Beautiful Virgin Islands

Monday, Aug 04, 2025

‘We don’t want to sell our soul to borrow’- Premier Wheatley

‘We don’t want to sell our soul to borrow’- Premier Wheatley

Admitting that the Government of the Virgin Islands is strapped for cash to execute all of its plans and projects and will need to borrow at some point, Premier and Minister of Finance Dr the Honourable Natalio D. Wheatley (R7) has said it will be done in a responsible manner and not jeopardise the territory.

The Premier during a press conference on December 2, 2022, was asked that since there is a need to borrow whether the territory would have been better off if it had taken the controversial Loan Guarantee offered by the United Kingdom (UK) following the devastating hurricanes of September 2017.

First announced under the Dr D. Orlando Smith, National Democratic Party (NDP) government, the United Kingdom (UK) through a recovery and reconstruction package for the Virgin Islands (VI) had promised up to £300 million in loan guarantees and £10 million in grants to support the Territory's recovery after Hurricanes Irma and Maria of 2017.

The UK had; however, demanded that in order for VI to receive the funds, the territory's financial control had to be handed over to the Virgin Islands Recovery and Development Agency (RDA), which was set up at the request of the UK.

Additionally, the VI government had tried without success to get the UK to lift the borrowing threshold in the Protocols for Financial Management to allow the territory to borrow substantial amounts without violating the Protocols.


The Virgin Islands has recovered well without the controversial Loan Guarantee offered by the United Kingdom (UK) following the hurricanes of September 2017.

‘We don’t want to sell out the VI to borrow’ Premier

“The challenge that was had with the loan guarantee had to do with the conditions, which are attached to the guarantee. I don’t think that when you have somebody who is down, they devastated, they have been destroyed by hurricanes you should be attaching some of the conditions that you attached to it,” Dr Wheatley told reporters.

He said the VI needs to borrow but it must be done responsibly.

“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.

He assured that the people of the Virgin Islands “can be guaranteed” that when he goes to borrow it will not be in exchange for the soul of the Virgin Islands.

“We are going to borrow on terms that are fair. Of course, you borrow the money, you have to pay back with interest, we will look for the best rate possible and really those are the only conditions that are practical and make sense, not lots of other things that have nothing to do with the loan itself.” Dr Wheatley stated.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Pilots Call for Mental Health Support Without Stigma
All Five Trapped Miners Found Dead After El Teniente Mine Collapse
Ong Beng Seng Pleads Guilty in Corruption Case Linked to Former Singapore Transport Minister
BP’s Largest Oil and Gas Find in 25 Years Uncovered Offshore Brazil
Italy Fines Shein One Million Euros for Misleading Sustainability Claims
JPMorgan and Coinbase Unveil Partnership to Let Chase Cardholders Buy Crypto Directly
Declassified Annex Links Soros‑Affiliated Officials and Clinton Campaign to ‘Russiagate’ Narrative
UK's Online Safety Law: A Front for Censorship
Nationwide Protests Erupt in Brazil Demanding Presidential Resignation
Parents Abandon Child at Barcelona Airport Over Passport Issue
Mystery Surrounds Death of Brazilian Woman with iPhones Glued to Her Body
Bus Driver Discovers Toddler Hidden in Suitcase in New Zealand
Switzerland Celebrates 734 Years of Independence Amid Global Changes
U.S. Opens Official Investigation into Former Trump Prosecutor Jack Smith
Leaked audio of Canada's new PM Mark Carney admitting the truth about the Net Zero agenda: "We're gonna make a lot of money off of this."
China Enforces Comprehensive Ban on Cryptocurrency Activities
Absolutely 100% Realistic EVO Series Doll by EXDOLL (Chinese Company) used mainly for carnal purposes
World Economic Forum founder Klaus Schwab: "In this new world, we must accept... total transparency. You have to get used to it. You have to behave accordingly. But if you have nothing to hide, you shouldn't be afraid."
Meet Mufti Hamid Patel, head of Office for Standards in Education in Pakistan
George Soros tells the World Economic Forum: "President Trump is a con man and the ultimate narcissist, who wants the world to revolve around him."
Hamas are STARVING the hostages.
Decline in Tourism in Majorca Amidst Ongoing Anti-Tourism Protests
British Tourist Dies Following Hair Transplant in Turkey, Police Investigate
Poland Begins Excavation at Dziemiany After New Clue to World War II‑Era Nazi Treasure
WhatsApp Users Targeted in New Scam Involving Account Takeovers
Trump Threatens Canada with Tariffs Over Palestinian State Recognition
Trump Deploys Nuclear Submarines After Threats from Former Russian President Medvedev
Trump Sues Murdoch in “Heavyweight Bout”: Lawsuit Over Alleged Epstein Letter Sets Stage for Courtroom Showdown
Germany Enters Fiscal Crisis as Cabinet Approves €174 Billion in New Debt
Trump Administration Finalizes Broad Tariff Increases on Global Trade Partners
J.K. Rowling Limits Public Engagements Citing Safety Fears
JD.com Launches €2.2 Billion Bid for German Electronics Retailer Ceconomy
Azerbaijan Proceeds with Plan to Legalise Casinos on Artificial Islands
Former Judge Charged After Drunk Driving Crash Kills Comedian in Brazil
Jeff Bezos hasn’t paid a dollar in taxes for decades. He makes billions and pays $0 in taxes, LEGALLY
China Increases Use of Exit Bans Amid Rising U.S. Tensions
IMF Upgrades Global Growth Forecast as Weaker Dollar Supports Outlook
Procter & Gamble to Raise U.S. Prices to Offset One‑Billion‑Dollar Tariff Cost
House Republicans Move to Defund OECD Over Global Tax Dispute
Botswana Seeks Controlling Stake in De Beers as Anglo American Prepares Exit
Trump Administration Proposes Repeal of Obama‑Era Endangerment Finding, Dismantling Regulatory Basis for CO₂ Emissions Limits
France Opens Criminal Investigation into X Over Algorithm Manipulation Allegations
A family has been arrested in the UK for displaying the British flag
Mel Gibson refuses to work with Robert De Niro, saying, "Keep that woke clown away from me."
Trump Steamrolls EU in Landmark Trade Win: US–EU Trade Deal Imposes 15% Tariff on European Imports
ChatGPT CEO Sam Altman says people share personal info with ChatGPT but don’t know chats can be used as court evidence in legal cases.
The British propaganda channel BBC News lies again.
Deputy attorney general's second day of meeting with Ghislaine Maxwell has concluded
Controversial March in Switzerland Features Men Dressed in Nazi Uniforms
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
×