There was a time when Philip “Brave” Davis had a very clear explanation for the Bahamas’ debt problem.
It was the Minnis administration.
Hurricane Dorian.
COVID-19.
Poor fiscal management.
Excessive borrowing.
Too much spending.
In fact, when the PLP came to office in September 2021, Davis repeatedly portrayed the country’s finances as a fiscal disaster inherited from the FNM.
And to be fair, there really was a fiscal disaster.
The COVID-19 pandemic had devastated tourism revenues, while Hurricane Dorian had caused damage exceeding 25 percent of GDP. The IMF itself acknowledged that Dorian and the pandemic substantially worsened the country’s fiscal position.
So yes, there were legitimate reasons for the debt explosion.
But here is the inconvenient part.
That was then.
Today, the hurricanes are not being used to close the borders. The pandemic is not shutting down the tourism industry. Hotels are operating. Cruise arrivals are at record levels. Government revenues have improved.
And yet the borrowing continues.
According to the government’s own Debt Management Office, central-government debt reached approximately $12.466 billion at the end of June 2026, an increase of $696.9 million in just one year. Public-sector debt was even higher, at approximately $14.6965 billion.
So, when The Nassau Guardian reports “Govt adds $700m in debt,” this is not some opposition invention.
It is sitting in the government’s own numbers.
And here comes the delicious irony.
The same political administration that spent years telling Bahamians that the previous government had to be held accountable for borrowing during a national emergency now wants Bahamians to admire its fiscal discipline while almost $700 million is added to central-government debt in one year.
Apparently, debt is only dangerous when somebody else is borrowing it.
Welcome to PLP Mathematics
Remember the $75 million surplus?
The government projected a $75.5 million overall surplus for FY2025/26. But by the end of March 2026—the first nine months of that fiscal year—the country was carrying a $157.3 million fiscal deficit. The government nevertheless maintained that the full-year surplus could still be achieved.
And, for clarity, that $75.5 million was a projection, not a final audited result.
Meanwhile, the new FY2026/27 budget has moved the goalposts again, projecting a $223.1 million surplus.
One might therefore be forgiven for wondering whether Bahamian fiscal policy has become less about arithmetic and more about faith.
Perhaps the formula is:
Spend + borrow + transfer + refinance = surplus.
And if the numbers don’t quite cooperate?
No problem.
Just move the decimal point, add a forecast, invoke economic growth and ask everyone to remain confident.
It is a rather remarkable system.
And Then There Is Beaches and Parks

Which brings us to the Bahamas Public Parks and Beaches Authority.
This is where the government’s fiscal-management story becomes particularly difficult to explain.
The authority had an approved budget of $29 million for the entire 2025/26 fiscal year.
By December 31, 2025, it had already spent $25.18 million.
In other words, after only six months, it had consumed approximately 87 percent of its entire annual allocation.
That should have set off every fiscal alarm bell in the Ministry of Finance.
Instead, the Treasury subsequently advanced another $18.7 million in loans to the authority between January and June 2026—$8.4 million in the third quarter and another $10.3 million in the fourth.
So let us understand this.
An authority receives a $29 million annual budget.
It spends $25.18 million in six months.
It then requires another $18.7 million in government loans.
And we are expected to believe that this is somehow compatible with a government boasting about fiscal discipline?
No, not again.
Where Is the Accountability?
The problem is not simply that Beaches and Parks spends money.
Government agencies are supposed to spend money.
The problem is that Bahamians deserve to know why the spending repeatedly exceeds expectations, where the money is going, what was delivered for it and who is being held responsible when budgets are blown.
Reporting by The Tribune in April noted that the authority had spent more than $141 million through December 2025, while audit reports that had been promised had not been publicly released.
That is the part that should concern taxpayers.
Because a government cannot demand more taxes from the Bahamian people in the name of fiscal responsibility while simultaneously treating budget overruns as though they are merely suggestions.
If an authority repeatedly exceeds its allocation, the answer should not automatically be:
“Here is another cheque.”
The answer should be:
“Show us the books.”
The Slush-Fund Question
And this is where the political hypocrisy becomes almost theatrical.
When Davis was in opposition, he lectured the FNM about spending, debt, accountability and the need to demonstrate a return on borrowed money.
In 2023, as Prime Minister, Davis himself declared that debt incurred by government should have a “sufficient return on investment” and criticized the previous administration for borrowing without enough to show for it.
Excellent principle.
But principles become rather less impressive when they are applied only to the opposition.
If $18.7 million more has to be borrowed for Beaches and Parks, the public deserves a simple explanation:
What exactly are Bahamians receiving for that $18.7 million?
And more importantly:
How does an authority with limited revenue-generating capacity repay the loans?
Those aren’t political questions.
They are accounting questions.
Tax Us, By All Means — But Show Us the Receipt
The government has now introduced new mechanisms intended to improve tax administration and collection.
There is nothing inherently wrong with that.
As the old saying goes, render unto Caesar what is Caesar’s.
But there is another principle that governments sometimes conveniently forget:
Caesar should be able to explain what he did with the money.
You cannot continually tell Bahamians that they must pay more, comply more, register more and contribute more while government entities appear unable to control expenditure.
The public should not be expected to live by austerity while government agencies operate on the philosophy of:
“Don’t worry, Treasury will find it.”
And perhaps that is the real difference between the FNM debt argument of yesterday and the PLP debt argument of today.
When Minnis borrowed during Dorian and COVID, Davis demanded to know:
Where did the money go?
Today, Bahamians are entitled to ask Davis the same question.
Only now the question comes with a rather inconvenient sequel:
Where is the money going—and why are we borrowing more of it?
Because if the Bahamas can supposedly have a surplus while adding nearly $700 million to central-government debt in a single year, perhaps the real national shortage isn’t money.
Perhaps it is accountability.
And when Beaches and Parks can burn through almost an entire year’s budget in six months and then receive another $18.7 million in loans, perhaps the country doesn’t have a revenue problem after all.
Perhaps it has a “don’t ask too many questions” problem.
But Bahamians are asking.
And they should keep asking.
Because the government’s money isn’t government money.
It is the people’s money.
And unlike a Rolex, Cartier, Tiffany, Louis Vuitton or UGG purchase, taxpayers don’t get to return it when the receipt doesn’t add up.
The PLP once demanded answers about the debt.
Now it is the PLP that owes the country some.
The Commonwealth of The Bahamas deserves better.
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