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Branson meets with IMF for BVI

Richard Branson. Photo Credit:

Billionaire Sir Richard Branson who owns two of the outer islands in the territory said he has held talks with the International Monetary Fund (IMF) on behalf of the British Virgin Islands.

Branson made the disclosure in a letter to the BVI Chamber of Commerce and Hotel Association (BVICCHA), which he called on for ideas to help fast-track hurricane recovery efforts in the territory.

The billionaire said he has received the go-ahead from local government to then put these ideas into effect.

“I committed to Governor Jaspert and Premier Smith that I would consult business owners in all relevant sectors to gather your feedback, ideas, and requests and compile these in a report for their consideration.”

“I am also working to set up a small team in the BVI to support this project to help implement some of these ideas,” said Branson in a letter dated yesterday.

In the said letter for which was BVI News received a copy, Branson also stated that he has had talks with other stakeholders besides the IMF.

He said: “Over the last month I have met with Governor Jaspert, Premier Smith, Dr Pickering, Caribbean Heads of State, representatives from Inter-American Development Bank, the World Bank and International Monetary Fund. During these meetings I have heard some fantastic ideas,” Branson said.

Branson did not give further detail on the meeting with the formidable moneylenders, IMF.

Meanwhile, news of Branson’s talks with the IMF in relation to hurricane recovery comes weeks after Premier Dr D Orlando Smith said he has not ruled out the possibility of striking a deal with the IMF to help fund rebuilding.

The Premier’s statement sparked public discussion on whether the BVI should do business with the international money lender.

The IMF is known for its strict loan conditions and, among other things, dictating how borrowing countries govern their respective nations while the loan is being repaid.

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53 Comments

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  1. Ya me born says:

    Poorly-rated. Like or Dislike: Thumb up 5 Thumb down 12

    Hidden due to low comment rating. Click here to see.

    • Man of Action: says:

      Like or Dislike: Thumb up 0 Thumb down 1

      We in the Caribbean Market need to learn from Mr Richard branson which takes charge of things
      We can learn from him as how to deal with matter as quick as possible , Thank you richard branson for taking the initiative. Regards
      Gregory F.De Graf

      • SMH says:

        Like or Dislike: Thumb up 1 Thumb down 0

        I’m sorry sir but do you know what the IMF have done to the Caribbean?
        I hope it is his money he is taking the initiative to talking to them about and not ours.

  2. Wait a minute says:

    Well-loved. Like or Dislike: Thumb up 55 Thumb down 9

    Thnx 4the concern and all but who send u to IMF parna?

    • Pinkerton says:

      Like or Dislike: Thumb up 3 Thumb down 0

      Lol did you not read the article?

    • BVI lawyer says:

      Well-loved. Like or Dislike: Thumb up 13 Thumb down 4

      I just don’t get the hostility. After Irma we need every man jack of us to help get the island back to normal. Here is a man who clearly loves the BVI and is a master negotiator. If anyone else wants to get on a plane and start having some conversations about relief funds from international bodies then as far as I am concerned they are welcome to do so. But Sir Richard can open doors where the rest of us have them slammed in our face. I just can’t stand the small minded people who criticise others for trying to do the right thing while they sit at home and complain that the roads are not getting fixed or we aren’t getting current back fast enough.

  3. SMH says:

    Poorly-rated. Like or Dislike: Thumb up 9 Thumb down 19

    Hidden due to low comment rating. Click here to see.

  4. Sam the man says:

    Well-loved. Like or Dislike: Thumb up 63 Thumb down 11

    since when did Sir Richard receive a ministerial position on the BVI Government?

    • Bro Nancy says:

      Well-loved. Like or Dislike: Thumb up 34 Thumb down 5

      Who running this country meh son?

      • Bossman says:

        Well-loved. Like or Dislike: Thumb up 32 Thumb down 1

        Your right, something not right about that… run for the hills if you see the WB or IMF coming over the horizon!

        So you borrow from the IMF, whats the plan for the next time you get slapped by a Cat 5, borrow more?

    • Huh says:

      Well-loved. Like or Dislike: Thumb up 4 Thumb down 0

      Exactly, I was list for words

  5. lawdy says:

    Hot debate. What do you think? Thumb up 7 Thumb down 7

    Who doesn’t hear does feel. I don’t want to feel it so I pray the lord get my life back on track so I can dodge.

