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VOLUME:117 No.98, APRIL 15, 2020
THE PEOPLE’S PAPER: $1
INSIDE: YOUR BRILLIANT 12-PAGE PUZZLE MAGAZINE
BOUNCE BACK
Ray of hope as IMF forecasts 6.7% recovery By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE International Monetary Fund yesterday predicted The Bahamas will swiftly rebound from COVID-19 despair with 6.7 percent GDP growth in 2021. In its first COVID-19 World Economic Outlook, the IMF forecast The Bahamas and most of its Caribbean neighbours will bounce back swiftly from arguably the greatest economic contraction - or depression - seen since the 1930s. The Fund’s forecast that the Bahamian economy will shrink by 8.3 percent in real terms during 2020 is in line with Moody’s estimate of an 8 percent contraction
SEE PAGE EIGHT
‘WE DIDN’T THREATEN DOCTORS’
due to the tourism industry shutdown and impact of the government’s national lockdown. Gowon Bowe, Fidelity Bank (Bahamas) chief financial officer, warned Bahamians not to place their hopes on such forecasts, even though they represent a glimmer of hope for both private sector and workforce, He said that “the earliest” anyone could accurately predict The Bahamas’ GDP will probably be June, as he urged against “false prophesising” that was either overly optimistic or preached “doom and gloom” when it came to this nation’s prospects.
By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net
HEALTH Minister Dr Duane Sands said yesterday he was “flabbergasted” to learn of doctors allegedly being threatened with noncontract renewal if they choose not to volunteer in the COVID-19 fight. He said such threats are “not something that is consistent with the Ministry of Health”. SEE PAGE TWO
REALTORS LOOK FOR ‘IT’S NICE TAX CUTS
FULL STORY - SEE BUSINESS
...BUT PAIN GOES ON AS 30,000 SEEK HELP By LEANDRA ROLLE Tribune Staff Reporter lrolle@tribunemedia.net THE National Insurance Board has paid out more than $5m in unemployment benefits to workers impacted by the coronavirus pandemic, NIB officials said yesterday. Giving an update to reporters ahead of a Cabinet meeting, Public Service and National Insurance Minister Brensil Rolle said some 12,000 people who
have lost their income due to COVID-19 have already received unemployment payments from NIB. About 30,000 people have applied for NIB assistance. He said: “We are just under 30,000 applications for unemployment assistance. So far, we have spent about $5m on 12,000 applications. We are processing a significant number of small businesses so we expect the numbers would increase significantly. SEE PAGE THREE
ALICIA WALLACE WE NEED A PROPER PLAN, NOT REACTIONS
TO HAVE THE BEACH TO OURSELVES FOR ONCE’
A PAIR of seagulls enjoying the peace and quiet on Junkanoo beach yesterday. Photo: Shawn Hanna/Tribune Staff
SAN SALVADOR’S SATELLITE SCARE By RASHAD ROLLE Tribune Senior Reporter rrolle@tribunemedia.net
A SATELLITE that crash landed in San Salvador on Sunday, puzzling and scaring residents, was brought down by its manufacturer as part of a coordinated event. Delvin Major, Air Accident Investigation Authority chief investigator, confirmed the object was an internet and communication
THE DOWNED satellite balloon satellite. “It had reached its useful life and battery depletion and was
brought down intentionally by the operator where it was picked up by a boat,” he said. The descent was coordinated with air traffic control and a crew was hired to retrieve it. The company operating the satellite is called Loon, a Google affiliate which partners with mobile network operators to expand the reach of their LTE services. SEE PAGE SEVEN
Nassau & Bahama Islands’ Leading Newspaper
By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net LEADING realtor John Christie, HG Christie’s president and managing broker, yesterday urged the government to slash the tax rate on property sales by 50 percent and “cut all the red tape” to stimulate “real money” inflows to The Bahamas, calling on the government to “get proactive” in stimulating real estate sales. FULL STORY - SEE BUSINESS
TECHNOLOGY
SPECTACULAR CRASH IN VIRTUAL RACE SEE PAGE NINE