The British Virgin Islands has been issued a Double-A-Minus rating from the Caribbean Information and Credit Rating Services Limited (CariCRIS).
This was confirmed by Premier and Minister of Finance Honourable Andrew Fahie at a recent press conference.
According to CariCRIS, when a country or entity is issued a double A rating, it means they carry a very low credit risk and are considered to “have high degree of safety regarding timely servicing of financial obligations.”
Premier Fahie also said that the report from CariCRIS also highlighted the positive impact that his government’s stimulus packages had on the economy in 2021.
To further highlight the positive growth the BVI has experienced since the pandemic, the premier pointed to other data which showed a growth on company incorporations and registrations.
He said the CariCRIS report stated that the aforementioned incorporations and registrations increased in the BVI by 62 percent year on year.
This he added is supported by the territory remaining as one of the largest players worldwide in offshore company registrations, with approximately 372,911 active incorporated entities as of September 30, 2021.