  6. lol says:

    Well-loved. Like or Dislike: Thumb up 26 Thumb down 18

    while the people of tortola busy accepting handouts, i dont see anybody teaching them how to do for self and defend your home. a bunch of slave minded negroes is what you get from a people who willin to take handouts and think it dont come with a price. not all of the locals are stupid but enough of them are.

  7. Laura says:

    Well-loved. Like or Dislike: Thumb up 45 Thumb down 5

    IMF= control, auditing, financial reports, good governance, integrity, code of conduct and sanctions

    BVI= None of the above

    A loan between the two= BAD IDEA

    Conditions that will reduce output and employment in a situation where any economy is already shrinking is a “think twice notion”.Don’t do it guys.

  8. Anonymous says:

    Well-loved. Like or Dislike: Thumb up 24 Thumb down 3

    LORD HAVE MERCY. IMF IN A COUNTRY VERY BAD IDEA. HAVE YOU ALL DVER HEARD OF JAMAICA AND OTHER PLACES WHER THEY HAVE BEEN??? BAD BAD VERY BAD IDEA

  9. R. Jones says:

    Well-loved. Like or Dislike: Thumb up 28 Thumb down 0

    I certainly like the governance and especially the accountability!

  10. Angus Rogerme-McWhite says:

    Well-loved. Like or Dislike: Thumb up 10 Thumb down 2

    I say @Laura, why would all these be anathema to our little country: control, auditing, financial reports, good governance, integrity, code of conduct and sanctions

    I say it’s about time we got some of the above.

    • Laura says:

      Like or Dislike: Thumb up 3 Thumb down 0

      @Mcwhite there is no dislike to the attributes. Quite the contrary my fear is the disgrace of falling short to them is what will leave us in the ditch of repugnancy to the wider world in which no one will want to do business. The track record of inaccuracy of this government is not much to be desired locally so how can it be recognised internationally.

  11. BVI TO THE BONE says:

    Well-loved. Like or Dislike: Thumb up 42 Thumb down 4

    Thanks but no thanks Sir Brandson. You are Billionaire. Why don’t you donate a few million the BVI since you love us so much.

    NO IMF PLEASE!!!. LOOK AT THE OTHER BIG CARIBBEAN COUNTRIES WHO HAD LOAN WITH THE IMF. LOOK ARE LEARN!!! PLEASE STAY AWAY FROM THE IMF. WE DON’T NEED THAT NOOSE AROUND OUR NECKS.

    Premier, We need help, but be careful. Not all that glitters is gold.

    people let us continue to pray that our leaders will make wise decisions.

  12. Phil Latiio says:

    Hot debate. What do you think? Thumb up 7 Thumb down 7

    So the white man has to do the talking for the shoeless, bone in the nose island tribe leaders ?? Who the f is he to stick his nose in there ?? His islands are a part of the BVI until he private property real fast.

    • Driver Delight says:

      Like or Dislike: Thumb up 0 Thumb down 0

      With these potholes here today, any driver can perish the thought of a smooth ride…..let’s get the ball rolling….funs for the roads anyone?

  13. Godfather 3 I'm Joey ZaZa says:

    Well-loved. Like or Dislike: Thumb up 7 Thumb down 3

    Oh boy the beginning of the end. Independence? LOLOLOLOLOLOLOL.

  14. YOU HAVE BEEN WARNED !!! says:

    Well-loved. Like or Dislike: Thumb up 9 Thumb down 2

    The people did not vote nor agree to this !!!
    This is a land grab PERIOD !!!

    https://www.theguardian.com/business/2001/apr/29/business.mbas

  15. WHAT THE HELLLL???!!!! says:

    Well-loved. Like or Dislike: Thumb up 14 Thumb down 3

    Since when was this man appointed an ‘official’ ambassador for the BVI? This is nonsense…if Branson wants to help the people of the BVI then he have enough money to lend us a $100M to rebuild…we don’t need him to go to the international shark for anything….NDP …read my lips…YOU GOTS TO GO NEXT ELECTION…the Government letting in the rich white billionaires and millionaires and giving them free roam in this country under the guise of “humanitarianism”…these people will frig up this country…you watch

  16. Enslavement- NO TO THE IMF says:

    Well-loved. Like or Dislike: Thumb up 25 Thumb down 3

    Send help in this place. Richard Branson going to IMF for BVI? Dr. Smith OPEN YOUR EYES WIDE and SEE WHAT YOU DOING WITH YOUR LEADERSHIP…LIKE YOU WANT TO SEND US BACK TO SLAVERY. IMF LOAN = BVI ENSLAVEMENT. WE DON’T NEED THAT. If we have to eat dry bread and black tea let’s do that…but SAY NO TO THE IMF

  17. Woe says:

    Well-loved. Like or Dislike: Thumb up 10 Thumb down 1

    HE is the government

  18. mmario says:

    Well-loved. Like or Dislike: Thumb up 13 Thumb down 2

    I can only say. Signing up with the IMF and Satan is the same thing. So good luck Charlie.

