NASSAU, The Bahamas – While addressing a Joint Press Briefing with the Office of the Prime Minister and the Disaster Risk Management (DRM) Authority, on September 29, 2025, Prime Minister and Minister of Finance the Hon. Philip Davis said that storms like Tropical Storm Imelda “remind us once again who we are”.
“We know what it means to face hardship,” he said, at the event held at the DRM Authority Headquarters on Gladstone Road. “We know what it means to prepare, to endure, to recover. And we know that when we work together, we can meet any storm that comes our way.”
Among the senior Government officials present were Deputy Prime Minister and Minister of Tourism, Investments and Aviation the Hon. Chester Cooper; Minister of Education, and Technical and Vocational Training the Hon. Glenys Hanna Martin; Minister of National Security the Hon. Wayne Munroe; Minister of State with Responsibility for Disaster Risk Management Leon Lundy; Commissioner of Police Shanta Knowles; and Commander of the Royal Bahamas Defence Force Commodore Floyd Moxey.
“Watching multiple storms gathering in the Atlantic last week, it was clear to me that our advocacy for The Bahamas on the world stage continues to be critical,” Prime Minister Davis continued. “It has yielded some good results, and we need to keep fighting.”
He added: “At the United Nations, where I was, I carried your voices into one of the world’s great halls. And I reminded the world that Bahamians are living on the frontlines of a changing climate.
“Scientific studies confirm that climate change is warming waters, and those warmer waters are driving up the intensity of storms in the Atlantic basin.”
Prime Minister Davis pointed out that every major storm left behind damage that Government must repair.
“Roads are washed out,” he said. “Schools and clinics are ruined. Homes and docks are destroyed. Rebuilding – just to get back where we started – is a necessity, not a luxury.”
“Hurricane Joaquin, Hurricane Matthew, Hurricane Irma, Hurricane Dorian – these storms alone caused more than $6 billion in direct damages – and then consider the economic disruption, the environmental damage, the significantly higher insurance premiums,” Prime Minister Davis added.
He noted that the indirect costs nearly doubled The Bahamas’ losses.
Prime Minister Davis said: “So cleaning up after each storm means new borrowing. Year after year, hurricane after hurricane, our debt rises as we rebuild what was already built before. And while we are busy fixing what was lost, lenders are factoring our climate risk into their interest rates – which means it’s more expensive to invest in the things we need, from better hospitals to new industries to stronger infrastructure to withstand stronger storms. Also, insurance companies are factoring our climate realities into their premiums, causing our premiums to be higher.”
“This is the trap that climate change sets for countries like ours,” he added. “We contribute little to the emissions that cause climate change, yet we face destruction that pushes us deeper into debt, and then our debt and climate risk make new investments – in our country, and in our people – more expensive.”
Prime Minister Davis stated that, at the United Nations, and in other organizations, his Government was working to strengthen coalitions of small island states and countries in the global south because “we have more leverage when we work together”.
“We are clear: we need financing that is fair, and does not punish us for disasters we did not create,” he said. “We need real support that allows us to rebuild without sinking further into debt.”
“For Bahamians, climate change is not just about wind and water,” Prime Minister Davis added. “It is about the weight of debt on our shoulders, limiting what we can do for our people.”
He pointed out that his Government had made important progress on climate finance, and “there’s a lot more work ahead”.
Prime Minister Davis said: “Just as the most severe consequences of climate change occur in countries which pollute the least, other serious problems cross borders with ease. Guns and drugs from abroad are a plague on our communities. Inflation elsewhere leads to higher prices at home. War and conflict drive up energy prices. Crisis and instability rarely stay contained.”
“Which brings me to Haiti,” he continued. “For too long, The Bahamas has been left to carry the weight of Haiti’s crisis. It is not fair to us as Bahamians. As I have said before: Our country has been through a lot. We have very serious challenges and limited resources with which to face these challenges.”
Prime Minister Davis stated that Bahamians were a compassionate people; but they cannot take on burdens that were not ours.
“So, at the United Nations, I made it clear that The Bahamas cannot, and will not, carry Haiti’s problems on our backs,” he said. “We will defend our borders. We will protect the opportunities and services that belong to Bahamians. And we will keep pressing the international community to do much more.”
