NASSAU, The Bahamas - A
Resolution was tabled and unanimously passed in the House of Assembly
January 30 to secure a government guarantee for a $250 million private
placement in the International Financial Markets by the Bahamas
Electricity Corporation (BEC), as the Corporation seeks to restructure
its debt portfolio.

Moving the Resolution was Minister of State
for Finance, the Hon. Michael Halkitis, who pointed out that the
government, guaranteed $211 million of the debt on the 20th October 2009
with an additional $35 million borrowed on the 27th August 2012.