Prime Minister and Minister of Finance, the Hon. Philip Davis spoke on the debt management services of Rothschild & Co. to the government while visiting the Abacos.
He told reporters, “restructuring is a term of art that sends a signal. We are not restructuring our debt. What we are doing is ensuring that the market, right, the capital market, the bond market, understand our realities here so that it will not impact the trading of our bonds as it has been over the years and we’re also seeking advice on how beat to manage our debt with a view of ensuring that we’re able to still have space, physical space, to do those things that are necessary to keep the services that we offer to the Bahamian people going.”
On Rothschild & Co Davis said, “they’ve been with us for just over nine months now. The contract for them is one year and at the end the year we’ll sit and determine whether we still need their assistance. So far they’ve been quite a help in putting us where we are today.”