British Virgin Islands

Monday, Jun 01, 2020

Money transfer services not part of 'internal economy'- Premier Fahie

Says only business contributing to national income flow allowed to operate in 'economic reboot'

"The economy has been shut down for almost a month now. In this first phase of the reopening of our economy, only businesses that will directly contribute to national flow of income to the internal economy has been allowed to reopen first".


Internal economy rebooting first

Yesterday, April 28, 2020, the 'Imposition of a Curfew (No. 14) Order, 2020' was gazetted to take effect from today, April 29, 2020, as part of the current 1:00pm-6:00am daily curfew for the purpose of suppressing and preventing the spread of COVID-19 in the Territory.

However, while the order did specify that Insurance and Financial Services that cannot be carried out remotely would be allowed to operate at specific times, notably missing was money transfer services.

Now, according to the Premier, money transfer services will have to remain closed until the internal economy reboots. "The progress of the rebooting of our economy, internally first, will allow for complete and constant monitoring while trying to balance keeping our people safe," he said.

Some residents have already taken to social media to voice their disapproval of the move to not reopen the sector, a move that came without warning or explanation.


Progress will be measured - Premier Fahie

When questioned, Premier Fahie also could not say when the sector will be allowed to operate; however, he said the progress of the local economy will be measured and monitored.

"As the progress is measured it will make way for more and more businesses to reopen while adhering to ALL social distancing measures," he said.

The current 'Imposition of a Curfew (No. 14) Order, 2020' will remain in place until Sunday, May 10, 2020.

Government recently introduced a 7% levy on money transfer services which, according to the Premier, will see seven cents taken from every dollar leaving the Territory.

Newsletter

Quote of the Day

Don’t worry about people stealing your design work. Worry about the day they stop.

Jeffrey Zeldman
Related Articles

British Virgin Islands
×