Alright, folks, buckle up because we’re diving into the latest from the House of Assembly, where the “Honorable” Keith Bell spent nearly an hour on his feet, delivering a scathing critique of the Official Opposition, the Free National Movement (FNM). Now, if you’re thinking this is just another run-of-the-mill parliamentary tirade, think again. Bell took it upon himself to berate the FNM for what he claims was the reckless selling off of all “American foreign assets in National Insurance” back in 2020. Yes, you heard it right, during the height of the pandemic.

Bell was so “behooved”—I love that word, don’t you?—that he stopped just short of explaining why it was necessary to sell these “American foreign” assets and, importantly, who exactly was advising the government at that time. But then again, sound reasoning might just get in the way of a good old-fashioned misrepresentation of the truth. You see, calling members of the Progressive Liberal Party (PLP) liars is a surefire way to rile them up, even when the facts aren’t on their side.

Let’s take a trip back to May 2020, shall we? According to The Nassau Guardian, the National Insurance Board (NIB) began identifying which of its foreign assets to liquidate as part of stringent austerity measures. This was to safeguard the foreign reserves, as requested by the Central Bank of The Bahamas, to navigate the perilous economic crisis brought on by COVID-19. NIB Director Dr. Nicola Virgill-Rolle mentioned that the board was figuring out how to meet this mandate without straining the fund’s resources. The plan was to target the lowest-yielding assets to maintain liquidity, crucial for paying unemployment benefits at a time when the country’s economy was in dire straits.

So, the foreign investments by the National Insurance Board were essentially a support mechanism for the country’s reserves. By the end of 2019, these external reserve balances had jumped by an impressive 46.7% to $1.7 billion.

But if you followed Minister Bell’s narrative, you’d think the FNM was selling off these assets willy-nilly, just for kicks, with no good reason or advisement. In reality, this was a strategic move under the guidance of The Central Bank of The Bahamas, aiming to raise funds for critical social services during an unprecedented economic shutdown.

Now, I have to wonder if Minister Bell realizes that his version of events is, in fact, misleading Parliament and the people.

Is it any surprise that a minister from the Progressive Liberal Party (PLP), who has already weathered controversy, was chosen to deliver this dirty task?

 Survived one scandal, why not test if he’s “bulletproof” with another, right?

And there you have it, folks. A perfect example of political theater at its finest. Don’t you just love it?

The Progressive Liberal Party (PLP) fails for one reason, it is their nature.

END