Opposition legislator Honourable Myron Walwyn has raised serious concerns about the ability of Premier and Minister of Finance Dr. the Honourable Natalio Wheatley to effectively negotiate a $100 million loan that the government is seeking.
During a recent debate in the House of Assembly, Walwyn expressed hesitation about trusting Premier Wheatley with the responsibility of securing the loan. His doubts stem from a significant financial oversight related to the recently implemented salary structure for public servants, which was acknowledged by the premier.
Premier Wheatley had previously disclosed that the new salary structure required an additional $13 million beyond what was originally budgeted. However, Walwyn contends that the true figure is closer to $20 million, describing the shortfall as a “monumental blunder.”
The Sixth District Representative also voiced concerns about the government’s overall financial management. Despite the territory having over $200 million in cash reserves and various funds, Walwyn questioned why the BVI is still facing financial difficulties.
He criticized the government for increasing recurrent expenditure by $30 million and suggested that these issues point to a broader management problem.
Walwyn urged the government to take a more diligent approach to their responsibilities, emphasizing the need for better research and attention to detail for the benefit of the people of the Virgin Islands.
As the government continues its efforts to secure the $100 million loan, these concerns from the opposition highlight the ongoing debate over the territory’s financial strategy and the leadership’s ability to manage it effectively.