News
TCI Gov’t Announces $10.5 million debt write-off
Dana Malcolm
Staff Writer
#TurksandCaicos, September 19, 2023 – Over 170 Turks and Caicos Islands families have been relieved of a collective $10.5 million debt stemming from decades-old TC Invest Loans.
There was an air of jubilation and support from members in the House of Assembly when the motion to write off the massive mortgage debts was moved by E Jay Saunders, Minister of Finance and Deputy Premier, on September 14th.
The motion laid out that with residents struggling under the weight of high cost of living the government had decided to strike the loans from the books completely.
“This motion is our chance, as policymakers, to create a future (a brighter future) for 176 Turks & Caicos Islander families—-we are not just providing financial relief; but we are also restoring dignity, rekindling their hope, and in so doing, reaffirming our commitment to the well-being of our people and ensuring that they can live their best lives,” Saunders said.
The money had been loaned to residents over decades beginning in 1997 by the now-defunct TC Invest. When the government-controlled investment company went belly up in 2012 and the British stepped in to lead the Turks and Caicos, a total of $17 million was owed on the loans. 
The government sold the non-performing loans (the loans with irregular payments) in the portfolio to TOLCO who got to keep 60 percent of any payments made while TCIG kept 40 percent and the performing loans. Five years later, the agreement ended and the entire loan portfolio was back under the control of TCIG.
This meant the government was owed the initial payments plus interest. But residents still couldn’t afford to pay, and thus began a series of write-offs to ease the burden.
- In March 2020 the government wrote off all the interest that had built up on the loans, just over $8 million
- From April 2020 to September 2020 the government froze interest in the loans to try to get residents to pay them off. It didn’t work.
- When that freeze ended interest built up again and again went unpaid, the government wrote it off again in January 2023, a sum of $1.8 million. They then issued another interest freeze and even tried to lower the interest rate but residents still aren’t making any payments.
In recognition that the debt was unbearable for the loan holders, the government decided to forgive the sum in its entirety.
This is no different than what has been done on many occasions for large companies that find themselves in debt. Saunders revealed that residents struggling with the payments had even written in to ask that it be forgiven.
At the passing of the motion, some members called for celebration be it coffee, chocolate, or champagne.
The hope from TCIG now is that residents will be able to own these lands and homes outright.
Providenciales, Turks and Caicos Islands (March 5, 2026) – As the Turks and Caicos sporting community celebrates the spirit of
youth athleticism, leading telecoms provider, Flow is highlighting the transformative power of connectivity following the successful conclusion of the 2026 Inter-High Track and Field Championships held at the Turks and Caicos Islands National Stadium from February 26 to 28.
As the Official Media Sponsor for the event, Flow provided livestreaming services that premiered across social media and on Flow TV’s Channel 111. This ensured that families and fans throughout the Turks and Caicos Islands could witness every record-breaking moment. To keep the event running at top speed, Flow also provided broadband services throughout the venue, maintaining seamless connectivity throughout the games.
“Our long-standing partnership with the Turks and Caicos Islands Sports Commission is a shared promise to invest in the next generation. Over the years we have worked together to create opportunities for young people to train, compete and grow,” said Joanne Missick, Country
Manager, Flow Turks and Caicos Islands.
“We make this investment because sport develops more than athletes. It’s a long-term investment for us in our people, pride and possibility, and it’s a partnership we hold close because advancing our youth advances the entire nation.”
The commitment to the Games extended directly to the track, where Flow served as the headline sponsor for the 200-meter category. Spanning seven races, the partnership culminated during the official medal ceremony with the company presenting winners with Flow merchandise bags.
Off the track, Flow mobilised engagement through the interactive sales booth. The site became a hub for activity, featuring Spin the Wheel promotions and gift certificate giveaways during Q&A intermissions, ensuring the energy of the crowd remained high.
Looking ahead, Flow is preparing to carry this momentum into the upcoming Inter-Primary Track and Field Championships, continuing its investment in the next generation of sporting talent in the Turks and Caicos Islands.
