Beautiful Virgin Islands

Tuesday, Jun 03, 2025

BVI doesn’t print money, says Fahie on requests for more stimulus

BVI doesn’t print money, says Fahie on requests for more stimulus

Premier Andrew Fahie remains evasive about whether a second round of stimulus will be presented by his government to badly hurting businesses in the territory; further fuelling speculation by residents of the Virgin Islands over whether there will be assistance coming their way.
The Leader of Government Business was at the time being questioned by Opposition Leader Marlon Penn about his intention to introduce any new stimulus measures for businesses in the territory.

Penn observed that after a year into the COVID-19 pandemic, businesses continue to experience severe financial pressure and are continuing to close.

“Unlike larger countries that have their own printery,” Fahie told the House of Assembly recently. “The BVI does not print money. We have to earn it and build upon it.”

Fahie said while he has sympathy for the businesses that are hurting, his government has been trying and has assisted with grants previously.

“What about the almost 2,000 businesses that we helped?” Fahie asked. “I don’t’ hear anything about them … We pick on the couple that we still haven’t gotten to.”

Penn previously called on government to disperse a second round of economic stimulus to further support residents and businesses still reeling from the effects of the COVID-19 pandemic. At the time, he urged that funds for this new stimulus to be taken from “reserve funds, including budget reprioritisation to free up funding”.

The Premier, however insists: “In the Virgin Islands, we are working together doing the best we can with what is in our hand.”

Further, Fahie said he previously outlined a raft of initiatives to benefit businesses, families and the economies.

He told the House that while other countries might appear to be flourishing, they were very much like a duck in their appearance; “[they] look good up on top but underneath paddling to stay afloat.”

Premier Fahie added: “The world as a result [of the COVID-19 pandemic] is faced with decreased economic activity because businesses have had to close their doors, people have had to stay indoors and lessen travel.”
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Harvard Urges US to Unfreeze Funds for Public Health Research
Businessman Mauled by Lion at Luxury Namibian Lodge
Researchers Consider New Destinations Beyond the U.S.
53-Year-Old Doctor Claims Biological Age of 23
Trump Struggles to Secure Trade Deals With China and Europe
Russia to Return 6,000 Corpses Under Ukraine Prisoner Swap Deal
Microsoft Lays Off Hundreds More Amid Restructuring
Harvey Weinstein’s Publicist Embraces Notoriety
Macron and Meloni Seek Unity Despite Tensions
Trump Administration Accused of Obstructing Deportation Cases
Newark Mayor Sues Over Arrest at Immigration Facility
Center-Left Candidate Projected to Win South Korean Presidency
Trump’s Tariffs Predicted to Stall Global Economic Growth
South Korea’s President-Elect Expected to Take Softer Line on Trump and North Korea
Trump’s China Strategy Remains a Geopolitical Puzzle
Ukraine Executes Long-Range Drone Strikes on Russian Airbases
Conservative Karol Nawrocki wins Poland’s presidential election
Study Identifies Potential Radicalization Risk Among Over One Million Muslims in Germany
Good news: Annalena Baerbock Elected President of the UN General Assembly
Apple Appeals EU Law Over User Data Sharing Requirements
South Africa: "First Black Bank" Collapses after Being Looted by Owners
Poland will now withdraw from the EU migration pact after pro-Trump nationalist wins Election
"That's Disgusting, Don’t Say It Again": The Trump Joke That Made the President Boil
Trump Cancels NASA Nominee Over Democratic Donations
Paris Saint-Germain's Greatest Triumph Is Football’s Lowest Point
OnlyFans for Sale: From Lockdown Lifeline to Eight-Billion-Dollar Empire
Mayor’s Security Officer Implicated | Shocking New Details Emerge in NYC Kidnapping Case
Hegseth Warns of Potential Chinese Military Action Against Taiwan
OPEC+ Agrees to Increase Oil Output for Third Consecutive Month
Jamie Dimon Warns U.S. Bond Market Faces Pressure from Rising Debt
Turkey Detains Istanbul Officials Amid Anti-Corruption Crackdown
Taylor Swift Gains Ownership of Her First Six Albums
Bangkok Ranked World's Top City for Remote Work in 2025
Satirical Sketch Sparks Political Spouse Feud in South Korea
Indonesia Quarry Collapse Leaves Multiple Dead and Missing
South Korean Election Video Pulled Amid Misogyny Outcry
Asian Economies Shift Away from US Dollar Amid Trade Tensions
Netflix Investigates Allegations of On-Set Mistreatment in K-Drama Production
US Defence Chief Reaffirms Strong Ties with Singapore Amid Regional Tensions
Vietnam Faces Strategic Dilemma Over China's Mekong River Projects
Malaysia's First AI Preacher Sparks Debate on Islamic Principles
White House Press Secretary Criticizes Harvard Funding, Advocates for Vocational Training
France to Implement Nationwide Smoking Ban in Outdoor Spaces Frequented by Children
Meta and Anduril Collaborate on AI-Driven Military Augmented Reality Systems
Russia's Fossil Fuel Revenues Approach €900 Billion Since Ukraine Invasion
U.S. Justice Department Reduces American Bar Association's Role in Judicial Nominations
U.S. Department of Energy Unveils 'Doudna' Supercomputer to Advance AI Research
U.S. SEC Dismisses Lawsuit Against Binance Amid Regulatory Shift
Alcohol Industry Faces Increased Scrutiny Amid Health Concerns
Italy Faces Population Decline Amid Youth Emigration
×