NASSAU, BAHAMAS — The Bahamas government will likely have to make some very unpopular decisions in this upcoming budget, according to a top banker, who urged government not to throw caution to the wind.
Gowon Bowe, chief executive of Fidelity Bank (Bahamas), told Eyewitness News that heading into an election year, the government must resist the temptation of political expediency and carefully consider the long-term effects of its policies on the nation as a whole.
“Going into an election year, the government has the responsibility as fiduciary agents to make decisions that are likely not going to be popular because it is either not going to give to some that feel they are deserving [or] will need to take from some who may argue that it is going to hinder them in some way,” said Bowe.
“We cannot throw caution to the wind. We will need to strike a balance to minimize our mortgaging of the future to a bare minimum.”
He added: “We are in a precarious situation right now. We had fiscal headroom, though not a lot of headroom, and we have now used up a lot of it.