Sold out? Rules for hurricane loans demonstrate mistrust of NDP
After the September 2017 hurricanes, Premier Smith went on a whirlwind tour seeking loans and grants to rebuild the Territory, which he said will cost over $3.6B.
While there were commitments and pledges so far, he was only able to secure one loan from the regional agency Caribbean Development Bank (CDB).
NDP divided & embattled
The $65M loan which was passed in the HoA on December 20, 2017 despite some five votes against, with an NDP Member Hon Delores Christopher (R5) joining Opposition Members Hon Andrew A. Fahie (R1) and Hon Julian Fraser (R3) to vote against the loan.
In addition, NDP Members Junior Minister for Trade and Investment Promotion Hon Marlon A. Penn (R8) and Backbencher Hon Alvera Maduro-Caines (R6) abstained, which is a no vote.
It is clear to many that the NDP has lost the moral authority to govern and are embattled with daily infighting, with no regard or respect for the leader Premier Smith.
Documents obtained by our newsroom show that the United Kingdom Government does not trust the NDP with the loan funds which they committed to back with guarantees. In fact, in many conversations both by the local Government and others in the Foreign and Commonwealth Office, they are very skeptical about leaving any of this money in the hands of this government because of the history of financial mismanagement, reckless spending and alleged corruption.
It was the former Governor John S. Duncan OBE who said publicly that the NDP has mismanaged the public's resources, has no spending priority and has engaged in reckless spending. In fact, in a letter obtained by the media, he cited an example of reckless spending.
New rules; We will control the $$$$- UK
In order for the Territory to get any money they had to agree to a new set of rules. They had to agree to good governance and transparency in all ministries, according to the document obtained by our newsroom. The UK wants an Investment Development Agency Board to manage the money, taking it out of the hands of the politicians.
The UK is to have an additional representative on the investment board, and the VI cannot get any loans going forward unless they adhear to these polices where the UK will manage the hurricane funds.
The Board via the UK appointed Governor is to have monthly updates on how the money is to be spent, fiscal forecast and must implement public sector reform, which many have argued means public sector layoffs.
Who to blame for financial mismanagement?
The measures, already signed off by the Smith Administration, has tied incoming governments' hands for years, according to a senior NDP Cabinet Member, and many believe that Hon Smith has sold the country out, taking us back to grant-in-aid.
Two HoA Members, Hons Ronnie W. Skelton, (AL) the Minister for Health and Social Development and Julian Fraser RA, a former government minister, spoke out against the terms of the loan.
The Opposition Leader Fahie reminded the HoA that “the NDP has themselves to blame, as if they do not police themselves, someone will do it for you in a way you do not like.”
.png)
_Card_system_comimg_soon_flyer-06_(4).jpg)
Follow Us On
34 Responses to “Sold out? Rules for hurricane loans demonstrate mistrust of NDP”
Finances should be overseen by a different minister, NOT the premier who has too much to do.
Thanks to smith , Tola gone down the drain .. I have no respect for him anymore ... "ruling National Democratic Party (NDP) regime"
Moreover, Hurricanes Irma and Maria, Cat 5 hurricanes, mashed up the BVI. The recovery cost is approx $3.6B that for the most part has to be borrowed. This is a lot of needed cash but not too many donors are coming forward with some any serious contributions. The UK has committed to £10M in grants and £300M in loan guarantees. MSome other bloggers have advocated for a Marshall Plan, a plan similar to the one that bailed out Western Europe after WWII. Nonetheless, there is no signs of life for a Marshall Plan. Further, the huge financial needs, along with a dearth of investors, left the VI with little choice but to agree to the terms and conditions that the UK is requiring.
do you really think that these islands would prosper is an independent nation ?
UK (as any lender) has a right to require specific terms on a loan, especially if there has been a proven record of mismanagement of monies in the past. It is not unreasonable.
If Dr. Smith had not agreed, we would have nothing available to rebuild with......what would we all be saying then....."Dr. Smith did nothing to get us back on track". It is a really difficult position to be in.
I agree with UK, fiscal control MUST be taken out of the hands of the government.
