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The finance minister today signalled that a special fund created as the Government’s piggy bank would be used to cover a Budget deficit. Curtis Dickinson, the finance minister, said the Government expected to be short by $124.5 million in the 2021/22...

Curtis Dickinson, the Minister of Finance, faces his greatest challenge yet when he delivers his third Budget today. It was not supposed to be this way. Twelve months ago, Mr Dickinson laid out a plan to bring Bermuda's runaway budget deficits under ...

Bermuda has “tremendous opportunities” to take action on climate change, the Governor has said. Rena Lalgie added that younger generations will look for answers from their elders about what was done to address the global problem. Since her arrival tw...

The One Bermuda Alliance has called for more support for Bermuda’s farmers and fishermen and for funding for school repairs or renewable energy schemes which would make Bermuda more self-sufficient and create jobs. Cole Simons, the Leader of the Opp...

Bermuda faces a “fiscal cliff” if its debt-to-revenue ratio, currently at 340 per cent, continues to rise. An adverse but “far from inconceivable” scenario would see Government debt on an unsustainable trajectory, leading to a credit rating downgrade...

Dear Sir, After reading The Royal Gazette yesterday (January 4, 2021), I believe that Bermudians should be told why the Department of Child and Family Services is moving from offices paying $300,000 per year into offices that will cost $800,000 per y...

The Bermuda Government’s new $1.35 billion of debt bonds have been admitted for listing on the Bermuda Stock Exchange. The debt is split evenly between ten-year and 30-year maturity senior notes. There is $382,105,000 of 2.375 per cent 144A senior no...

Grim figures on the impact of the Covid-19 pandemic were revealed last night by the Minister of Finance. Curtis Dickinson said the island’s total debt had gone up by about $520 million as a result of the double whammy of a plunge in revenues and pand...

The Bermuda Government has reportedly priced a $1.35 billion bond issuance that will be used to refinance existing debt at more favourable interest rates, and to meet future borrowing needs. The bonds are evenly split between 10-year and 30-year matu...

The Bermuda Government is buying back up to $500 million of its bonds from investors and selling new debt. The move is part of the Government’s plan to restructure existing debt, with the aim of securing more favourable interest rates, and issuing ne...

Legislation to raise the debt ceiling by $600 million to $3.5 billion was approved by senators this morning. Independent senator James Jardine said of the Government Loans Amendment (No 2) Act: “I understand the need to provide for that based on the ...

Legislation was passed by MPs on Friday to raise the debt ceiling by $600 million to $3.5 billion. Curtis Dickinson, the Minister of Finance, said he “reluctantly” increased the limit earlier to cover costs related to the Covid-19 pandemic. He told a...