  19. mmario says:

    Well-loved. Like or Dislike: Thumb up 10 Thumb down 3

    signing with the IMF is like purchasing Crack for the first time its addictive.

  20. Fisherman in Anegada says:

    Well-loved. Like or Dislike: Thumb up 13 Thumb down 3

    The NDP has just sold the BVI to the IMF and Branson. Time to march

  21. Concessionary Funding says:

    Well-loved. Like or Dislike: Thumb up 17 Thumb down 13

    If the terms are favourable, then by all means go for it.

    Clearly, Britain will assume only a supportive role but not a leading role….hence this approach.

    He is also interested in a commercial opportunity in alternative solar energy, using micro grids as he and Tesla are proposing for Puerto Rico.

    His company also will be pressing into service small to medium size cruise ships currently being built.

    If we realign our runway to take direct flights from Europe and elsewhere, we could consider becoming a Home Port for some of these vessels.

    The Key is to think BIG and act BOLDLY. We may never have an opportunity to transform our economy
    with concessionary funding again in the foreseeable future.

    Make the best of it now while there is a window of opportunity.

    We are not in the predicament of most countries when they go to the IMF with structural deficits.
    We just need to insulate ourselves better from the ravages of natural disasters, and broaden our economic base.

  22. Thursay says:

    Well-loved. Like or Dislike: Thumb up 5 Thumb down 1

    ndp aint care wa happen to us after he takes money from the imf because it wont be dem problem after the next election#demaintgettinbackin #only2peoplefromthendpgettingbackinmitch&;marlon

  23. Godfather 3 I'm Joey ZaZa says:

    Like or Dislike: Thumb up 1 Thumb down 0

    In fact check out the movie The International.

    Trust that is EXACTLY how the IMF operates.

  24. Don’t do it says:

    Like or Dislike: Thumb up 5 Thumb down 2

    As a BVIsland I think Government should think carefully before borrowing from the IMF. I have a bad bad feeling about this. Bad idea

  25. TurtleDove says:

    Like or Dislike: Thumb up 0 Thumb down 0

    Branson did not give further detail on the meeting with the formidable moneylenders, IMF.

    TELL HIM THE ONLY INTEREST WE HAVE IS FOR A GRANT FROOM IMF!!!

  26. Nonsense says:

    Well-loved. Like or Dislike: Thumb up 5 Thumb down 1

    Anyone who knows Caribbean history knows that getting a loan from the IMF is no favor. The people have been put in a bad situation where it seems that bad spending has occurred but know investigation , the Audit results made public.

    And reason for the Ex Governor decision not to do any inquiry was not giving to the people.
    And now we have waken up one morning and heard that people are begging for loans for us.

  27. Island Man says:

    Well-loved. Like or Dislike: Thumb up 12 Thumb down 0

    I thank the representative of the Ninth District Mr. Richard Branson for taking the responsibility on behalf of the BVI Government.
    Even before it was discuss in the house of assembly.
    Well I now know who makes the decision and call the shots of the Government.

  28. Road Map says:

    Like or Dislike: Thumb up 0 Thumb down 0

    Some people have a face only a mother could love.

  29. friend says:

    Poorly-rated. Like or Dislike: Thumb up 4 Thumb down 7

    Hidden due to low comment rating. Click here to see.

  30. Political Observer (PO) says:

    Well-loved. Like or Dislike: Thumb up 9 Thumb down 3

    Is Sir Richard Branson an elected member of the HOA? Should not the Premier and Minister of Finance be negotiating financial loans with the IMF on behalf of the BVI? Is Sir Richard a better financial negotiator than Doc or he is a more acceptable messenger? Is this a case of colonialism, neocolonialism, or imperialism? Should not BVI residents expect the Minister of Finance and staff be capable of negotiating financial deals on their behalf?

