Bermudians to get First Right to All Future Government Debt/Bond Issuance
From "Suggestions to stimulate economic recovery for Bermudians once Shelter in Place ends"
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With all the major benefits of issuing debt to locals, in local currency (interest payments go to Bermudians to spend locally, not foreigners, and maintaining the balance of Bermuda dollar FX trade by reducing foreign currency purchases, among others), why has this not become the standard already?
The Bermuda Bond is a great idea as many Royal Gazette articles have recently pointed out. It should become the baseline standard that any debt issuance by the Bermuda Government is first issued locally to Bermudians in Bermuda Dollars before reaching to foreign markets in USD.
Let locals gain the interest and reinvest in in Bermuda rather than send all of it overseas.
