Wednesday, March 18, 2020

Davis Calls for Financial Relief During Health Crisis

Progressive Liberal Party (PLP) Leader Philip Davis

Progressive Liberal Party (PLP) Leader Philip Davis wants the government to ease the financial burden many Bahamians may experience as COVID-19 threatens the economy.

During the PLP’s press conference on Tuesday, Davis pointed out several issues that need to be addressed urgently.

“The National Insurance Board must provide temporary unemployment assistance,” Davis said.

He also called for assistance to small and medium size enterprises (SME) and hotels that will be immediately affected and may be forced to reduce working hours and in some cases lay off staff.

“The Central Bank must strongly consider easing credit and lowering the cost of capital,” Davis added.

“Arrangements must be made with financial institutions to temporarily halt foreclosures and demonstrate forbearance with customers regarding loan payments.

“Measures must be taken to ensure that consumers aren’t being taken advantage of by ‘price-gouging.’"  Read more >>