National

Former PM Weighs In On NIB Fund Depletion

NASSAU, BAHAMAS – Former PM Dr. Hubert Minnis reiterating that tough decisions have to be made regarding the state of the National Insurance Board fund.

Published

2 years ago

January 1, 2023

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NASSAU, BAHAMAS – Former Prime Minister Dr. Hubert Minnis reiterating that tough decisions have to be made regarding the state of the National Insurance Board fund.

This comes after minister responsible, Myles Laroda, said the government will have to make a decision next year concerning the state of the fund, which he says remains on target to lose about $70m this year.

Minnis says the decision must consider the middle and lower class.

Speaking to reporters Wednesday, Laroda said the government will continue considering its options on how it can ensure the fund’s sustainability.

He said the options include cutting back on costs or raising revenue or doing both.

Meanwhile, the former prime minister says he’s waiting to see what the government does.