Restructuring The Bahamian economy 1999….
On this brand new day that we have never seen before and promises a lot I decided to take a look back. I have been promising to do this for a while but could not find the information I wanted but here it is. For many years there have been persons who suggested that the country as a whole become more diversified. Speaking at a Rotary Club meeting in January 1999 then Practice Leader of the Freeport Practice Group of Deloitte & Touche Chartered Accountants Subir Das Gupta said the economy of The Bahamas needed restructuring. At the point in time, prior to the crippling hurricanes, he said that the Bahamian economy was at a watershed point as we looked at the then Free Trade Area of the Americas. Funny enough his words were, "The national debt is escalating, unemployment remains at a high level while domestic ownership of the key tourism and financial services sector is limited." Hmmm…. He then suggested that we go from Nassau to National as he noted that th...