Cline concerned about financial stability; backs gov’t

While underscoring the need to closely monitor the financial stability of the territory especially in light of international pressures facing the financial services industry, businessman Bishop John Cline has brushed aside criticism of the National Democratic Party (NDP) government’s performance.

The Dr D Orlando Smith-led administration has been facing increased claims that it has been performing poorly.

“I think they are doing the best they can, given the global situation,” said Bishop Cline, who is also a Chairman of the state-owned BVI Health Services Authority.

He further told BVI News Online: “I think every government will face some type of criticism. We elect people to govern and I think that we trust them to govern. If the time comes when they are not satisfied with what you are doing, then we have a choice at the polls.”

Bishop Cline, in the meantime, made it clear that he is wary of developments in the financial services industry, which accounts for some 65 percent of the territory’s annual revenue.

“As far the country is concerned, I think there is no doubt that we need to watch the financial stability of our country with financial services being put under a lot of pressure. I think that is a major concern of the government.”

“I think in every crisis there are opportunities, and I believe there are opportunities for the BVI to look for…to create revenue streams and ensure that whatever happens we can have a country that is stable and well-funded,” added Bishop Cline.