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‘Ain’t anybody who try to get you out of doo-doo is your friend’- Hon Fahie

- says UK is setting up the VI to borrow money out of range although it is a violation of the protocols signed between them & the UK
Honourable Andrew A. Fahie (R1), Opposition Leader, has stated that the United Kingdom is setting up the Virgin Islands (VI) to borrow money despite it being a violation of the Protocol for Effective Financial Management (PEFM) signed between the VI and the United Kingdom (UK). Photo: VINO
The debated on the Bill entitled: Virgin Islands Recovery and Development Agency 2018 wrapped up today and Members are now in Committee Stage. Photo: VINO/File
The debated on the Bill entitled: Virgin Islands Recovery and Development Agency 2018 wrapped up today and Members are now in Committee Stage. Photo: VINO/File
Hurricane Irma and Maria devastated the Virgin Islands in September 2017. Government is now seeking loans to aid in the recovery. Photo: VINO/File
Hurricane Irma and Maria devastated the Virgin Islands in September 2017. Government is now seeking loans to aid in the recovery. Photo: VINO/File
ROAD TOWN, Tortola, VI – As the members of House of Assembly (HoA) continued to debate the Bill entitled 'Virgin Islands Recovery and Development Agency Act 2018', Opposition Leader Honourable Andrew A. Fahie (R1) stated that the United Kingdom is setting up the Virgin Islands (VI) to borrow money despite it being a violation of the Protocols for Effective Financial Management (PEFM) signed between the VI and the United Kingdom (UK).

During the continuation of the Third Sitting of the Third Session of the Third House of Assembly (HoA) on Friday, March 26, 2018, Hon Fahie told the House that the VI is not permitted to borrow more than 80 percent of its recurring revenue which he stated is about $250 million.

The UK is guaranteeing the VI a sum of $400 million even though they have not relaxed or amended the Protocols for Effective Financial Management.

He said when he looks at the protocols the UK is offering nothing to the VI but a longer leash or a noose depending on one's perspective. "We already have financial protocols in place whereby the UK regulates and approves BVI public debt. Therefore, BVI debt is already guaranteed implicitly as a UK dependent territory and explicitly approved by the financial protocol. We also already have the capacity to borrow up to 80 percent of our recurrent revenue which is about $250 million. So quite frankly borrowing any more than that is completely irresponsible and will unduly burden future generations.”

“This is a backdoor move” by the UK

Meanwhile, the Opposition Leader pointed out that the protocols cannot be overlooked because government will be in violation of the agreement signed in 2012 with the UK.

“This cannot get in isolation on the protocols. They call for us to get loans that is going to put us out of our range which means that if the protocols are not relaxed and if the UK don’t say that while we are getting these loans we are going to relax that section of the protocols, then they are allowing us to get loans without relaxing the protocols but they will still be enforced and they will hold us responsible for what’s in the protocols which going to carry the agency past five years up to 30 to 40 years. This is s backdoor move,” Hon Fahie explained.

He continued, “You want to help but you cannot help if you don’t have everything on the table and we cannot help if that section of the protocols is not relaxed because then they would have helped us to be in violation of the protocols and because it’s still enforced they will hold us for violating the protocols and government after government will be held hostage and we can’t do a next thing.”

“I want to say yes but protocols must be amended”

Hon Fahie then told the House that he wants nothing more than to say yes but he cannot until he is sure that the protocol is amended so they would not be in violation.

“I want to say yes. I don’t want anybody leaving from here thinking I want to say anything else other than yes but I can’t say yes unless I have all the documentation on the table. I want to know the 80 percent limit in the protocols on borrowing levels must be amended for when we add $400 million to the existing outstanding loans the BVI will be subject to penalties from hence, which could be direct rule. Those have to be amended,” the First District Representative emphasized.

He continued, “You know why I’m not letting the British off the hook? They set us up to fight with each other. You have to be careful what kind of help you get. Ain’t everybody who doo-doo on you is your enemy and it ain’t everybody that try to get you out of doo, doo is your friend.”

The Bill is currently being reviewed in Committe Stage.

23 Responses to “‘Ain’t anybody who try to get you out of doo-doo is your friend’- Hon Fahie”

  • Agree (26/03/2018, 18:37) Like (13) Dislike (7) Reply
    Don't let them doo-doo on us Fahie
    • island man (26/03/2018, 21:19) Like (12) Dislike (15) Reply
      At least they got you out of the doo doo and you should be thankful. I hope your friend leave you in the doo doo let me see how happy you and the economy will be by December.
  • just asking... (26/03/2018, 18:57) Like (1) Dislike (3) Reply
    The question is how will Fahie vote?
    • @just asking (26/03/2018, 22:04) Like (13) Dislike (1) Reply
      Fahie was clear to me. Once the bill is amended to ensure that the people of the BVI gets a good deal and their fair share in a transparent and accountable manner than he will vote yes.
      • CONFUSE (27/03/2018, 08:07) Like (0) Dislike (0) Reply
        You can borrow upto $400 million but you dont have to. So my suggestion to the Hon Mr. Fahie is just borrow $250 million, at lease for now. Also, you are not borrowing it all at once but over a period of toime as necessary.
      • harry the judge (27/03/2018, 10:53) Like (5) Dislike (2) Reply
        Tell Fahie and all them other politicians stopping trying to fool people! Them only upset and kicking up because how the proposed bill is now, they can’t hook them friends up with no big contact!