    Then again perhaps Sir Richard may be a de facto staff member. For too long, persons of African descendants were not seen as capable of performing curtain tasks as well as others. Though it is a false notion, this action may reinforce the belief.

  31. local says:

    Well-loved. Like or Dislike: Thumb up 5 Thumb down 0

    Who is in charge. Richard or de Doc .The school childrean say ask miss P

  32. uhh says:

    Like or Dislike: Thumb up 1 Thumb down 1

    Who tell he we need his help? Dude…..Take a seat!

  33. Brok says:

    Like or Dislike: Thumb up 3 Thumb down 0

    The NDP is not accountable now, will they ever be? This goes to show there is no leadership in this place. All they doing is grabbing. Time for change.

  34. The Void says:

    Well-loved. Like or Dislike: Thumb up 8 Thumb down 0

    Our gone-to-ground government doesn’t even have the wherewithall or $$$ to hire a backhoe for each district to keep the roads vaguely passable has created a void.

    Branson has stepped in to save us, the messianic little dutch boy with his finger in the dike. His heart is in the right place….but the IMF? Really??? If he can negotiate a deal on our behalf that doesn’t turn us into a feudal satellite of the corporate world regime, I will sacrifice a cow to him. But even the great Sir Richard can’t ensure the IMF won’t bend us over after the signatures dry.

    The truth is, we are a UK Territory- the UK is our ultimate governing body and appears to be utterly disinterested in our future. WE are the people that elected a whack-a-mole government that pops it’s head up out of the ground once a week to chitter nonsense and appears to have robbed the country blind. WE are the people who were aware of the growing corruption over the past few decades and kept voting them (the NDP, the 2000’s VIP and the UP) in rather getting involved or running our own sanctimonious selves for position.

    Look around – who is doing the work, the clean up, helping to feed, clothe, shelter? WE ARE- the communities- the people on the ground: the citizens, belongers and non belongers alike. Branson is just another member of our community doing what he can. He just has more visibility and power at higher levels. Look around too and see the growing wickedness; the looting was just a start- everyday we see increasing violence, price gouging and more carpetbaggers.

    The question is, what do we want for the future of our country? Are we prepared to take to the streets, the churches and our neighbour’s living rooms to ensure a better future or are we just going to sit back making pithy comments and blaming the white devil when we become a global slave state and our children’s children have no future that doesn’t involve cleaning the toilets of the rich and famous?

    Because that IS what will happen if the IMF comes in here. We have no resources to strip mine, no indigenous sub culture to enslave. We have great natural beauty; it’s human nature to want to posses beauty. The IMF will crush us into submission with privatization and high interest rates and then we really will be ruled by the white devil- but if that happens, we will have only ourselves to blame.

    There are still people with no shelter or reliable access to water 9 weeks after Irma.
    We clearly cannot trust our absent government.

    The question is- what can WE do? I don’t know, but we can try this- go to your local bar tonight- the one with the salvaged roof and 2.5Kw generator, buy your neighbour a Schaffer or a Ting and start talking. Not griping, not worrying, not blaming- just talking about the future. It’s a start.

  35. Anonymous says:

    Like or Dislike: Thumb up 0 Thumb down 0

    “Jesus take the wheel “ cos Dec is quickly approaching and blessings are needed to know where going . Heavy equipment co relocating to work and actually making a real manufactured product of 6000psi concrete wall 4Walls&Roof . I’ll fit right in where the boots hit the ground cos I’ve never gotten breaks of out -of-this-world financing . Financing is good yes . As long as making $ with other people’s $ is a REALITY . Being true to freedom God secured for all mankind thru Jesus is difficult . Hold fast , keep up the good work , bless your future . Words used the right way builds a profession of a lowly job . Our words come find us . God bless VI .

  36. SOS says:

    Like or Dislike: Thumb up 1 Thumb down 0

    We need the Queen to step in since our government does not know what to do.

  37. SIR whatever says:

    Like or Dislike: Thumb up 0 Thumb down 0

    GO CHILL ON YOUR PRIVATE ISLAND ,, you dont fool me a bit !

  38. Paradise Papers says:

    Like or Dislike: Thumb up 0 Thumb down 0

    @ SOS…..She left the BIG ApPle-be by the way and is off to the Cayman Is.
    Don’t hold your breath buddy.

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