Beautiful Virgin Islands

Thursday, Jul 24, 2025

'You could end up with nothing'- Hon Fraser tells Premier Fahie

"You could end up with nothing," was a warning from Third District Representative, Hon Julian Fraser RA to Premier and Minister of Finance, Hon Andrew A. Fahie over the possible outcome of the Virgin Islands/UK Loan Guarantee negotiations regarding adjustments to the stipulations of the loans.

Premier Fahie was at the time speaking on what he called 'Successful negotiations' during his recent trip to the UK at the Eleventh Sitting of the First Session of the Fourth House of Assembly which commenced on Thursday, October 17, 2019.


'I acted in time' - Premier Fahie

Hon Fraser had sought to know whether the Virgin Islands had reacted before or after the UK ultimatum to take up the loan, to which the Premier said he reacted on time.

"I acted in time and informed the Foreign and Commonwealth Office of our intention to access the guarantee. However, negotiations are ongoing since they are a couple of negotiation points yet to be resolved by the parties. Through these negotiations we were able to achieve flexibility in the September 30th deadline," Premier said.

Following more questions, the Premier said, however, that while he achieved flexibility, he would not reveal too many details into the public domain which could hamper the ongoing negotiation process.

Hon Fraser responded, "You acknowledged the 30th as a deadline and sought an extension, but at the same time, you are saying it was a resounding success?"

"You don't know what the outcomes of these discussions would be, you could end up with nothing... how could it be a resounding success if you have nothing?" Hon Fraser said in questioning the role of the Virgin Islands Recovery and Development Agency (RDA) in the UK loan conundrum.


'People want to see us fail' - Premier

According to Premier Fahie, "I know that they are those who hope we end up with nothing, but one thing we [are going] to do is try, and one thing we [are] doing is to make sure that we try in the best interest of the people of the Virgin Islands (VI). I pray to God that we do not end up with nothing," he said in response.

Hon Fahie continued, "but if it comes to that point, I can go to the people of the Virgin Islands and then say... these are all the areas that I was fighting on your behalf and this is what we were able to get done or not done," he said.

The Premier reiterated that while the UK has been open and receptive, discussions are delicate and he cannot reveal the full details, "both sides are listening to each other, and the deadline has been extended so that we can discuss further to find common ground in some areas," he said.

The Leader of Government Business further noted that the deadline extension was a victory on its own and that the UK is accommodating and have since been reasonable throughout the negotiation process.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
Trump Announces $550 Billion Japanese Investment and New Trade Agreements with Indonesia and the Philippines
US Treasury Secretary Calls for Institutional Review of Federal Reserve Amid AI‑Driven Growth Expectations
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Severe Flooding in South Korea Claims Lives Amid Ongoing Rescue Operations
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Japanese Prime Minister Vows to Stay After Coalition Loses Upper House Majority
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
CEO Resigns Amid Controversy Over Relationship with HR Executive
Man Dies After Being Pulled Into MRI Machine Due to Metal Chain in New York Clinic
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
US Revokes Visas of Brazilian Corrupted Judges Amid Fake Bolsonaro Investigation
U.S. Congress Approves Rescissions Act Cutting Federal Funding for NPR and PBS
North Korea Restricts Foreign Tourist Access to New Seaside Resort
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
×