The VI is reeling from the devastation and has to look externally for assistance. This assistance include external forces maintaining law and order, external linesmen reconstructing the power grid, external borrowing of $M..........etc. Further, in borrowing, the good faith and credit of the BVI is not enough to secure loans. The UK’s guaranteeing of loans is vital to borrowing. The BVI is in bad shape but would be in worst shape it had to go it alone. Being under the UK’s umbrella has some benefits outside of direct financial support, ie, defence, external affairs, security and confidence for economic development and investment. With the VI small size, lack of strategic resources, small population .......etc, what does it have to go independence with? Is the BVI ready for independence? Does the VI want a referendum to expedite the call for independence?
Let’s lead like eagles, not careen off the cliff like buffaloes.
I will say that both VIP and NDP over the years mismanaged not only the funds but have allowed department heads to also mismanage both human resources and financial resources.
Hon. Penn and Hon. Caines you are lukewarm. Stand up and take a stand and send a clear message when it counts. You were not put in the HOA to build sidewalks, give out bush work, give out monthly cheques to seniors and to look good for upcoming elections. You were placed there to also fight for our future.
Hon. Deloris Christopher might not have fought hard enough for her district and she should not have had to fight because she pulls the NDP out a lot of stupidness behind the scenes; but she can be depended on to place her yes or no vote where and when it matters.
Hon. Ronnie Skelton is far from the best but he educates the people on the bigger picture. He lets us know that there are other players with a whip ready to take back power who is trying and succeeding because we cannot say NO we are not going BACK.
All elected were place there so we can move towards self determination through constitutional advancement but you all lost focus. You only talk and seeking power but most don't have the testicular fortitude to lead individually nor collectively.
Hon. Christopher don't ask for much and she might die politically because Hon. Vanterpool don't complete what he starts and don't have a plan in place to ensure his TEAM MEMBERS are reelected.
Hon. Penn and Hon. Caines...find some guts like Hon. Christopher and Skelton. Find your voice and speak clear so the people can know where you stand when it comes to voting for or against things in the House of Assembly.
Hon. Penn you want to take the high road and say that politicians fighting among self and within party and should get back to helping people and people hurting.....Boss the future of our territory is also the people's business. We the people though we are still hurting from our losses will recover in due time. When the time comes for you to roll up your sleeves and get dirty by letting your voice be heard on the international issues that seek to take us backwards we need you to vote and be a voice.
We all know that the Premier is being guided wrong. We all know that his advisors are incompetent. We all know that the Premier is also guided by satin sheets but if the HOA take a collective stand we will not sell ourselves out. It is not the Premier who is selling out the territory....it is all of you who sit down and watch the territory go into economic slavery.
The bible says that you are a slave to who you owe. Be careful about the decisions you make.
We all know that Hon. Pickering waits in the shadows for an opportunity to shine. He delays his views and talk after people talk. The Strategy Man I call him.
Hon. Walwyn likes to speak loud and show up. Help everybody and get his good name out there to ensure that his name is echoed in the minds of the people that it is he who helped and not the others. Good press or bad press Hon. Walwyn name is loud. Opportunity!
Both Hon. Pickering and Hon. Walwyn are smart but not smart enough. I can see your tricks. You all have the gift of gab but full of tricks and I cannot trust your hidden agendas.
All of you! Opposition included! Need to stop play politics and do what needs to be done to ensure that this territory do not go back into slavery as well as start to stand up and make changes within the Public Service to ensure that we position our Territory for Success, Constitutional Advancement and Self Determination.
I have no idea why Hon Penn and Caine want to sit on the fence. Apparently they do not know the power the back bench yields. Stop pussyfooting and stand up for the people! Abstaining is as good as a ‘No’ vote. The UK requirements will make your head spin when you read them. They know we are in desperate situation and have tightened the grip. We need leaders who aren’t afraid to speak up and fight for our country/people.
I am grateful for Hon. Skelton telling the truth about our situation. I now understand why the recovery is taking so long. I know that these are tough times but we are reaping the harvest of our fiscal iresponsibility. We lack inspirational and motivational leadership. We need vision and innovation in leadership. The government needs to listen to the people. The people are the resilience of the BVI. We will be in a worst state if businesses don't quickly get back on their feet, homes are not repaired, and schools are not rebuilt. Mistakes have been made YES! But it's time to truly unite and focus on rebuilding. Let the best financial minds come together and come up with a strategy to put us back on our feet, consult the people and listen. Communicate and tell the truth!!! We the people of the BVI deserve better.