Prime Minister Dr Hubert Minnis said on Sunday he was very conservative when he said at the Summit of the Americas in Lima, Peru, that The Bahamas loses over $200 million a year due to corruption and estimated the figure at $500 million. Photo: Caribbean News Now

Minnis made the revelation at a press conference when he returned from his visits to Lima and London, where he attended the 25th Commonwealth heads of government meeting (CHOGM).

"… I’ve read many things here in the newspaper while travelling,” he said, during his summation of the trips.

“The theme in Peru was anti-corruption. All nations present, including the United States, would have made their contribution in terms of corruption.

“The Bahamas, being a part of the world order, would have made its contribution also informing the world what we have done [and] our progression in terms of our contribution on anti-corruption.

“Every country would have done similarly. What was amazing was that all of us were basically on the same train, the same track, coming out with the same type of legislation.

“… It was pointed out by the world leaders that about five to ten percent of our nations’ GDP is lost through corruption; and in some instances, it might be as high as 30 percent.

“When you look at The Bahamas, with a GDP of about $10 billion, if we were to take the lower of the world’s figure, which is five percent, the lower of the world’s figure, that would mean that The Bahamas loses approximately $500 million per annum as a result of corruption, according to world’s figures.

“I was very, very conservative when I said in The Bahamas it is probably $200 million, which was below the world’s figures. I was being conservative.”

On the sidelines of the summit in Peru, Minnis made the revelation that the country loses over $200 million a year due to corruption.

When asked on Sunday where he got the figure from, Minnis said, “That’s the figures that were provided while in Peru.”

Asked which organization provided the figure, Minnis said, “That’s the Summit of Americas.

“Even when I spoke to the finance minister there in the UK, his view was that it’s by far higher than that. But that’s a figure provided at the Summit of Americas, five to ten percent of one’s GDP is lost through corruption.

“So if you want the true figure, if The Bahamas’ GDP is [$10 billion], if we look at the lower limit, five percent because we are a religious nation, so let’s put us at the lower level, five percent. You are talking about $500 million.”

The Bahamas’ gross domestic product is $10.7 billion, according to the Department of Statistics.

The Guardian asked Minnis how this money is lost through corruption, he responded, “Many forms. If the government provides pens, papers, clips etc., and I take that home, that’s corruption. That’s abuse. So it’s different forms of corruption. You thinking about only ‘tiefing’. No, there are different forms.”

Corrupt

Following Minnis’ statement in Peru, Progressive Liberal Party (PLP) leader Philip Brave Davis called on the prime minister to provide proof of his claim and chastised him for the “bad mouthing of our country” around the world.

“The prime minister cannot make such an assertion without saying on what empirical data he bases this statistic or assertion,” Davis said.

“I ask him to provide the evidence.

“I have said this to him before. The Bahamas is the least corrupt country in the region. The international community accepts that this is so.

“Notwithstanding the facts, the prime minister goes around the world and the best he can do is tell the world in defiance of the truth that the country is corrupt. The prime minister’s conduct is inexcusable and inexplicable.”

Asked his response, Minnis said, “I went through it slowly so that the opposition would understand what I said; you should not be speaking in the dark. I always remember a very excellent quote.

“I cannot remember the author, but I love the quote; it states, ‘I would prefer to get punched in the face by the truth than kissed on the cheeks by lies.’

Tackling corruption was a major theme of the Free National Movement (FNM) ahead of the 2017 general election.

In his first national address as prime minister, Minnis said he was “disturbed” that some people believe politicians in The Bahamas are above the law and should not be held accountable for alleged misconduct while in office.

“It is unfair and unjust for politicians to accumulate considerable wealth from corruption, while the citizens of a country, especially the poor, are left behind,” he said.

“We need a new era of public integrity and reform. This era is upon us.”