BVI News

False! Govt’s economic stimulus plan not hindered by Effective Financial Management agreement

Governor Augustus Jaspert

By Kamal Haynes, BVI News Staff

Governor Augustus Jaspert has refuted all claims that suggest the delay of government’s economic stimulus plan is because of the Protocols for Effective Financial Management agreement that was signed between the UK and the BVI.

Governor Jaspert told members of the media on Thursday that the stimulus, which has been promised by Premier Andrew Fahie for months, is not being hindered by any of the conditions relating to the 2012 agreement, as suggested by the Premier.

“It has been suggested publicly that these act as a barrier to the government’s ability to deliver an economic response to COVID-19,” Governor Jaspert said.

“I have not seen any evidence to indicate that they hamper the government’s ability to bring forward an economic package for the people. From what I understand, BVI’s reserves are in a very healthy position – over $80 million according to the budget estimates announced late last year,” Governor Jaspert added.

Purpose of Protocols

The governor also explained the purpose of having these protocols, stating that they are to ensure the sensible management of public finance and accountability to the public.

“By having them in place, BVI is sending a clear message to potential lenders and international partners, but most importantly to the people who live here, that we are committed to sensible borrowing and spending of public funds,” he stated.

He continued: “In practice, they are about making sure governments don’t spend and borrow more than they can afford to.”

Protocols enable flexibility

Governor Jaspert further said that there are aspects within the protocols which allows flexibility for government to seek funding in special situations.

“The UK and BVI Governments have agreed temporary breaches in the past when the BVI Government needed to borrow large amounts in exceptional circumstances. The UK is committed to supporting each territory through this crisis and is working hard to understand and meet any needs on a case by case basis,” he stated.

The governor said he is hoping the Andrew Fahie administration will soon enter into discussions with the United Kingdom, with regards to their economic plans for the territory and any concerns as it relates to the protocols.

The government is expected to reveal the details of their economic stimulus plan on Thursday, May 28.

Copyright 2020 BVI News, Media Expressions Limited. All Rights Reserved. This material may not be published, broadcast, rewritten or distributed.

26 Comments

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  1. Serious says:

    “The governor said he is hoping the Andrew Fahie administration will soon enter into discussions with the United Kingdom, with regards to their economic plans for the territory and any concerns as it relates to the protocols.”

    This part of the article is of grave concern to me! Is the Governor saying that despite being asked almost 2 months ago to provide an economic plan for BVI, the Government hasn’t provided this to the UK to enable us to move forward? Let us stop with the games now, if we don’t want UK oversight then lets go independent, otherwise just get on with moving the Territory and stop these games.

    Like 42
    Dislike 3
    • sign says:

      You never know who is telling the truth sometimes in this place. I tend to believe that the governor is saying though from past experience.

      Like 21
      Dislike 1
    • LOOKTHING says:

      wow. The Governor just shut down everything Andrew Fahie ball about in the live! GET IT MOVING VIP

      Like 5
      Dislike 1
  2. vip heckler says:

    The VIP administration has a problem with the truth

    Like 41
    Dislike 4
    • Actually says:

      Actually both parties have a problem with the truth which is why we need the UK to keep an eye on them.

      Like 3
      Dislike 3
    • In one word, Transparency! says:

      Hon. Fahie ran on a platform of: “Accountability, and Transparency”. He has also Labeled himself as an “Unconventional leader”. Yet the leader of the Opposition can’t seem to get any clear response from him regarding Consultant, CS-C exact assignment, responsibilities and speciality. The premier when asked by the media about his knowledge and understanding of tourism director Sharon Flax-Brutus dismissal, his response was that: “He doesn’t get involved with operation of the board”. That response was outright Ridiculous and Dismissive. The fact is that tourism is headed by the premier, his permanent secretary, Chairman of the board; then the Director. The premier needs to be called out and come clean. on the matter. Show some Accountability and Transparency Hon premier. After all, tourism is a twin pillars of the economy. Under RT O’Neal’s leadership he often chaired board meetings and permanent secretary, Mrs. Adams frequently attended meetings and shared in the discussions on such topics as bathrooms at the beaches and road signage. Tourism is that important. But then again Hon Dahie is an unconventional leader. Premier Fahie is also minister of Finance. How can he not know about the Social Security board’s economic strength and fitness, when the governor continues to describe, more than once, the board’s finance as Robust ? Sorry Hon. Fahie, my vote is also gone.

