Bahamas seeks help to pay off debt brought by huge storms, result of climate change
Bahamas Prime Minister Philip Davis tells The Associated Press that his nation is in a financial pickle
NEW YORK (AP) — The Bahamas is stuck in a financial pickle, much of it because of the whims of climate change, bureaucracy and the fossil fuel industry, said its prime minister, who adds that he is tired of promises of help but little action.
And he's not alone.
Like many other countries in the Global South, Bahamas has a lot of debt from warming-connected weather disasters its leaders say it did little to cause.
In October 2016, a powerful Category 4 Hurricane Matthew slammed into the Bahamas, causing more than $7 million in damage. Then in 2019 Hurricane Dorian, the strongest storm to hit his country on record, caused $3.4 billion in damage. By comparison the country’s annual revenue is only $2.8 billion to $2.9 billion a year, Davis said. So just four days wiped out more than a year’s worth of revenue.
