Premier and Minister of Finance, Honourable Andrew A. Fahie, has told Caribbean Heads of Government and Ministers of Finance that COVID-19 is placing significant pressure on the Virgin Islands economy as the society combats the spread of the coronavirus.
Premier Fahie’s remarks were part of a prepared statement made at a virtual meeting of Caribbean Finance Ministers on the impact of COVID-19 hosted by the Economic Commission for Latin America and the Caribbean (ECLAC) on April 28.
Among other things, the Premier updated the gathering on the health and social impact of COVID-19 on the Virgin Islands and the initial response by the Government. He also stressed the importance of grants, soft loans and concessional financing for the countries affected by the global pandemic that are also preparing for the coming hurricane season.
The Premier thanked ECLAC Executive Secretary Alicia Barcena and the agency’s Caribbean Sub-regional Headquarters in Port of Spain, Trinidad for their continued support to the Virgin Islands and other Associate Member Countries (AMCs) of ECLAC in their pursuit of sustainable development.
In an interview with the Department of Information and Public Relations, Premier Fahie said the meeting was an important opportunity for Caribbean Leaders to make the international community aware of the economic, fiscal, social and health challenges the region is facing as a result of COVID-19 and the support they need to get through this crisis and recover from it.
Premier Fahie said, “In the BVI we understand all too well the difficulties of trying to recover from a catastrophic event without the needed financial resources, as we have had to do since 2017 after hurricanes Irma and Maria. I encourage our region’s international partners to be as supportive as possible as we face this new global challenge together.”
The Premier was accompanied by Financial Secretary in the Ministry of Finance, Mr. Glenroy A. Forbes, Deputy Secretary in the Premier’s Office, Mrs. Eliva Smith-Maduro and Special Envoy of the Premier, Mr. Benito Wheatley.
The Virgin Islands is a Vice Chair of the Caribbean Development Cooperation Committee (CDCC) which serves as ECLAC’s permanent subsidiary body for the Caribbean.