Turks and Caicos, March 31, 2017 – Providenciales – The Chief Financial Officer’s tenure is done; Stephen Turnbull sat in his last Cabinet meeting this week and once the UK keeps its word, the post, though constitutionally established will cease to exist within TCIG. Baroness Anelay, the UK Foreign Minister promised former Premier Rufus Ewing that she would not re-instate a CFO.
The UK appointed Chief Financial Officer legally had the power to veto government spending on projects and according to former Finance Minister, Washington Misick the CFO was the one pulling the strings of the public purse. The TCI has been lauded for its fiscal performance in some quarters for having three consecutive years of tens of millions in surpluses but in other views this prudence has hurt the country because many necessary projects went undone.
The TC Weekly News recently exposed that the Governor is looking for a financial advisor, who may or may not be a Turks and Caicos Islander. It is unclear what powers this individual will be given. The CFOs tenure officially ends March 31, 2017.
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