BVI News

Labour constraints likely to affect BVI’s reconstruction, says CDB

BVI News photo of local construction workers.

Regional lending body, the Caribbean Development Bank (CDB) does not believe the local recovery process will be at optimal levels; at least not this year.

According to the CDB’s 2018 economic report on the BVI released last month, the territory is ‘likely’ to experience difficulty in fulfilling the labour demands necessary for the local recovery effort.

The report said: “Capacity constraints, particularly labour, will likely continue to adversely affect the pace of reconstruction.”

The CDB said these ‘likely’ capacity constraints are part of the ‘downside risks’ of the “many regulatory requirements that are being imposed on the financial services sector”.

These requirements are largely from superpowers such as the European Union which currently has BVI on its ‘greylist’ of tax haven jurisdictions and the United Kingdom which is providing a £300 million loan guarantee to the BVI.

The CDB, in the meantime, said additional risks to the BVI and its recovery includes “a global economic slowdown”. It said “extreme weather events in 2019, would [also] place additional pressures on the recovery”.

With these potential threats, the CDB encourages central government to “prioritise long-term development needs in human and social development, improving the ‘doing business’ environment, and [addresssing] environment and climate change issues”.

As a lender, the CDB typically monitors the economy of its borrowing countries. The CDB loaned $65 million to the BVI for rehabilitation and reconstruction following the 2017 disasters.

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12 Comments

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  1. Musa says:

    Come on our people come together and build back this bvi .can be done by our self.

    Like 12
    Dislike 6
  2. son of the soil says:

    Don’t mind them, it’s just an excuse to get more island man in here. We allowed some to come and where are they? Working on the outer islands

    Like 5
    Dislike 17
    • @ Son of the Soil says:

      You again….you worse than a woman mehson. Is only a broke man was does go on so. Get off your a** do something for yourself and it won’t matter who come here from who ain’t come cuz you gone be happy knowing you got yours! Sorry excuse for a human being

      Like 4
      Dislike 1
  3. Tell the truth says:

    This is nonsense. There are a bunch of persons walking around the country at the moment who came in after the storms and there is not enough work for them to do at the moment.

    We need to do a reform and have better tracking mechanisms for things like this as these reports are being put forward into tricking us into the need to continue to grow our population exponentially without real economic benefit to the people.

    Like 14
    Dislike 10
  4. lawyer says:

    Although the country needs more labor to carry out the recovery work, we are constrained by the limited amount of housing for the laborers. Also, the cost of housing has skyrocketed, due to the increase in cost of construction and insurance. There is still a great need for government to help in the rebuilding process by allowing the importation of cheaper labor. This will help to control the spiraling inflation. For some puzzling reason, food cost is also increasing and I don’t know why. What has changed that has cause food prices to go up? The major food stores are capitalizing on the unrestrictive pricing, because they know they are the only source of food in the BVI. Maybe the UK Government could help us with food security. The majority of our population needs affordable housing, food, public transportation, and education.

    Like 14
    Dislike 1
    • Common Sense says:

      The hike in food prices is very puzzling seeing as import costs on food are stagnant over the last year. Costs up and quality down

  5. Reaping what was sown says:

    After the storms I offered to come to BVI with a literal boatload of building supplies and skilled construction workers I had access to in South America. Some very unkind people told me they didn’t want my help because I’m “a white American and just want the place for myself.” So the supplies and most importantly, the electricians, plumbers, welders concrete men, and carpenters stayed in South America. Now BVI has the slowest recovery of any of the nation’s and territories and in part due to… Lack of skilled labor slowing construction. My small team would have only helped a small amount, but one has to wonder how many others out there like me are there? BVI is reaping what it has so – discord. Finger pointing, and a slow recovery that will now take a decade to recover from. It makes me sad because I have many close friends in BVI that are having a hard time of it. An entire generation of BVIslanders will suffer from the actions of a privileged few.

    Like 21
    Dislike 5
  6. ms says:

    PUT A STOP TO THOSE HATERS OF THE BVI WHO DON’T WANT TO SEE PROGRESS FOR THE REGINE.

    WE BELONGERS WHO HAVE VESTED INTEREST FOR GOOD FOR THE BVI – WE KNOW WHAT OUR ANCESTORS DID TO GET THE BVI WHERE AND THE MANY PROGRESS IT HAS MADE FOR THOSE SAME PEOPLE WHO ARE TALKING. THEY MUST WORK AS HARD AS THEY COULD TO SEE THE BVI CONTINUE TO MAKE PREGROSS AND IF THAT IS NOT WHAT THEY WANT TO SEE FOR REGINE – IF THEY DON’T HAVE A TRUE VESTED INTEREST THEM THEY HAVE AND MUST LEAVE THE PLACE FOR THOSE WHO WISH THE BVI THE BEST IT COULD AND MUST BE IN THE W O R L D OF TOMORROW

    Dislike 10
  7. Richie joseph says:

    I am a skilled labourer with years of experience I have experience in jouniry , capentry and labour works I am willing to come to assist in the rebuilding of the country I can be contacted at 17587196287 at any time

  8. Captain Black says:

    I’m a skilled builder. Canada and US code certified.

    ifixall@gmail.com

    Happy to consult in any capacity.

  9. E Scott says:

    The uk offered trades man and labour free after Irma . BVI said can we have cash instead, fema then offered the same and BVI said no again and said can we have cash .

    Now prices are going up, why ? Because those that have the power can charge what they want . There is lots of cash around at the moment from insurance payouts so island foke are gouging each other until it runs out.

    The mentality of BVI will never changes, steel, con and gouge then go church because your good people .

    Like 10
  10. Common Sense says:

    As long as this sense of entitlement reigns there will be no unification or respite for the persons struggling. No one wants to steal the BVI. There are persons looking for opportunities that are open to everyone. There is a need for a better immigration system I will say that. However, if it could be done by the BVIslanders alone it would have been. The “well to do” will make right for themselves while the ones below fight amongst each other. Surprised more BVIslanders haven’t woken up after the hurricane and all that’s come after it.

    Like 1
    Dislike 1

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