Unelected Governor fires back @ Premier Fahie
Further, Hon Fahie has said there was an air of suspicion regarding the UK handling of issues around financial mismanagement and that for the territory to receive the loan guarantee, the UK would need some control of the VI finances in the hands of the Recovery and Development Agency.
Now, His Excellency Augustus J. U. Jaspert, the 13th unelected Governor of the Virgin Islands, in an August 19, 2019, media release has indirectly fired back at the Premier following his statements in relation to the 300M Pounds UK Loan Guarantee.
“I want to address a number of factual points on the loan guarantee offered by the United Kingdom Government,” marked the opening of the UK appointed Governor’s 1200 word rebuttal.
Loan Guarantee Conditions Necessary – Gov Jaspert
In addressing conditions surrounding the loan guarantee, the Governor lashed back by saying the UK Government only set conditions around the support to ensure that all recovery measures are accountable and represent value for money and that the additional borrowing is sustainable.
“The conditions are linked to international financial best practice. By adhering to them, the Government will simply be ensuring financing to the RDA is well managed,” he said.
However, according to the Governor, while the loan guarantee does have requirements, “[it] does not take control of public finances away from the Government, nor change arrangements as set out in the Constitution,” like the Premier has warned.
“The UK Government has no intention that control of the management of public finances be transferred to the RDA,” he said.
The Governor further assured that the UK Government’s loan guarantee offer is a wider part of a package intended to help the VI recover in the ‘most cost-effective’ and ‘sustainable way possible, to benefit all.
Role of RDA in VI
Governor Jaspert continued by reminding that that RDA is a VI Government agency, established by legislation passed by the House of Assembly for a precise purpose, set out in the Recovery and Development Agency Act, 2018.
However, since its inception, many have seen the RDA as an alternative government set up by the UK due to mistrust in the then NDP Government to overlook the territory’s recovery and by extension its governance.
The Governor said the RDA operates with Ministries, to regulations agreed by the Virgin Islands’ Cabinet, such as those designed to protect and build the capability of local contractors and suppliers.
“I assented to the Virgin Islands Recovery and Development Agency Act on 12 April 2018, as the Virgin Islands Government’s legal view was clear that it does not conflict in any way with the Constitution.”
He said when guaranteed, the loans would not come from the UK Government directly, rather from institutions like private banks, where “banks will offer BVI lower interest rates, saving BVI vital money.”
See link to full Statement from the Governor on the UK Loan Guarantee HERE
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18 Responses to “Unelected Governor fires back @ Premier Fahie”
Donald Trump’s twin. Feed the people with lies and the majority will believe
Am I missing something ??
Set of fools always misleading people
That, does it?!
The original slaves were white.
So can white people also not be racist?
Also, black skates were sold to whites by
The slaves’ black captors.
Were they not racist?