Hashtag: #Finance

Net Public Debt Up $184.9M In Fiscal 2019/20

Net Public Debt Up $184.9M In Fiscal 2019/20

“Net Public Debt, which excludes guarantees and is net of the Government Borrowing Sinking Fund increased by $184.9 million during fiscal 2019/20 standing at $2.646 billion at the year-end,” Minister of Finance Curtis Dickinson said. Speaking in the House of Assembly today [March 26], the Minister said, “I rise today to advise Honourable... Read more of this article

Study: Island Is Most Expensive For Happiness

Study: Island Is Most Expensive For Happiness

A study by Expensivity — which used estimates from Purdue University’s paper ‘Happiness, income satiation and turning points around the world — concluded that Bermuda is the most expensive place in the world to ‘be happy,’ with the study noting our “high cost of living.” The organisation said, “Scientists... Read more of this article

Balance Of Payments & International Investment

Balance Of Payments & International Investment

The Minister for the Cabinet Office Wayne Furbert released the 2020 Q2 Balance of Payments & International Investment Position publication from the Department of Statistics. The Minister explained, “Bermuda’s trade with non-residents resulted in a $250 million surplus for the second quarter of 2020, increasing $94 million from a year ago. This... Read more of this article

Finance Minister To Host ‘Virtual Town Hall’

Finance Minister To Host ‘Virtual Town Hall’

Minister of Finance Curtis Dickinson will be hosting a virtual Town Hall Meeting tomorrow [Feb 3] to “discuss the state of Bermuda’s economy and potential Fiscal Year 2021/2022 budget implications.” In an online post, the Bermuda Government said, “The public is invited to join the Minister of Finance, the Hon. Curtis Dickinson, JP,... Read more of this article

Finance Offices To Close At Noon On Wednesday

Finance Offices To Close At Noon On Wednesday

The Ministry of Finance’s offices will close at noon tomorrow [Jan 27] to allow staff to attend the virtual funeral service for the late Financial Secretary Anthony Manders. A Government spokesperson said, “Out of respect for the late Financial Secretary, Mr. Anthony Manders, the Ministry of Finance Headquarters and by extension, all departments... Read more of this article

CFASB Relaunches Financial Literacy Series

CFASB Relaunches Financial Literacy Series

CFA Society Bermuda will again be offering their “Building Financial Literacy” as part of the PACE program at the Bermuda College, with classes to begin on Wednesday [Jan 20]. A spokesperson said, “CFA Society Bermuda’s popular series “Building Financial Literacy” will again be offered this semester as part of the PACE program at the... Read more of this article

’2020/21 Deficit Estimated At $295.4 Million’

’2020/21 Deficit Estimated At $295.4 Million’

The Ministry estimates that revenue yields for 2020/21 will contract by about 18.5% or $208.1 million, unbudgeted Covid-19 expenditures have been approximately $125 million for this fiscal year, so the revised deficit for 2020/21 is estimated at $295.4 million. This was from Minister of Finance Curtis Dickinson speaking during yesterday’s [Dec... Read more of this article

Finance Minister On Bonds, Debt, Economy, More

Finance Minister On Bonds, Debt, Economy, More

The Government issued a total of $1.35 billion in new bonds, overall debt outstanding increased by approximately $520 million, Government debt now stands at $2.97 billion, and the annual debt service cost is currently $127.2 million claiming 13.6 cents of every dollar of revenue that the government takes in, Minister of Finance Curtis Dickinson said Speaking... Read more of this article

Minister: Covid Caused ‘Severe Economic Shock’

Minister: Covid Caused ‘Severe Economic Shock’

Imports decreased by 27.5% over the first two quarters of the year, total visitor arrivals were down by 91% versus a year ago, and employment income for the first 9 months of 2020 fell by $194.2 million. This was from Minister of Finance Curtis Dickinson, who said that the “economic data clearly illustrates the severe economic shock that Covid-19... Read more of this article

Minister On Budget, Finances. Economy & More

Minister On Budget, Finances. Economy & More

“Bermuda has responded well to the immediate challenges of Covid-19″ and “we must now focus our efforts on rebuilding our economy” as the implications for Bermuda’s finances “are extremely serious,” Minister of Finance Curtis Dickinson said. Speaking in the House of Assembly today [Nov 13], the Minister said, “I... Read more of this article

Minister On Finances & Economic Recovery

Minister On Finances & Economic Recovery

The Government paid benefits to over 10,000 persons for a total cost to date of approximately $56.8 million, for fiscal 2020/21 the Ministry is providing up to $90 million in capital development funding and the sale of Ascendant Group “will see in excess of $200 million flowing to Bermudian shareholders.” This was from Minister of Finance... Read more of this article

Video: Labour Minister & Finance Minister

Video: Labour Minister & Finance Minister

[Updated] Minister of Labour Jason Hayward and Minister of Finance Curtis Dickinson are holding a press conference this afternoon [Oct 19], and we will have additional coverage later on and in the meantime the live video is below. Update: The live broadcast has concluded and the 38-minute replay is belowUpdate 5.34pm: Minister Hayward’s remarks: Good... Read more of this article

CFASB Launches Fall Financial Literacy Series

CFASB Launches Fall Financial Literacy Series

CFA Society Bermuda, in partnership with Bermuda College PACE program, will again be offering their four-session series “Building Financial Literacy” starting on September 30. A spokesperson said, “As described in the PACE course catalogue, the course provides an introduction to basic money and financial concepts. The goal is to help people build... Read more of this article