Providenciales, Turks and Caicos Islands – Commissioner of Police Fitz Bailey has been recognised for his contribution to national security and the tourism industry, receiving the Distinguished Civic Service Award at the Turks and Caicos Hotel and Tourism Association’s Star Awards held on February 19, 2026 at Beaches Turks and Caicos.
The annual awards ceremony is the premier recognition event for the territory’s hospitality sector, bringing together industry leaders,
executives and frontline professionals to celebrate excellence and the individuals whose work strengthens the destination’s global reputation.
Commissioner Bailey was honoured for his strategic leadership in the fight against crime and the measurable reductions in major offences, efforts widely credited with improving public confidence and reinforcing the Turks and Caicos Islands’ standing as a safe and competitive tourism jurisdiction.
In accepting the award, the Commissioner dedicated the recognition to the officers and staff of the Royal Turks and Caicos Islands Police Force, praising their commitment and professionalism in what he described as a collective national effort to make the islands more secure.
The TCHTA Star Awards spotlight the link between public safety and tourism performance, acknowledging that a stable and safe environment is essential to visitor confidence, investment and the continued growth of the sector.
This year’s ceremony featured high-energy hosting by Super P the Entertainer, with Omega serving as awards announcer, as the industry gathered to honour the people and partnerships that continue to elevate the Turks and Caicos brand.
(Providenciales – Monday, March 2, 2026) TCI Hospital proudly announces the successful achievement of its Heart Strong TCI initiative, a comprehensive Heart Month campaign focused on raising awareness and strengthening cardiovascular disease prevention efforts across the Turks and Caicos Islands.
Heart disease remains the leading cause of death in the Turks and Caicos Islands, highlighting the critical need for sustained public education, risk-factor reduction, and early intervention. The Heart Strong TCI initiative was designed to actively engage the community through education, outreach, and physical activity.
Key Activities Included:
Educational Training Sessions
Healthcare professionals conducted structured sessions addressing hypertension, diabetes, cholesterol management, nutrition, exercise, smoking cessation, and the early warning signs of heart disease.
House Call Talk Show Feature
A dedicated Heart Month episode of the hospital’s House Call program provided expert discussion on cardiovascular risk factors and prevention strategies, empowering viewers with practical, evidence-based guidance.
Red Fridays Awareness Campaign
Throughout the month, staff wore red every Friday to increase visibility around heart disease awareness and reinforce the campaign’s message within the community.
Heart Strong 5K Walk/Run
In collaboration with the Rotary Club, TCI Hospital hosted a community-wide 5K walk/run to promote physical activity as a cornerstone of
heart health. The walk/run also provided an opportunity for community screening.
Digital Health Education Campaign
To expand its reach, TCI Hospital also shared ongoing heart health education tips and prevention messages across its social media platforms, including Facebook, LinkedIn, and Instagram. These posts provided actionable guidance on diet, exercise, blood pressure control, and lifestyle modification, and encouraging community members to learn CPR.
Heart Strong TCI: A Continuous Commitment
While Heart Month has officially ended, Heart Strong TCI represents an ongoing institutional commitment to cardiovascular disease prevention and awareness. TCI Hospital will continue to prioritize:
- Community-based education initiatives
- Preventative screening and early detection programs
- Lifestyle and wellness promotion
- Strategic partnerships that advance public health outcomes
“Heart Strong TCI is not limited to a single month,” CEO, Dr. Denise Braithwaite-Tennant. “Cardiovascular disease prevention requires sustained effort. We remain committed to promoting healthy hearts across the Turks and Caicos Islands year-round.”
For more information about cardiovascular health services or upcoming screening initiatives, please contact TCI Hospital at 649-941-2800 in Providenciales, 649-941-2900 in Grand Turk or email us at info@interhealthcanada.tc
About TCI Hospital
TCI Hospital is dedicated to delivering high-quality healthcare services to the people of the Turks and Caicos Islands, with a strong emphasis on prevention, education, and community wellness.
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