Prime Minister Davis stated that stability in Haiti required real commitment from global powers, from regional partners, and from international institutions.
“We will be a good neighbour, but not at the expense of our own people,” he said.
“I said this at the United Nations because I know Bahamians expect me to stand up for them,” Prime Minister Davis noted. “And I will keep doing exactly that.”
He pointed out that he also underlined The Bahamas’ commitment to peace and stability in the region.
“The Caribbean must remain a place where people can build their futures without fear of conflict or disruption,” Prime Minister Davis said. “That requires cooperation with our neighbours. It requires strong regional institutions. And it requires international partners who respect our sovereignty and share our vision of prosperity.
“A bigger Bahamian economy, with many more Bahamian success stories – that’s what I’m working to build.”
“In New York last week, I had our country’s economic future in focus,” Prime Minister Davis added. “Because we can’t only worry about risks. We must also seize opportunities.”
He noted that that was why his Government was advancing its efforts to make The Bahamas a hub for data storage and digital services.
“There is extraordinary demand for reliable offshore data hosting and demand for specialized digital service sectors, including cloud computing, cybersecurity, and colocation services,” Prime Minister Davis said. “We can play a significant role for global companies seeking well-regulated environments.”
He added: “This is about diversifying our economy. It is about creating new industries. It is about giving young Bahamians meaningful careers in the digital age.”
Prime Minister Davis announced that, In New York, he met with leading global firms in that field. He pointed out that the discussions were positive; and he believed that they could lead to real investments in The Bahamas.
“If we act with urgency, The Bahamas can secure its place in the new digital economy; and I intend to make sure that we do,” he said.
Prime Minister Davis added: “While in New York, we also expanded our circle of diplomatic friends. The Bahamas established diplomatic relations with Senegal, Kyrgyzstan, Djibouti, Palau, and Angola. These partnerships will create opportunities in trade, in cultural exchange, and in international cooperation. And as I said earlier, our voice is stronger in global forums when we work with others to speak in a unified way on key issues.
“Finally, I want to thank the Bahamian people, for the privilege of the work we do. There are – inevitably – bumps along the way, but we are making important progress on many fronts.”
He added that in the prior week, S&P Global Ratings announced that The Bahamas’ long-term sovereign credit rating was upgraded with a stable outlook, from B+ to BB-; and a likely further upgrade will happen in the short term.
“This is our country’s first upgrade in more than a decade,” Prime Minister Davis said. “It tells the world that confidence is returning to the Bahamian economy.”
He added: “Where there was doubt, there is now trust in our ability to grow, manage debt, and create stability. A stronger rating opens the door to lower borrowing costs, greater investor confidence, and new opportunities for Bahamian businesses.”
That upgrade, he pointed out, was not “the end of the road”.
“There is still work ahead; but it is proof that progress is real, that step by step, our country is moving in the right direction,” Prime Minister Davis stated.
“So tonight, even as we mark that progress, we are also carrying the weight of loss and the lessons of resilience,” he added.
Prime Minister Davis noted that The Bahamas was mourning the passing of Minister of the Environment and Natural Resources the Hon. Vaughn Miller, who died on September 28, 2025. Earlier in his remarks, Prime Minister Davis said that Minister Miller’s passing was a shock.
“It is a loss felt not only in government, but in homes and communities across our country,” he said earlier in his remarks.
“We are recovering from Tropical Storm Imelda, and we are reflecting on the work we carried out at the United Nations,” Prime Minister Davis noted. “These may seem like separate moments. But together, they tell the story of who we are.”
He added: “Vaughn’s life reminds us that leadership is about service and humility. Imelda reminds us that resilience is part of our national character. And the United Nations reminds us that even a small country can stand tall when it speaks with clarity and purpose.”
Prime Minister Davis continued: “We have known sorrow before; and each time, we have honoured and healed. We have known storms before; and each time, we have prepared, endured, and rebuilt. And though we are small in size, time and again we have raised our voice, and the world has listened.”
He pointed out that that was the story of The Bahamas.
“That is the strength of our people,” Prime Minister Davis stated. “So today, let us honour Vaughn Miller. Let us remain cautious until every storm warning is lifted.”
And let us move forward with confidence, together,” he added. “May God bless the memory of Vaughn Miller.”