        We will finally have transparency. Don’t think Fahie looking out for the BVI, he looking out for his selected few!

        Fahie I am in your district and I am disappointed in you. God is not pleased! No wondering the Territory in this mess, not one politician can be trust to have the best of the Territory at heart.

  • great (26/03/2018, 19:33) Like (6) Dislike (8) Reply
    Conspiracy theory? What a mindset. So what's next. Amazing. BVI really is troubled and in trouble.
  • boy blue (26/03/2018, 20:05) Like (1) Dislike (4) Reply
    All loans must first be approved by the UK right?
    If the loan amount over the limit was obtained with UK's approval,why would there be a penalty?
    I m missing something here.
    Also recurrent expenditure as time moves on will be varied so the 80% amount noe allowed,will be variable .
    Protocols will adhere to different amounts and so must be flexible.and having extra moneys in the loan is a reserve .Certainly 80% of recurrent expenditures 10 yrs in the future will not be comparable to 2018. Also the UK flexibility will quite possibly include the political climate in the
    BV,I and track records of specific political parties ,specific members ,their positions and role in governing at the time
  • Yes (26/03/2018, 20:24) Like (11) Dislike (6) Reply
    I like how he always uses a proverb in his speeches
  • Nice work (26/03/2018, 20:43) Like (6) Dislike (6) Reply
    But recurring revenue is about $300m. And if UK approved more then there is implied consent.

    And really, that’s the best argument you come up with?

    The UK would willingly ditch the BVI. It gets little benefit (unlike eg from Jersey where there are large sterling deposits which get sent to the City of London). UK is stuck with BVI due to guilt and because it has tried not to abandon its colonial past to corruption (unsuccessfully on many occasions in Africa but at least a little more dignified than Belgium).
  • Hmmm (26/03/2018, 22:00) Like (14) Dislike (5) Reply
    I was really impressed with Fahie's presentation in the debate.
  • chad (26/03/2018, 22:01) Like (12) Dislike (4) Reply
    It is only after I listen to Fahie is when I really understand what the bill is about. Good job Fahie.
  • First district (26/03/2018, 22:02) Like (11) Dislike (4) Reply
    I am proud of our man on a mission.
  • Thumbs Up (26/03/2018, 22:05) Like (12) Dislike (4) Reply
    Hon. Fahie was on point. Good looking out for the people.
  • My Take (26/03/2018, 22:06) Like (11) Dislike (4) Reply
    Fahie presented so well on the bill that he made the majority of the people in the BVI proud.
  • Not Sure (26/03/2018, 23:29) Like (9) Dislike (7) Reply
    I still don't understand what is so bad of the bill, what is the argument.
    • Jacperlance (27/03/2018, 07:02) Like (11) Dislike (6) Reply
      @Not Sure. Well after all the speeches in the HOA as pertaining to this bill and you still don’t see what is bad then something got to be wrong with your head. Your teachers must have had a real hard time with you in school
  • respect (27/03/2018, 00:07) Like (8) Dislike (5) Reply
    Fahie is a special son of the soil. God be with you my courageous brother. Everytime I listen to you I feel hope.
  • nonsense (27/03/2018, 07:34) Like (5) Dislike (8) Reply
    Fahie plz sit down. We are tired of you. Simple.
    • to nonsense (27/03/2018, 08:57) Like (0) Dislike (1) Reply
      You really picked the right name to use for your post...NONSENSE!!!
  • deceived (27/03/2018, 09:13) Like (1) Dislike (0) Reply
    Lets not forget the Theresa May (UK) Government is new and looking back since 2004 when some of our civil servants got imprisoned for alleged corruption the BVI has been spending carelessly since. Both VIP and NDP have had a long track record of alleged corruption and misspending. The people are been deceived by those against. This money will not have anything to do with the yearly budget and it will be regulated by an independent body.

    The whole long and short is that the UK is saying we cannot trust this government and their cronies to spend this money and build back the infrastructure well. Man the place was in a mess we saw roads that were widen in the mid 90's without drainage. We saw concrete poured out rough, roads been asphalted by private companies on cloudy and rainy days .
  • NB (27/03/2018, 09:20) Like (1) Dislike (5) Reply
    Fahie take a seat. I had great respect for you but lately the things coming out your mouth is out of desparation. Seek therapy, maybe the stresses of Irma is taking its toll on you.


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