I wanted to commend Peter Wickham on his article of last week explaining the negative effects that the recent United Kingdom decision will have on the fiscal stability of the Virgin Islands and the doubtful competitiveness that the territory’s financial sector will enjoy in the future.
In light of the comments, questions arise. How will the VI adjust to this enormous blow to its gross domestic product? How will the public sector make sufficient cuts or find enough borrowing capacity to bridge the period needed to adjust?
Importantly, how will the VI government pursue novel tourist investments, particularly Prospect Reef?