#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.
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.”
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).
Register of Interests of the Members of the House of Assembly
#TurksandCaicos, September 29, 2023 – The Integrity Commission advises that the Register of Interests for Members of the Turks and Caicos Islands House of Assembly, as at 31st December 2022 has been completed.
Members of the House of Assembly are required by the Turks and Caicos Islands Constitution, Section 103(2), and the Integrity Commission Ordinance (the Ordinance), as amended, Section 52(1), to file with the Commission, Statements of Registrable Interests. The Commission would, therefore, like to inform members of the public that, it has compiled the information contained in these Statements of Registrable Interests and has produced The Register of Interests 2022 for the Members of the House of Assembly, as at 31st December 2022.
The Register of Interests 2022 is now available for public inspection at the following locations:
- House of Assembly in Grand Turk
- Office of the Premier – Grand Turk and Providenciales
- Office of the Integrity Commission – Grand Turk and Providenciales (during the hours of 8:30am to 4:30pm from Mondays to Thursdays and 8:00am to 4:00pm on Fridays.)
- Office of the District Commissioner – Middle Caicos, North Caicos, Salt Cay and South Caicos.
The Register can be viewed at these locations during normal working hours or at a time that is convenient for the respective offices.
For further information or any assistance please contact the Integrity Commission:
By telephone at: 946-1941(Grand Turk Office) or 941-7847 (Providenciales Office) By e-mail at: email@example.com or firstname.lastname@example.org
Students not in school cite Fees as Roadblock
Dana Malcolm and Wilkie Arthur
#TurksandCaicos, September 29, 2023 – Concerning reports are coming out of Providenciales regarding the placement of students as the new term got started.
Wilkie Arthur, Magnetic Media Court Correspondent, had the opportunity to speak with several young people who were supposed to be in school. Instead, they were hanging out close to home, as they said they couldn’t afford the fees of the private schools they had been placed in.
Edgar Howell, Director of Education, during an August 31st press conference, had indicated that at least 26 students were awaiting assistance with placement in private high schools and 35 students were awaiting placements in primary schools. Parents should have heard from the ministry within days.
“The schools are full and they don’t have any more money to continue the [private] schools they were going to. So, this bright September morning these children are actually just idle,” he explained.
By law (Education Ordinance 2009), all children between four and 16 years old in the Turks and Caicos Islands are considered of ‘Compulsory School Age’ meaning, they must be enrolled in an institution.
It has long been the practice of the Ministry of Education to place students in private schools and subsidize the fees when space has run out in public schools. This year was no different.
“The Ministry continues to provide assistance to the parents through the private school subsidy program and 375 students are being assisted for the 2023/24 school year,” Howell explained.
It’s not clear if these students were a part of that number.
We have since reached out to representatives at the Turks and Caicos Ministry of Education for information on students who are not in school, how many remain unable to fit into public school classes and what provisions are in place for those students; there has been no update.
Grand Turk residents say they suffered lack attention from TCIAA
#TurksandCaicos, September 29, 2023 – Upgrades are underway at the JAGS McCartney International Airport but Grand Turk Residents say they were subject to subpar conditions for far too long; the comments came at a town hall meeting hosted by the Turks and Caicos Islands Airports Authority in the capital on Thursday September 21, at Dillon Hall.
“I am speaking on behalf of Grand Turk residents. It is unacceptable for the Airports Authority to treat residents how they do,” one resident told TCIAA executives at a town hall meeting in Grand Turk.
The airport was hit during Hurricane Fiona in late 2022, resulting in a destroyed roof and serious damage to the terminals from extensive flooding plus damage to the domestic and international arrival areas, deeming the area unfit for use.
The hurricane damage last year only exacerbated the destruction wrought by previous storms including 2008’s Hurricane Ike and 2017’s Hurricanes Irma and Maria.
The JAGS McCartney International was reopened for domestic arrivals just this past June after phase one of a restoration project. The international terminal was scheduled to open soon after but repairs are still ongoing. Residents told TCIAA executives, the work was simply not executed quickly enough.
“The lack of attention that they paid to the JAGS McCartney Airport after the hurricane, having the residents of this island come in like we’re from a third world country for months? It’s unacceptable for residents of this island for you all to leave us like that,” a resident maintained.
Ongoing updates include fixing the perimeter fence and parking lot as well as the fire station. Residents appeared grateful but cautiously optimistic.
“We see the plans that you have— which is good, and we hope that the next time we have a disaster we don’t have to be waiting for months [and] be treated like that.”
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