The Director for Overseas Territories in the UK Foreign and Commonwealth Office (FCO), Mr. Colin Roberts, during his first official visit to the BVI territory held discussions with Ministers of BVI Government, senior Government officials and non-governmental organizations, on several matters including public finances, climate change and security.
During the press conference Mr. Roberts said that he had fruitful discussions with the BVI Government. The financial discussions concerned the issues of cuts and expenditures, borrowings and the increase in revenue; their focus were public finances of BVI with their deficit and the “growing gap between expenditure and revenue”. Mr. Roberts also said that the global economic situation has created difficult times for the relationship between the UK and the Overseas Territories, due to the both side stresses related to the pressure on economies and public finances.
Mr. Roberts noted that a number of other UK Overseas Territories in the Caribbean region are in much worst economic and physical situation than the BVI Territory, as a result of the processes taking place in the global economy, and they are seeking the UK approval for borrowings and sometimes even looking forward for UK loans or substantial grants. He pointed out that this is not the case with the British Virgin Islands.
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