    • WENDELL MIGUEL says:

      He’s on line is nobody telling the truth the cuties I haven’t even received my stimulus check 1202 government promise to every American. As American you lie so many times trying to buy hour our mind in our life our lives but being honest we wouldn’t know 1200 man is the weight of a f***ing government poor judgement undercover 19 the covid-19 was a radian African-American 2 years ago how can a few months you have the entire world infested the government gave the covid-19 too many of us as a second flu shot it was told that there was a stronger flu coming out that you needed the second flu shot but that wasn’t a flu shot it was covid-19 the coronavirus now what now America we all going to die the best you can you choose your destiny where you going to live you can’t even tell when you can leave in heaven

  3. Anonymous says:

    To fully understand this situation you have to be knowledgeable of the effective financial management protocols.

    Like 20
    Dislike 4
  4. NO IRMA RECOVERY says:

    Under VIP, they are playing games for 2 years now..

    Like 21
    Dislike 7
  5. 2020 says:

    Yes Gov., spill it all …

    Will the BVI Government please come with ALL of the information? What are the details of the EM protocols? Should not the populace have access to such? After all, not only the members of the BVI Government went to school. We all went to school. These are not the days when we could not read or write. Eh Fahie? How many BVI educated lawyers, doctors, engineers, financial officers exist? Even the some of the lay man on the street could understand – why I say this? Because some have been educated by experience – experience in having to go before courts with lawyers and observe how they operate.

    It shouldn’t have no moo moo BVISLANDER in these times.

    Like 19
  6. Facts says:

    Ok so if that’s the where is the stimulus package and information as to how is will be giving. Things ruff and the longer we wait the duffer it will get. All the years of collecting ppl taxes and you can be quick to pay them. I want my dam package I not interested in no long talk.

  7. Captain Flint says:

    Have the audited accounts been produced yet for each of the Government departments?

  8. Low esteem says:

    Notice the [other site] did not carry this. Thanks BVINews for fair and impartial reporting. Andrew’s l**s will come back to haunt him and hurt us. Let us open our eyes.

    Like 6
    Dislike 1
  9. Wondering says:

    How many people have lost their jobs because of COVID19?
    How many taxi drivers lost their ability to earn income?
    How many people have had reduced working hours?
    How many government workers have been laid off?
    How many LandLords are not being paid?
    How many home owners are in arrears at their banks?
    How many car owners are in arrears at their banks?
    How many business owners are in arrears at their banks?
    How many people have not paid their phone and cable bills?
    How many people have not paid their credit card bills?
    What is the projected economic loss to the BVI?

    Have I missed these statistics?
    Have they been compiled and published somewhere?

    If these statistics have not been compiled why not?

  10. Bob says:

    Since we all pay into social security every paycheck to aid us economically in our old age, why could we not have access to some of OUR money now in this great time of need. To pay our bills and prepare for hurricane season? It is our money and we should have a say in when we need it most.

    • RealPol says:

      @Bob, yes, your employer deducted from your and paid ( we hope, frauds need to be prosecuted) it along with employer contribution into social security. Nonetheless, I’m going to take a wild a..s guess (WAG) and state it is now social security money. Social security is a social insurance, not an unemployment insurance, programme was that authorized by the HOA to pay a)old age pension and grant , b)disability pension and grant, c)survivor pension and grant, d)funeral grant, and e) sick and maternity grant.

      You cannot withdraw your contributions from social security; if that was allowed, it could could harm the stability and solvency of the system.

      You cannot use your contributions as collateral. WAG taken, some one can correct me if I’m off the mark.

  11. Pray says:

    We need to pray more now than ever before.

  12. What a ting ! says:

    The U.K. representative giving one narrative to the nation and the leader for the country giving an opposite narrative In a time of distress : business closing , some barely staying afloat, ( some standing strong) people out of jobs, some asking bank for extensions ( loan still needs to be paid ) some cannot afford internet other tools to educate His / her child – Where is this uncertainty leading this country . To the edge of a cliff . Governor , Premier and 5 cabinet members having meetings regularly and cannot get the information straight to the people of this country ? What a disappointment on the part of both leaders ? All of us went to COLLEGE!!’People are not saying much but slowly we are really seeing “ what unconventional government means ‘ 1. Two leaders with conflicting messages -,2. Promises broken 3. Worst than the former govt 4. Do not question my story 4. Muzzling of the press 5. Extremely CYNICAL. Not doing good .

  13. Wow... says:

    These two are starting to sound just like Donald and Nancy! Why are these two not working together and hashing out their differences privately? How embarrassing! Why is there a U.K. Governor and not a BVI native, anyways? Could the Crown not implement some sort of liaison instead and allow the position of Governor to actually do what governors normally do?

    Like 1
    Dislike 1
    • Ganga says:

      A BVI Governor would be beholden to the local politics. Better to have UK one who can keep this place from becoming like TCI did or St. Kitts or Antigua where corruption is rife.

  14. Rick says:

    The people of the bvi need to have a town hall with the government and the governor we need to put both of them on the spot and ask questions we need to know who is telling us the truth

  15. Wow... says:

    @ Ganga, good point. Agreed!

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