Hashtag: #Finance

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

Bermuda Issues $1.35 Billion Of Senior Notes

Bermuda Issues $1.35 Billion Of Senior Notes

The Ministry of Finance announced that Bermuda issued $1.35 billion of two new Senior Notes, stating that “overall debt outstanding increased by approximately $520 million, as a large portion of the proceeds was used to refinance existing debt that were at higher rates.” A government spokesperson said, “The Ministry of Finance is pleased... Read more of this article

Balance Of Payments, International Investment

Balance Of Payments, International Investment

The Department of Statistics released the 2020 Q1 Balance of Payments & International Investment Position publication. A Government spokesperson said, “Bermuda’s trade with non-residents resulted in a $220 million surplus for the first quarter of 2020. Bermuda’s stock of foreign assets at the end of the first quarter exceeded the stock... Read more of this article

‘Total Debt Has Increased By About $520 Million’

‘Total Debt Has Increased By About $520 Million’

“Total debt has increased by about $520 million, the average interest rate on the entire portfolio has decreased by approximately 59 basis points or 0.59%,” Minister of Finance Curtis Dickinson said last night as he provided an update on the economic challenges and the Covid-19 pandemic. The Minister said, “As previously announced,... Read more of this article

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