Airport expansion not considered by UK in debt levels
Premier Dr Natalio Wheatley has disclosed that the United Kingdom will not consider loan funding acquired for the BVI’s planned airport expansion project as part of the territory’s debt limits.
He said this was expressed in discussions had with British officials during his visit to London recently.
“One of the most promising discussions that we had with the UK as it pertains to loans was the acknowledgement that the pending expansion of the airport runway would not be considered as a part of our debt limitations,” Premier Wheatley said at a recent press conference.
He said the most recent airport expansion proposal estimates were more than $200 million, which would likely put the BVI way above its agreed borrowing limits.
“That would have completely taken away any fiscal space that we had to borrow, so that was very significant,” the Premier said, adding that the UK continues to be supportive .
Premier Wheatley promised to put forward his government’s medium-term fiscal plan once lawmakers return to the House of Assembly next week. He suggested that this will outline the government’s debt strategy over the next few years.
Premier Wheatley said the plan will then be sent to the UK for approval and the territory will then know how it can move forward with its intention to seek loan funding.
According to the Premier, the UK is also in agreement with the territory’s intention to seek a favourable loan from the UK.
“We have to continue discussions in terms of what they can do to make sure that we can borrow on as favourable terms as possible,” the Premier expressed.
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Koy the other day about starting air port
The twice daily service to Miami is working well.
Do we really want to spend all this money and turn ourselves i to a mass tourism destination?
Quality not quantity.
Oh how we miss the progressive and productive days and times of the N.D.P.
It has been nothing but stagnation, excessive spending but no evident progress on none of the economic pillars and fronts of this country.
We will going into a new election down the future, and all would be accomplished are a few becoming excessively richer, a few would ave successfuly engineered a portion of into their accounts, and the country’s jobs infrastructure will still be in rampant economic stagnation.
Oh dear. Free access to 200 million to shareout amongst themselves friends and cronies and we won’t get an airport. Think, greenhouses, airplanes, bridges, solar farms on Anegada, bridges, barges, incinerators, tarmac plants, water, mangrove destruction, landfill, landfill, landfill. Party time!!!!!!! For some.
Unless there is very realistic way of paying for itself putting $200 million debt on this country is highly irresponsible.
If the government are thinking about spending 200M in asphalt the should start with the road. No airport expansion until we have roads we can drive on. Not patched, Fixed. AA is working well from Miami