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#GrandTurk, Turks and Caicos Islands – December 17, 2020 – A starting loan of $80 million dollars is approved by the Turks and Caicos House of Assembly and it will help to mitigate the economic fall-out resulting from the impact of the coronavirus pandemic on the local economy. 

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Losses sent the Turks and Caicos into recession and demanded that funds be found to fill the hundreds of millions of dollars lost in government revenue. 

Premier Sharlene Robinson, on Wednesday December 16, informed the House, that it took a mere seven weeks of a competitive bidding process following the October announcement of the need for the loan, to agree on the Republic Bank Ltd as the best lender.

The loan is for up to $80 million at a per annum interest rate of 2.9 percent. Turks and Caicos has 12 months to repay the loan and can borrow an additional $100 million with no additional fees or penalties, said Mrs. Robinson, TCI Premier and Minister of Finance.

The Opposition Leader believes it took the PDM Administration too long to move to secure the loan.

“It is surprising that it took us until October to be able to reach out to financial institutions,” said Washington Misick, who is also the former Minister of Finance, “We could have seen this coming and could have better prepared to provide relief to the people of the Turks and Caicos Islands based on those projections. The good thing about numbers, the good thing about financial planning is you could always present what is called flexible budgets, scenario analysis that would say what the worst situation is, the best situation is and more likely situations.”

C. Washington Misick, Leader of Oppositon (PNP), file photo

Mr. Misick is convinced the Turks and Caicos will need more money and shared the Opposition will support the measure largely because of those who would be adversely impacted if the borrowed funds were any further delayed.

“…for the people of the Turks and Caicos Islands and particularly the persons who would most likely be impacted, by the inability to pay government expenses  in the absence of having this stand by line of credit

 There was also concern and caution expressed by the Opposition Leader about when Turks and Caicos would begin to see some semblance of normal in the leading industry of tourism.

“It is anticipated that tourism would be in full swing by the middle of December, which is where we are now my understanding is the average occupancy rate in the islands is around 35 at the most 40 percent. So, I’m hoping – as I have spoken to the budget in April – that again we are not being over optimistic about what the real situation is.”

Misick agreed that the cost of the borrowing is reasonable.

Republic Bank is based in Port of Spain, Trinidad and Tobago and is a publically traded company on the Trinidad and Tobago Stock Exchange (TTSE).

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TCI News

TCI Hosts Strategic Defence Summit as Overseas Territories Regiments Strengthen Security Partnerships

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Turks and Caicos, December 4, 2025 – The Turks and Caicos Islands this week became the centre of regional security cooperation as senior defence leaders from across the British Overseas Territories gathered in Providenciales for the 4th Annual Overseas Territories Commanding Officers Conference — a three-day summit focused on strengthening capability, maritime readiness, and inter-territorial partnerships.

Acting Governor Anya Williams and Premier Charles Washington Misick, OBE, on December 1, welcomed Lord Lancaster, a key figure in the establishment of the TCI Regiment and the current Honorary Colonel of the Cayman Islands Regiment, for a courtesy call and high-level briefing session. Lord Lancaster joined Permanent Secretary for National Security Tito Lightbourne, TCI Regiment Commanding Officer Colonel Ennis Grant, and Commanding Officers from Bermuda, Cayman, Montserrat, the Falkland Islands, and UK defence representatives.

The visit, along with the wider conference agenda, signals a meaningful step forward for the rapidly evolving TCI Regiment, which has grown into a crucial national asset for disaster response, coastal security, joint operations, and resilience planning. Lord Lancaster’s presence carries additional significance: he was instrumental in shaping the Regiment’s formation in 2020 and remains a vocal advocate for expanding the capabilities of small-territory defence units within the UK network.

At the conference’s opening ceremony, Acting Governor Williams emphasised the importance of “collaboration and strategic leadership across the Overseas Territories,” noting that shared challenges — from climate shocks to transnational crime — demand a unified approach. The Permanent Secretary echoed this, highlighting increased maritime coordination and training pathways as areas where the TCI is seeking deeper integration with its regional counterparts.

Throughout the week, Commanding Officers participated in strategic discussions, intelligence and security briefings, resilience planning sessions, and on-site engagements showcasing the TCI’s developing operational infrastructure. The agenda also focused on improving interoperability — ensuring that Overseas Territories regiments can operate seamlessly together during disaster deployments, search and rescue missions, and joint maritime operations.

For the TCI Regiment, hosting the conference marks a milestone: it positions the young force as an active contributor in shaping the region’s security future rather than merely a participant. Leaders left no doubt that the momentum is intentional — and that the Turks and Caicos Islands are strengthening their role within a broader, coordinated defence framework designed to safeguard shared interests.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Michael Misick Rejects Government’s 60/40 Shift as Business Licensing Debate Reignites

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Turks and Caicos, December 4, 2025 – For the first time in his long political career, former Premier Michael Misick appeared on Drexwell Seymour’s “Financially Speaking” radio programme this week — and he used the platform to forcefully reject the Government’s new 60/40 business-ownership model, arguing that Turks and Caicos Islanders are once again being positioned to lose ground in their own country.

