There are no longer “red lights flashing” regarding the territory’s finances, said Colin Roberts, the Foreign and Commonwealth Office’s director of the Overseas Territories Directorate, during a press conference today.
“The BVI is basically a success story,” Mr. Roberts said. During his last visit to the territory, he had expressed his 
concern about the territory’s spending, but said in retrospect, the Virgin Islands has weathered the global recession better than other OTs and many of the region’s independent states.
Mr. Roberts also said that good governance and sound financial management are a top priority for the UK government, which he emphasised by repeating a statement he’s made before: The situation in Turks and Caicos Islands “will never happen again.”
The FCO is satisfied with the VI’s financial outlook as long as the VI sticks to its latest budget, Mr. Roberts said.
See the April 14, 2011 edition for full coverage.