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'You could end up with nothing'- Hon Fraser tells Premier Fahie

- Questions how UK negotiations on Loan Guarantee could be a 'success' with outcome still unknown
'You could end up with nothing,' a warning from Third District Representative, Hon Julian Fraser RA (R3) to Premier and Minister of Finance, Hon Andrew A. Fahie (R1) over the possible outcome of the Virgin Islands/UK Loan Guarantee negotiations regarding adjustments to the stipulations of the loans. Photo: VINO/File
Premier and Minister of Finance, Hon Andrew A. Fahie. Photo: VINO/File
Premier and Minister of Finance, Hon Andrew A. Fahie. Photo: VINO/File
Premier and Minister of Finance Honourable Andrew A. Fahie (R1), left, met with Minister of State at the Foreign and Commonwealth Office, Lord (Tariq M.) Ahmad, right, to discuss the Virgin Islands/United Kingdom relationship and the Loan Guarantee. Photo: Facebook/File
Premier and Minister of Finance Honourable Andrew A. Fahie (R1), left, met with Minister of State at the Foreign and Commonwealth Office, Lord (Tariq M.) Ahmad, right, to discuss the Virgin Islands/United Kingdom relationship and the Loan Guarantee. Photo: Facebook/File
ROAD TOWN, Tortola, VI - "You could end up with nothing," was a warning from Third District Representative, Hon Julian Fraser RA (R3) to Premier and Minister of Finance, Hon Andrew A. Fahie (R1) over the possible outcome of the Virgin Islands/UK Loan Guarantee negotiations regarding adjustments to the stipulations of the loans.

Premier Fahie was at the time speaking on what he called 'Successful negotiations' during his recent trip to the UK at the Eleventh Sitting of the First Session of the Fourth House of Assembly which commenced on Thursday, October 17, 2019.

'I acted in time' - Premier Fahie 

Hon Fraser had sought to know whether the Virgin Islands had reacted before or after the UK ultimatum to take up the loan, to which the Premier said he reacted on time. 

"I acted in time and informed the Foreign and Commonwealth Office of our intention to access the guarantee. However, negotiations are ongoing since they are a couple of negotiation points yet to be resolved by the parties. Through these negotiations we were able to achieve flexibility in the September 30th deadline," Premier said. 

Following more questions, the Premier said, however, that while he achieved flexibility, he would not reveal too many details into the public domain which could hamper the ongoing negotiation process. 

Hon Fraser responded, "You acknowledged the 30th as a deadline and sought an extension, but at the same time, you are saying it was a resounding success?"

"You don't know what the outcomes of these discussions would be, you could end up with nothing... how could it be a resounding success if you have nothing?" Hon Fraser said in questioning the role of the Virgin Islands Recovery and Development Agency (RDA) in the UK loan conundrum.  

'People want to see us fail' - Premier 

According to Premier Fahie, "I know that they are those who hope we end up with nothing, but one thing we [are going] to do is try, and one thing we [are] doing is to make sure that we try in the best interest of the people of the Virgin Islands (VI). I pray to God that we do not end up with nothing," he said in response. 

Hon Fahie continued, "but if it comes to that point, I can go to the people of the Virgin Islands and then say... these are all the areas that I was fighting on your behalf and this is what we were able to get done or not done," he said. 

The Premier reiterated that while the UK has been open and receptive, discussions are delicate and he cannot reveal the full details, "both sides are listening to each other, and the deadline has been extended so that we can discuss further to find common ground in some areas," he said.

The Leader of Government Business further noted that the deadline extension was a victory on its own and that the UK is accommodating and have since been reasonable throughout the negotiation process. 

9 Responses to “'You could end up with nothing'- Hon Fraser tells Premier Fahie”

  • pat (31/10/2019, 14:45) Like (7) Dislike (6) Reply
    Fraser time has pass but he is making very good points
  • bam (31/10/2019, 14:53) Like (1) Dislike (14) Reply
    Yes Fahie full speed ahead like lightning.
  • Queso (31/10/2019, 19:39) Like (6) Dislike (1) Reply
    That something which will be handed to us would likely be the welfare grant which would be more in keeping with putting us in our place deemed by the colonial powers. When Andrew came back from his hurried last minute session in the UK,regurgitating the fact that the former Premier was a bad boy,having said no to the Powers offering that we were not beggars, I concluded that Andrew would be or had sold the pride dignity and soul of the VI and its people. Awaiting confirmation.

    Reparations YES !
    Welfare NO !
  • hog city (31/10/2019, 20:09) Like (1) Dislike (1) Reply
    Frazer needs to cross the floor
  • mischief (31/10/2019, 20:33) Like (1) Dislike (3) Reply
    Who would he say something like this? Are these people for our against the BVI?
  • justin (01/11/2019, 03:51) Like (1) Dislike (1) Reply
    Negative Vibes won't help solve the problems.
  • Hmmm (01/11/2019, 10:08) Like (2) Dislike (1) Reply
    Fahie wrong..... Very wrong..... Why come to the people when you fail to explain why you failed. Why not come to the people keep us updated with discussion and progress so we can help you to succeed...
  • hope not (01/11/2019, 10:11) Like (1) Dislike (1) Reply
    We cannot fail.. We need this money badly. The future and progress of the BVI will depend greatly on this money and the proper spending and investing... If we ended up with nothing. Fahie and the VIP will failed us Grossly.....
  • If we get nothing? (03/11/2019, 06:36) Like (2) Dislike (0) Reply
    Y'all bunch of dunces with computers and smartphones..... there is nothing too GET. There is no give away from the UK.
    It is a GUARANTEE for loans. LOANS that the people of the VI will have to pay back. The NDP mismanaged the debt situation to the point that even if we reach an agreement with the UK, we will not be able to borrow any money without going over the set limits. If we go over, the UK is waiting to come and take over.
    Plus, the UK wants ALL capital projects managed by its RDA. If the UK is managing our whole development budget, what then is the purpose of saying we have devolved governance?
    Some of you still in mental slavery.
    Thank God Fahie have more sense than you all and he willing to stand up and fight for our children to hold on to their patrimony.


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