Hashtag: #Finance
$50 Million Guarantee For Mortgage Programme
The Government is issuing a $50 million guarantee to the Bermuda Commercial Bank for the new pilot mortgage guarantee programme, Premier and Minister of Finance David Burt said, adding that it “represents a first step in the process of lowering mortgage rates in Bermuda.” Speaking in the House of Assembly today [Nov 18] the Premier said,... Read more of this article
Deficit Projected To Be $44M Below Estimate
“Based on the numbers submitted for the audit of the Consolidated Fund, the 2021/22 budget deficit is now projected to be $81 million, $44 million [35%] below 2021/22 original estimate of $125 million, as presented in the 2021/2022 Budget Statement,” Premier and Minister of Finance David Burt said in the House of Assembly on Friday. The... Read more of this article
Bermuda Is Removed From EU’s Annex II
The Ministry of Finance said they are “pleased to report that the Council of the European Union and its Code of Conduct Group determined that the island had fulfilled its recommendations on taxation and was therefore removed from Annex II.” A Government spokesperson said, “Referencing the decision, the Council announced that “the... Read more of this article
CFA Society Offering Financial Literacy Series
CFA Society Bermuda is offering its Financial Literacy Series in partnership with the Bermuda College PACE Program beginning on September 28. A spokesperson said, “The popular Financial Literacy Series, offered in partnership with the Bermuda College PACE program, will run for four consecutive Wednesday evenings, beginning September 28. Robin Masters... Read more of this article
Premier Returns After Taking Part In Roundtable
Premier and Minister of Finance David Burt returns from Barbados this evening after taking part in the Caribbean Financial Access Roundtable, which “discussed critical issues regarding correspondent banking relationships, de-risking, anti-money laundering, and related banking issues.” “Challenges with correspondent banking relationships... Read more of this article
Premier Burt To Attend Financial Roundtable
Premier and Minister of Finance David Burt will be in Barbados tomorrow [April 20] to participate in the Caribbean Financial Access Roundtable. A Government spokesperson said, “At the invitation of the Prime Minister and Minister of Finance of Barbados Mia Amor Mottley, Bermuda’s Premier and Minister of Finance David Burt will be in Barbados on... Read more of this article
Ministry: Financial Literacy Skills Series
The Ministry of Economy and Labour has provided an update on financial assistance reform and highlighted its recent financial literacy series. A Government spokesperson said, “The Ministry of Economy and Labour is providing an update on financial assistance reform and a collaborative initiative with the Department of Workforce Development. “On September... Read more of this article
Column: Hospital Finances In ‘Precarious Position’
[Opinion column written by Shadow Minister of Health Michael Dunkley] During the Budget Debate for the Ministry of Health it was revealed by the Minister that cash reserves for the Hospital have dwindled to $16 million, which equates to 6 days’ worth of funding to run the operation. Normally a hospital would like 60 to 90 days of cash reserves.... Read more of this article
Age Concern Members Concerned About Budget
“In a recent survey of 389 of our members, comprised of persons aged 50 and older, more than 75% of respondents indicated that they are extremely concerned about Bermuda’s budget this year,” Age Concern said. A spokesperson said, “The Government is worthy of praise for the excellent handling of the Covid- 19 pandemic, these are indeed difficult... Read more of this article
Video: Premier Burt Appears On ‘Crypto Convo’
Bermuda Premier David Burt recently appeared on an episode of Crypto Convo with host Jon Najarian to discuss “how the country is embracing digital banking to enrich Bermuda and its citizens.” The video’s description says, “Bermuda is world-famous for its rigorous regulation. And yet today, Bermuda is a hotbed for emerging digital... Read more of this article
“18th Consecutive Year Of Government Deficit”
Government expenditure exceeded revenue in 2020/21, marking the 18th consecutive year of a Government deficit. This is according to the Bermuda Digest of Statistics, which said, “Government expenditure exceeded revenue by $184.2 million in fiscal year 2020/21. This marked the eighteenth consecutive year of a Government deficit. “Furthermore,... Read more of this article
CFA Society Bermuda Financial Literacy Course
The CFA Society Bermuda financial literacy series will return to the Bermuda College starting on February 23. A spokesperson said, “CFA Society Bermuda’s popular financial literacy series returns to the Bermuda College beginning February 23. This four-part series is designed for anyone who is looking to learn more about personal finance and basic... Read more of this article
Financial Policy Council Meeting Today
The Financial Policy Council [FPC] will be holding its next meeting today [Dec 16] which will include “discussions on the 2021 Throne Speech initiatives and consideration of key findings of the 2021 assessment report of the Fiscal Responsibility Panel.” A Government spokesperson said, “The Financial Policy Council [FPC] will be holding... Read more of this article
Minister Reports On Travel To UK, Belgium, USA
Speaking in the House of Assembly today [Dec 10] Minister of Finance Curtis Dickinson provided an overview of his recent travels to London and Brussels, as well as his work last week in New York. The Minister’s full statement follows below: Mr Speaker, I rise today to inform this Honourable House of recent travels to London and Brussels, along with... Read more of this article
Nayms Briefing On Digital Asset Risk Insurance
Members of Bermuda’s digital asset, insurance and reinsurance sectors “have gained an insight into a new blockchain based market solution for insuring digital asset risk” at a Nayms breakfast briefing hosted in conjunction with Carey Olsen Bermuda Limited. A spokesperson said, “The Bermuda regulated startup Nayms is leading the... Read more of this article
Minister: 2021/22 Half Year Fiscal Performance
Minister of Finance Curtis Dickinson provided an update on the Government’s fiscal performance. Speaking in the House of Assembly today [Nov 12], the Minister said, “Overall, notwithstanding the Covid-19 impact and the additional guarantee related expenditures, current expenditures, excluding debt service, are presently in line with the... Read more of this article
