BVI, Caribbeanand International News

We don’t want to sell our soul to borrow — Premier

We don’t want to sell our soul to borrow — Premier

Premier Dr Natalio Wheatley has insisted that the territory will not sell its proverbial soul in efforts to borrow money to fund new capital projects.
The Premier made that assertion after being questioned by reporters about his government’s intention to seek loans for future projects contrasted against a prior refusal by the previous Andrew Fahie-led government to accept a United Kingdom (UK) loan guarantee of some $426 million.

“The challenge that was had with the loan guarantee had to do with the conditions which [were] attached to the guarantee,” Premier Wheatley said. “I don’t think that when you have somebody who’s down, they’re devastated, they’ve been destroyed by hurricanes, you should be attaching some of the conditions that we attach to it.”

He added: “So yes, we want to borrow, but we don’t want to sell our soul, to borrow, and we don’t want to sell out the Virgin Islands to borrow.”

The territory’s leader said the people of the Virgin Islands can be guaranteed that when he makes an effort to borrow, it will not be ‘in exchange for the soul of the Virgin Islands’. 

“We’re gonna borrow on terms which are fair,” he stated. “Of course, you borrow your money, you have to pay back, plus interest. We’ll look for the best rate possible, and that’s really the only conditions which are practical and make sense; not lots of other things that have nothing to do with the loan itself.”

Premier Wheatley previously disclosed that the government intends to tender a project for roadworks extending from Paraquita Bay to Trellis Bay that will cost in the region $10 million and suggested that his government will likely be utilising loan funds to complete this project.

Related Articles

Today's news from Britain - 9th February 2023
The five largest oil companies in the West generated combined profits of nearly $200 billion in 2022, which has led to increased calls for governments to impose tougher windfall taxes
2 earthquakes in Turkey killed over 2,300 people
Powerful Earthquake Strikes Turkey and Syria, Killing More Than 1,300 People.
Turkish photographer Ugur Gallenkus portrays two different worlds within a single image. Brilliant work
Tennessee Bill Would Imprison People for 3 Years If They 'Lie' About Rape to Get an Abortion.
Charlie Munger, calls for a ban on cryptocurrencies in the US, following China's lead
EU found a way to use frozen Russian funds
First generation unopened iPhone set to fetch more than $50,000 at auction.
WARNING GRAPHIC CONTENT - US Memphis Police murdering innocent Tyre Nichols
Almost 30% of professionals say they've tried ChatGPT at work
Interpol seeks woman who ran elaborate exam cheating scam in Singapore
What is ChatGPT?
Bill Gates is ‘very optimistic’ about the future: ‘Better to be born 20 years from now...than any time in the past’
Tesla reported record profits and record revenues for 2022
Prince Andrew and Virginia Giuffre Photo Is Fake: Ghislaine Maxwell
Opinion | Israel’s Supreme Court Claims a Veto on Democracy
Moonwalker Buzz Aldrin Gets Married On His 93rd Birthday
Who’s Threatening Israeli Democracy?
Federal Reserve Probes Goldman’s Consumer Business
China's first population drop in six decades
Microsoft is finalising plans to become the latest technology giant to reduce its workforce during a global economic slowdown
China's foreign ministry branch in Hong Kong urges British gov't to stop the biased and double standards Hong Kong report
Tesla slashes prices globally by as much as 20 percent
1.4 Million Copies Of Prince Harry's Memoir 'Spare' Sold On 1st Day In UK
After Failing To Pay Office Rent, Twitter May Sell User Names
Lisa Marie Presley, singer and daughter of Elvis, dies aged 54
FIFA president questioned by prosecutors
Britain's Sunak breaks silence and admits using private healthcare
Hype and backlash as Harry's memoir goes on sale. Unnamed royal source says prince 'kidnapped by cult of psychotherapy and Meghan'
Saudi Arabia set to overtake India as fastest-growing major economy this year 
Google and Facebook’s dominance in digital ads challenged by rapid ascent of Amazon and TikTok
FTX fraud investigators are digging deeper into Sam Bankman-Fried's inner circle – and reportedly have ex-engineer Nishad Singh in their sights
TikTok CEO Plans to Meet European Union Regulators
UK chaos: Hong Kong emigrants duped by false prospectus
France has banned the online sale of paracetamol until February, citing ongoing supply issues
Japan reportedly to give families 1 million yen per child to move out of Tokyo
Will Canada ever become a real democracy?
Hong Kong property brokerages slash payrolls in choppy market
U.S. Moves to Seize Robinhood Shares, Silvergate Accounts Tied to FTX
Effect of EU sanctions on Moscow is ‘less than zero’ – Belgian MEP
Coinbase to Pay $100 Million in Settlement With New York Regulator
FTX assets worth $3.5bn held by Bahamas securities regulator
A Republican congressman-elect is under investigation in New York after he admitted he lied about his education and work experience.
Brazilian football legend Pele, arguably the greatest player ever, has died at the age of 82.
Hong Kong to scrap almost all its Covid rules
EU calls screening of travellers from China unjustified
US imposes Covid testing for visitors from China
Ukraine President Volodymyr Zelenskyy Addresses Joint Session of Congress - FULL SPEECH
If a country is denied the right to independence by another, it is not in a union. It is in a dictatorship.