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‘I don’t understand the reluctance to touch the reserves’- Hon Fraser

-Hon Andrew A. Fahie has repeatedly said financial stipulations are a hindrance
Senior Opposition Member, Hon Julian Fraser RA (R3) said he does not understand the reluctance of the Andrew A. Fahie (R1) led administration to touch the reserve funds and create a COVID-19 economic package. Photo: VINO/File
Premier and Minister of Finance, Hon Andrew A. Fahie has laid out the government’s position regarding borrowing money, noting that the Protocols of Effective Financial Management in place and the UK reluctance the relax conditions is a hindrance. Photo: VINO/File
Premier and Minister of Finance, Hon Andrew A. Fahie has laid out the government’s position regarding borrowing money, noting that the Protocols of Effective Financial Management in place and the UK reluctance the relax conditions is a hindrance. Photo: VINO/File
Opposition Leader Hon Marlon A. Penn (R8) has said the Territory had known since December 2019 that COVID-19 was real and had enough time to get a plan in place; however, the virus was categorised as a pandemic until March of 2020. Photo: VINO/File
Opposition Leader Hon Marlon A. Penn (R8) has said the Territory had known since December 2019 that COVID-19 was real and had enough time to get a plan in place; however, the virus was categorised as a pandemic until March of 2020. Photo: VINO/File
ROAD TOWN, Tortola, VI – Senior Opposition Member, Hon Julian Fraser RA (R3) has said he does not understand the reluctance of the Andrew A. Fahie (R1) led administration to touch the Reserve Fund and create a COVID-19 economic package.

Premier and Minister of Finance, Hon Fahie has laid out the government’s position regarding borrowing money, noting that the Protocols for Effective Financial Management in place and the UK's reluctance to relax conditions are a hindrance.

According to Hon Fraser, “People in this Territory should not be guessing right now when they go to bed tonight what tomorrow is going to hold. We should have the stimulus available to them already, knowing exactly every two weeks I’ll go and collect x amount of dollars,” he said at a Tuesday, May 19, 2020, Opposition Press Conference.

He called on the government to put systems and mechanisms in place in the event disaster hits, such as an unemployment fund to assist the needs of the people.

VI knew about COVID-19 since December - Hon Penn 

Meanwhile, Opposition Leader Hon Marlon A. Penn (R8) said the Territory had known since December 2019 that COVID-19 was real and had enough time to get a plan in place; however, the virus was categorised as a pandemic until March of 2020.

Premier Fahie has said Government can only borrow about $110M in loans without violating the protocols; however, he added that it has been trying to renegotiate with the UK, for the past 15 months, the conditions of the Protocols as more monies could be needed if disaster strikes again.

According to the Premier; the conditions 'as is' must be revisited and vague language defined before he can move forward with any plans in his capacity as Minister of Finance for an economic package.

As global figures continue to soar, the Virgin Islands has been praised for its bold measures and continues to have one of the lowest infection rates in the world and region with just 8 confirmed COVID-19 cases, inclusive of 1 death.

