Government In Breach Of The Law

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NASSAU, BAHAMAS – The Free National Movement is hitting out at the Davis administration, charging that the government is in breach of the law after it received over $232 million dollars from the Central Bank of The Bahamas.

Currently, the Central Bank Act doesn’t allow for the transfer between the two.

In a statement, the Ministry of Finance said the government issuing resources provided by the IMF for a legitimate purpose as outlined by the IMF in its guidance notes on the treatment and use of the SDRs.

These funds were being held in the Central Bank.

Pintard says this raises concerns about possible liquidity issues.