Money from BTC sale 'will go towards national debt'

Thu, Dec 2nd 2010, 10:00 PM

THE Ingraham administration is "committed" to constructing a new public hospital for New Providence, but is compelled by the weak global economy to use the money from the sale of BTC to go towards paying off the national debt.

During the 2008/2009 budget debate, Prime Minister Ingraham had pledged that with the proceeds of BTC's privatisation, the government would build a new hospital.

But the $210 million Cable and Wireless is giving the government for its 51 per cent stake in BTC will now go toward paying down the rapidly escalating national debt.

However, Mr Ingraham said the government is committed to a new hospital in the Bahamas, and as soon as they are able to see "our wa ...

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