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TCI Fiscal Performance Outstanding; $60 million Surplus

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IMG_5988Providenciales, An over sixty million dollar government surplus for this fiscal year has made the Turks and Caicos a sought after destination, not only for vacations but now for lenders who can bring relief from the UK bailout loan. The economy of the Turks and Caicos has rebounded; so says the Minister of Finance Hon Washington Misick who this week gave a performance report on Quarter Three of the country’s budget year.

“It hasn’t trickled down to the extent that we would like it to trickle down as yet, but I think we are on our way and that will sometime in the next 12 months or so as the government spending increases in the upcoming budget, I think you will see that significant new jobs will be added to the economy, public sector jobs.”

Misick said it has been a slow bounce back, but the Turks and Caicos is poised to see an increase in employment. Magnetic Media asked about the unemployment rate of the country; the minister did not know that rate.

“I think that information is available online, I don’t know it off the top of my head to be honest with you but that is something that is always changing and of course the unemployment rate in my view for Turks and Caicos is difficult to have an exact estimate of it because a lot of people do not allow themselves to be counted.”

Media also asked how many jobs were projected to be created within the public sector; Minister Washy did not know that either.

“There certainly will be some new jobs will be created from the government side and I believe there are significant new jobs are to be created by the private sector.”

But he did spell out that government income for the quarter was $55.9 million; 15% above budget and a whopping $45.4 million above revenue taken in the same period in 2013-14. This current fiscal period is outperforming the last one by 28%; and when compared to what other countries are seeing and grappling with; it is true, this is an enviable position for the TCI.

“Even if you look at our neighbors in the United States, the last projections are that the US economy will be growing (I think) at 2.3%, which is what was less than what was projected a quarter ago, three months ago. Generally speaking, the economy of the Turks and Caicos, I think we can say with certainty has rebounded.”

It was the first time the financial report was presented so elaborately to media; that press conference was held in the arrivals lounge of the Providenciales International Airport.

Magnetic Media is a Telly Award winning multi-media company specializing in creating compelling and socially uplifting TV and Radio broadcast programming as a means for advertising and public relations exposure for its clients.

Health

Woman dies on Tuesday; 32nd Covid Death for Turks & Caicos

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By Dana Malcolm

Staff Writer

 

#TurksandCaicos, January 20, 2022 – The Turks and Caicos has recorded its 32nd death related to COVID-19.

A Ministry of Health press release informed that the individual who was in quarantine in Grand Turk and requested emergency aid on Tuesday; response came from the public health team in Grand Turk.

The person, who we are told is a special needs young woman – was unvaccinated and had underlying medical conditions.

The death rate in the Turks and Caicos of both vaccinated and unvaccinated persons has climbed alarmingly this year.  In the 21-month period from March 2020 when the country recorded its first case to December 2021, there were 26 deaths recorded in the TCI.

In the 19 days since the start of 2022 that number has increased to 32; which means six deaths already in January.

 

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Bahamas News

Cruising should slow down says PAHO

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By Dana Malcolm

Staff Writer

 

‘Slow down on Cruising’, that’s the word from the Pan American Health Organization, PAHO in their latest recent press conference.

Dr. Ciro Ugarte Director of Health Emergencies at the PAHO was referring to the Bahamas but made sure to note that the advice was highly relevant to many countries in the times of omicron.

“In the context of intense transmission, due to the Omicron variant as we have highlighted several times. It is just logical to suspend or at least limit the cruise ship traffic as an outbreak on board might end up exceedingly high and probably will go beyond the capacity of local health services”

Both the Bahamas and the Turks and Caicos are experiencing a massive uptick in cases and several warnings regarding cruise travel have been issued by the US Centers for Disease Control.

Cruising just resumed for many regional countries this past Summer, Turks and Caicos was among the latest to restart on December 13.

A stop to sailing would be devastating to economies, however, ports of call like Grand Turk which are reeling with rocketing case numbers of COVID are urged to consider the suggestion of slowing down on ships by PAHO.

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Caribbean News

Cayman gets its second ‘Sir’; former Premier Alden McLaughlin knighted on Jan 1

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By Dana Malcolm

Staff Writer

 

#Cayman, January 20, 2022 – Former Premier of Cayman Alden McLaughlin was knighted at the start of 2022; named in the Queen’s New Year Honors List. He is only the second Caymanian to have ever received a knighthood from her Majesty Queen Elizabeth II.

Sir Vassel Johnson, received the honour in 1994; he was Cayman’s first Financial Secretary; he died in November 2008 at the age of 86.

Current Governor, Martyn Roper extended congratulations saying, “This is an outstanding personal achievement for former Premier McLaughlin, one of the most important and impactful political leaders in Cayman over the last 21 years. It is a significant moment for our islands. This historic award is only the second ever Knighthood to a Caymanian since the first in the 1990s. It is a strong signal of the respect in which Cayman is held and a visible demonstration of the progress Cayman has made as a vibrant democracy with strong good governance foundations.”

Sir McLaughlin, who is also now a QC attorney, served two terms as premier and had a career in politics that spanned 21 years. McLaughlin is known for his role in modernizing Cayman’s constitution.

Current premier G. Wayne Panton described the occasion as a unifying moment for the country saying, This is a day of celebration and great pride for all Caymanians as a son of our soil has been bestowed one of the highest honour.  Today marks a new and most unique storyline in the history of the Cayman Islands.  In considering the rarity and magnitude of this occasion, this is certainly a unifying moment for our community.”

Sir Alden McLaughlin, 60, was appointed as a Knight Commander of the Most Distinguished Order of Saint Michael and Saint George on January 1, 2022.

 

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