explaining the island’s financial situation and saying their “support is vitally important to our country’s success.” Open Letter Minister Curtis Dickinson said, “Dear Public Officers: Open Letter to All Public Officers – Our Economic Status “Our... Read more of this article

SLiC International Closes Seed Funding Round

SLiC International Closes Seed Funding Round

SLiC International Ltd [SLiC] announced that it has closed its Seed Funding Round, and it will launch their Series A Funding Round later in 2020. A spokesperson said, “SLiC has closed its Seed Round valuing the company at USD 12 MN post-money. Private funding contributions ranged from USD 1 MN to USD 100,000 from the Caribbean and North America,... Read more of this article

Column: ‘Spending Is Prioritized For Essentials’

Column: ‘Spending Is Prioritized For Essentials’

[Written by Shadow Finance Minister Patricia Gordon-Pamplin] Good day Bermuda. We are all experiencing some very trying times as we pull together to fight the scourge of the coronavirus. This is a good opportunity for anyone with expertise to offer advice that could be useful to help one another to weather this storm. As an accountant, I embrace the... Read more of this article

U.S. Federal Reserve Cuts Interest Rate

U.S. Federal Reserve Cuts Interest Rate

Noting that the U.S. Federal Reserve cut its benchmark interest rate to “stave off the negative economic effects of the coronavirus on the US economy,” the Bermuda Government has urged local banks to reduce their base rates saying that it “will go a long way towards helping us weather this impending storm.” A Government spokesperson... Read more of this article

Minister: BHB Working On Completing Audits

Minister: BHB Working On Completing Audits

“The BHB is working with the Auditor General’s Office on completing the audits for 2015 to 2019, and will soon be up to date,” Minister of Finance Curtis Dickinson said regarding the outstanding annual reports . Minister Dickinson said, “The Government of Bermuda understands the importance of timely financial information. The Minister... Read more of this article

Course To Help Directors ‘Demystify Finance’

Course To Help Directors ‘Demystify Finance’

Business leaders are being invited to a three-day course designed to help them demystify the world of finance. The Bermuda branch of the Institute of Directors has organized the course to be held on February 25, 26 and 27. It is aimed at non-finance professionals and directors at all levels who need to develop an understanding of business finance. “All... Read more of this article

CPA UK Hold CAPAC Regional Workshop Series

CPA UK Hold CAPAC Regional Workshop Series

The Commonwealth Parliamentary Association UK held the CAPAC Regional Workshop Series: Caribbean in Trinidad & Tobago from January 21-23. A spokesperson said, “From 21-23 January 2020, 31 Chairs, Members and Clerks of Public Accounts Committees from 11 Commonwealth countries across the region met to discuss their role in the scrutiny and oversight... Read more of this article

Minister: ‘Excellent Outcome For Jurisdiction’

Minister: ‘Excellent Outcome For Jurisdiction’

For Bermuda to have achieved such strong rankings in the Mutual Evaluation Report is an “excellent outcome for this jurisdiction,” Minister of Finance Curtis Dickinson said. Speaking in the House of Assembly today [Jan 31], the Minister said, “I am extremely pleased to rise today to advise Honourable Members of the outstanding findings... Read more of this article

Government Releases 2020/21 Pre-Budget Report

Government Releases 2020/21 Pre-Budget Report

In advance of next month’s budget, the Government has released a 2020/21 ‘Pre-Budget Report,’ saying they invite and welcome feedback from the public. A Government spokesperson said, “The Pre-Budget Report provides some insight into Government’s plans for the next fiscal year, which will be expanded in the annual Budget Statement... Read more of this article

Minister: ‘Major Accomplishment For Bermuda’

Minister: ‘Major Accomplishment For Bermuda’

Calling it an “excellent result and a major accomplishment for Bermuda,” Minister of Finance Curtis Dickinson announced that an international standards setting body “confirmed that Bermuda is one of the global leaders in the fight against money laundering, the financing of terrorism and proliferation.”Minister Dickinson said,... Read more of this article

Govt: 2019/20 First Half Fiscal Performance

Govt: 2019/20 First Half Fiscal Performance

The Ministry of Finance today [Dec 23] reported on the 2019/20 First Half Fiscal Performance and provided an updated Economic Review for 2019. The Ministry said that highlights include:“Total Revenues of $545.4 million [Up $7.9 million versus First Half 2018/19]“Total Expenditure of $552.9 million [Down $31.4 million versus First Half... Read more of this article

Minister: Consolidated Fund Financial Statements

Minister: Consolidated Fund Financial Statements

“I rise today to advise Honourable Members of the completion of the audit of the Consolidated Fund Financial Statements for the year-ended March 31, 2019, which were tabled in this Honourable House today,” Minister of Finance Curtis Dickinson said. Speaking in the House of Assembly today [Dec 13] Minister Dickinson said, ”I am pleased... Read more of this article