The interview came at a pivotal moment: the Washington Misick Administration has just issued a detailed press statement confirming that the controversial 100% Islander-only ownership requirement — praised by some as overdue protectionism and criticised by others as unconstitutional and discriminatory — was never Cabinet’s intended position. A “drafting error,” the Government now says, caused the blanket 100% clause to appear in the Business Licensing (Amendment) Bill, prompting a pause in Parliament and a full review.

This week, Cabinet reaffirmed its balanced 60/40 framework, arguing that meaningful majority control for Turks and Caicos Islanders must coexist with access to external capital, expertise, and investment partnerships. The Government cited international models, financing constraints for local entrepreneurs, and the need to avoid “harsh outcomes” that could unintentionally weaken local businesses or violate constitutional safeguards. It further pledged strengthened anti-fronting mechanisms, tighter oversight, and mandatory protections for local shareholders.

But Michael Misick isn’t convinced.

During the wide-ranging RTC interview, the former Premier dismissed the 60/40 model as inadequate and accused successive governments of diluting the rights and economic standing of heritage Turks and Caicos Islanders. He argued that fronting has flourished under the existing 51% rule, and that only full, uncompromised Islander ownership in certain industries can prevent locals from being reduced to symbolic partners with no real power. Misick described the Business Licensing Board’s disappearance, the rise of unchecked approvals, and the growing dominance of expatriate capital as evidence that the country is “losing itself, bit by bit, every sunrise.”

Seymour, a CPA and economic commentator, echoed concerns about fronting and asked whether the territory’s leaders were “afraid” to implement robust protections. Misick went further, accusing modern politicians of lacking political courage and failing to defend the long-term interests of heritage Turks and Caicos Islanders.

“Every time legislation comes to empower our people, there is resistance,” Misick said.
“When it’s something that penalises our people, no one objects.”

The Government’s clarification attempts to neutralize that narrative, insisting Cabinet did not “retreat” under pressure but merely corrected an error to restore policy integrity. Still, the timing — after months of public debate, stakeholder pushback, and ongoing reference to the Grant Thornton economic impact report — has only deepened suspicion among critics who say the Administration is wavering.

What is clear is this:
The Business Licensing reform has cracked open the deepest unresolved question in the Turks and Caicos Islands — how to protect a small population from economic displacement while maintaining an investment climate that supports national development.

With Parliament scheduled to revisit the Bill this month, the clash between political philosophy and economic pragmatism is now on full display. And as Misick made clear on RTC, this debate will define not just policy, but identity.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.  

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Bruce Willis’ Brave Gift to Dementia Research – And His now Quiet Link to Turks & Caicos

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December 4, 2025 – Hollywood legend Bruce Willis – arguably the most famous former home owner in Turks and Caicos Islands – is facing the most difficult role of his life and turning it into one last act of service.

Willis, 70, retired from acting in 2022 after his family revealed he had been diagnosed with aphasia. The following year, specialists confirmed he is living with frontotemporal dementia (FTD), a degenerative brain disease that attacks language, behaviour and personality.

In recent interviews and appearances, his wife Emma Heming Willis has said Bruce is “surrounded by love and care” and that the family is learning to find joy in new ways, even as the disease progresses.

Now, Heming Willis has gone further.  In her 2025 memoir The Unexpected Journey, she writes that the family has decided Bruce’s brain will be donated to science after his death to advance research into FTD.  That decision has been highlighted in recent coverage by futurist and science outlets, which describe it as a carefully considered step after months of watching a still-physically-strong man steadily lose speech, reading and independence.

Neurologists have long stressed how rare donated brain tissue is for FTD, and how essential it is to understanding which proteins, mutations and mechanisms are actually driving the disease.  The Willis family’s choice means the brain that powered some of cinema’s most iconic characters could one day help researchers diagnose the condition earlier and design better treatments – even if it cannot help Bruce himself.

For Turks and Caicos, the story lands close to home.  For nearly two decades Willis owned “The Residence” on exclusive Parrot Cay – a 7.3-acre, Asian-inspired beachfront compound with a five-bedroom main house, two guest villas and a yoga pavilion.  He and Emma listed the estate in March 2019 for US$33 million; it sold a few months later for about US$27 million, one of the biggest residential deals in TCI history.

So, while Bruce Willis no longer has a physical address in Turks and Caicos, his connection to these islands remains part of his global story – a story now shifting from blockbuster fame to medical legacy, as his family turns private heartbreak into a public contribution that could change what we know about dementia.

Developed by Deandrea Hamilton • with ChatGPT (AI) • edited by Magnetic Media.

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