22 Responses to “‘I don’t understand the reluctance to touch the reserves’- Hon Fraser”

  • ?? (25/05/2020, 11:39) Like (29) Dislike (9) Reply
    Hon. Fraser with all due respect, you are not awoke as yet. Hon. Fahie could see right through the UK tactics. Before COVID-19, UK was willing to guarantee up to 400 million in loans but did not want to explain the other measures and mechanisms in the protocol agreement so BVI could stay within its ratios; and now we ask for aid because of the effects of the 2017 storms and the pandemic, UK wants to force us to use up our reserves - all because the Premier is awoke and asked the right questions. The Premier said it out loud about the hidden agenda of forcing us to lay off many from the Public Service which was what Hon. RTO was pressured to do for about 20 years and pushed back. It is out of hand, but the attrition cannot be sudden but gradual, otherwise the society and economy would go into free fall.
    • BuzzBvi (25/05/2020, 23:02) Like (0) Dislike (1) Reply
      Uhh, No. They just do not want all the money to go to the same people. NDP or VIP that leaves a lot of the voting people with nothing. Were does the money go. If I was young I would be a Bishop and the money would follow me.
  • I wonder (25/05/2020, 12:14) Like (34) Dislike (6) Reply
    With comments like that, I wonder where the country would be now if people like Fraser and m.penn were in power. Oh no..scary thought.
  • frazier (25/05/2020, 12:17) Like (21) Dislike (3) Reply
    U too blinded focussing on try make ur self look good over andrew ....it s that stubborn u really is popa ...u sick man ...and for someone with knowledge of wat really going on ..u dont even care about no one of this territory most best interest.
  • My girl (25/05/2020, 12:18) Like (24) Dislike (4) Reply
    This is ridiculous, like really now it is... Time for Fraser to retire, the entire opposition is out of touch.
    • Styler (25/05/2020, 16:18) Like (7) Dislike (0) Reply
      They are really out of touch... Frazer don’t give a rats A...xx about this territory. Remember he said Hon Premier I didn’t though that he Frazer would have been sitting on the opposite side that’s why hurting him so he has to find negative things to comment on he’s hurting
  • u (25/05/2020, 12:24) Like (3) Dislike (4) Reply
    U see how easy it is to keep black people down ..hmmm...just by giving them something to share where power is concerned....look how there tearing down that man fahie ....shame on the vip ....Frazier Marlon. no brain and the rest of them .....that why may be mark dont show much interest.....
  • eyes (25/05/2020, 12:25) Like (8) Dislike (1) Reply
    I surprised by you Mr Fraser , just spend just dish out and when it's all finish you be there were did it go , see why you will never be a Premier you not consistant today you say one thing and tomorrow it's a next people like you will make us end up in poor house begging for help while you comfortable. You no difference from the governor all show why you not saying you willing to take a pay cut or help those that you say need help . Don't be a talker be a doer. A sheep in wolf clothing
  • Yes (25/05/2020, 12:42) Like (3) Dislike (2) Reply
    Not even the old ndp was so out of touch no wander mark hardly show he face ...shame full man ...
  • True (25/05/2020, 12:43) Like (2) Dislike (3) Reply
    All the sheep he is talking about the reserve fund not borrowing from the $300mil loan , this is money the BVI has as a slush fund and its not using it this along with the Social Security there is $1.2 billion in cash reserves and the Government is not using it.......
  • clown (25/05/2020, 12:46) Like (0) Dislike (0) Reply
    Feel for the opposition leader he dont even kno he next in line of that celebrity kraven Frazier...he there hotta raven...little do he kno..lol
  • Comment (25/05/2020, 13:01) Like (10) Dislike (3) Reply
    Mr. Fraser, this is way you are not the Premier of the Virgin Islands!
  • 007 (25/05/2020, 13:07) Like (9) Dislike (3) Reply
    This is why I hate politics. The opposition always have to oppose but agree with everything when they are in power. It's so predictable and insulting because they actually think that they can score points by appealing to some people's loyalty or stupidity.
  • bi water (25/05/2020, 13:17) Like (3) Dislike (8) Reply
    this the same man who brought in digicel and bi water to kill off local enterprises
  • ReX FeRal (25/05/2020, 14:49) Like (10) Dislike (3) Reply
    Do not touch the reserve funds. End of story.
    • True (25/05/2020, 16:59) Like (6) Dislike (6) Reply
      so when should they touch them? Hurricane? they were offered access to cash and after nearly 3 years still don't know what to do,its a joke, this is what the reserve fund is for, I am not saying give it out as cash but DO SOMETHING
      • x (26/05/2020, 08:52) Like (2) Dislike (0) Reply
        We were NOT offered cash. All they offered to do was back any loans we got. We would still have to pay back the loans ourself. Even though they offered to back up to $300 or $400 million, according to the protocols, we can't borrow that much. Ultimately the UK wants us to cut the civil service and send people home. Yes they want to put a whole lot of people out of work, but you still can't beg them for anything.
  • Local (25/05/2020, 15:36) Like (4) Dislike (2) Reply
    Mr Fraser need to go and sleep our eyes are open don't try that we have a strong leadership
  • BIG M (25/05/2020, 20:25) Like (5) Dislike (3) Reply
    Mr. Premier, Mr Fraser had a chance to be with VIP but he chose to have his own party. He is so arrogant and can't work with people. The people of the territory voted for Fahie to lead this country but instead of the opposition working with VIP government they are trying to pull down the government. No Marlon, Fraser or Mitch could turn our mines from Premier Fahie and his government.
  • fahie (26/05/2020, 04:00) Like (2) Dislike (1) Reply
    Congratulations....for ur most best effort and good job ...continue the journey will be rough more so because the critic thst after to devourer u but God is behind all righteous figth...
  • Candi (26/05/2020, 12:31) Like (0) Dislike (6) Reply
    Hon. Penn, we appreciate your concern, however, this concern was needed in 2017 when your party was in power for Irma. Your party offered NO PLAN & NO CLUE, so please calm down and give the NEWLY APPOINTED government their rightful credit.

    Hon. Frasier, some of us forgot you were an active Politian after the cat caught your tongue while you sat on the opposition with the NOW PREMIER. Oh, and where was this energy and concern for the people when your signed that Bi-water contract, or even when you got bored and decided the roundabout needed a traffic light? Please stop being so salty because you lost the seat you wanted. Its all politics, so please understand its a day for you and a day for someone else. RELAX!
  • ReX FeRal (26/05/2020, 16:07) Like (0) Dislike (0) Reply
    Does this man remember $500,00.00 wasted on traffic lights around the roundabout in Road Town? Hmm


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