Beautiful Virgin Islands

Saturday, Jul 05, 2025

Financial services carried VI when tourism industry was halted- Premier Wheatley

Financial services carried VI when tourism industry was halted- Premier Wheatley

“We see the wisdom of our predecessors when they chose to establish our financial services industry in the 1980s,” Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) remarked in a statement on the 5th Anniversary of Hurricane Irma today, September 6, 2022.

Category 5 Hurricane Irma ripped through the Virgin Islands (VI) during the daylight hours of Wednesday, September 6, 2017. It caused widespread destruction, and killed a total of four people.

$2.3B in damages


Estimates, according to Dr Wheatley, put the immediate damage in the region of $2.3 billion and that many others lost their lives indirectly afterwards, due to physical and emotional causes.

The Premier said history will reflect that in the aftermath of Irma and a second Category five hurricane, Maria, just two weeks later, the “indomitable spirit and resilience” of the Virgin Islands people burst forward.

Category 5 Hurricane Irma ripped through the Virgin Islands (VI) during the daylight hours of Wednesday, September 6, 2017. It caused widespread destruction, and killed a total of four people.


Recovery through resilience


“With our limited resources, some help from neighbours and friends and our strength that comes from our faith in God, we cleaned up the debris, restored vital infrastructure, and started rebuilding our homes and our lives.”

Premier Wheatley said the Virgin Islands has continued the recovery process over the past five years, despite the interruption of the COVID-19 pandemic, by delivering recovery projects financed by the Caribbean Development Bank (CDB) Recovery and Rehabilitation Loan and “our own financial resources.”

He said he was also very pleased that many of these recovery projects have been completed by Virgin Islands contractors who have done an outstanding job with the support of the Recovery and Development Agency (RDA), under the leadership of Mr Anthony S. McMaster.

The Virgin Islands has been rebuilding from the devastation of Hurricane Irma in 2017, mostly from its own resources.


Financial Services sustained Gov’t revenues- Premier


Premier Wheatley also said it was the VI’s financial services industry that sustained government revenues following Hurricane Irma, as the tourism industry was halted.

“Confidence in our financial services industry remained high and provided revenues to carry us through.

“We see the wisdom of our predecessors when they chose to establish our financial services industry in the 1980s,” Dr Wheatley stated, adding that there is still much to do with regards to hurricane recovery.

The VI's financial services industry continues to come under attack, including from the United Kingdom.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Trump Celebrates Independence Day with B-2 Flyover and Signs Controversial Legislation
Boris Johnson Urges Conservatives to Ignore Farage
SNP Ordered to Update Single-Sex Space Guidance Within Days
Starmer Set to Reject Calls for Wealth Taxes
Stolen Century-Old Rolls-Royce Recovered After Hotel Theft
Macron Presses Starmer to Recognise Palestinian State
Labour Delayed Palestine Action Ban Over Riot Concerns
Swinney’s Tax Comments ‘Offensive to Scots’, Say Tories
High Street Retailers to Enforce Bans on Serial Shoplifters
Music Banned by Henry VIII to Be Performed After 500 Years
Steve Coogan Says Working Class Is Being ‘Ethnically Cleansed’
Home Office Admits Uncertainty Over Visa Overstayer Numbers
JD Vance Questions Mandelson Over Reform Party’s Rising Popularity
Macron to Receive Windsor Carriage Ride in Royal Gesture
Labour Accused of ‘Hammering’ Scots During First Year in Power
BBC Head of Music Stood Down Amid Bob Vylan Controversy
Corbyn Eyes Hard-Left Challenge to Starmer’s Leadership
London Tube Trains Suspended After Major Fire Erupts Nearby
Richard Kemp: I Felt Safer in Israel Under Attack Than in the UK
Cyclist Says Police Cited Human Rights Act for Riding No-Handed
China’s Central Bank Consults European Peers on Low-Rate Strategies
AI Raises Alarms Over Long-Term Job Security
Saudi Arabia Maintains Ties with Iran Despite Israel Conflict
Musk Battles to Protect Tesla Amid Trump Policy Threats
Air France-KLM Acquires Majority Stake in Scandinavian Airlines
UK Educators Sound Alarm on Declining Child Literacy
Shein Fined €40 Million in France Over Misleading Discounts
Brazil’s Lula Visits Kirchner During Argentina House Arrest
Trump Scores Legislative Win as House Passes Tax Reform Bill
Keir Starmer Faces Criticism After Rocky First Year in Power
DJI Launches Heavy-Duty Coaxial Quadcopter with 80 kg Lift Capacity
U.S. Senate Approves Major Legislation Dubbed the 'Big Beautiful Bill'
Largest Healthcare Fraud Takedown in U.S. History Announced by DOJ
Poland Implements Border Checks Amid Growing Migration Tensions
Political Dispute Escalates Between Trump and Musk
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
US Senate Votes to Remove AI Regulation Moratorium from Domestic Policy Bill
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
Jury Deliberations in Diddy Trial Yield Partial Verdict in Serious Criminal Charges
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
King Charles Plans Significant Role for Prince Harry in Coronation
Two Chinese Nationals Arrested for Espionage Activities Against U.S. Navy
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
Trump Administration Considers Withdrawal of Funding for Hospitals Providing Gender Treatment to Minors
Texas Enacts Law Allowing Gold and Silver Transactions
China Unveils Miniature Insect-Like Surveillance Drone
×