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TCI Records First Quarter of Negative Growth Throne Speech reveals

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By Deandrea Hamilton

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#TurksandCaicos, September 15, 2023 – The Turks and Caicos Islands economic hot streak is cooling; within the Throne Speech of September 14 it was explained that the Washington Misick Administration is monitoring the global economy for any trends which may offset the TCI’s fiscal buoyancy after recording negative growth in the first fiscal quarter of 2023-2024.

“My government will continue to watch the world economy and adjust as we see fit to ensure that our people are protected and have a chance for the best outcomes. The global economic contraction is cause for concern. For the first quarter, the TCI revenues were $109.8 million. That is $3.7 million or 3% below estimates.”

The decrease in government income follows two consecutive periods of banner performances in tourism and real estate.

In delivering the message penned by Hon C. Washington, Misick, the Premier of the Turks and Caicos Islands in the Throne Speech, the governor, on his behalf said: “Mr Speaker! The 2022/23 Financial Year was challenging for my government and the people of these islands, but through the mercies of God, we finished the year with much to celebrate and much to be thankful for.

Mr. Speaker! While the TCI’s economic prospects are tied to the rest of the world, this little country is doing far better than many larger economies.

The economy has recovered fully from the downturn caused by the COVID-19 pandemic and over the last two and a half years has seen consistent growth,” said H.E. Daleeni Daniel-Selveratnam, Governor of the Turks and Caicos Islands.

The IMF has warned that the global economy is poised to slow.  Already, Canada is reporting that it has had a first quarter of negative growth.  Now, the Turks and Caicos is revealing the same.

“As we enter this legislative year, we must be mindful that as a tourist-dependent economy, we will remain vulnerable to global economic conditions.

That is why my government is striving to build an economy that has a strong foundation, is sustainable, diversified and above all gives every islander and resident an equal opportunity to create the best life for their families.”

The government explained in that parliamentary speech that while there have been pioneering strides in devising savings’ plans, managing debt, decreasing unemployment and raising salaries, according to the Speech, the Turks and Caicos is not absolved from external shocks.

“The Russia-Ukraine war continues to have a negative impact on us.  Over the last year, we have seen the cost of fuel and food increase significantly.

My government is mindful of the hardships that many families are facing. As we have done over the last two and a half years, we will continue to find ways to ease the burdens.”

Governor Daniel-Selveratnam, on behalf of the PNP Administration shared that spending will not be paused on previously touted Government initiatives.  In fact, it was announced that crowd Funds and Programs are advancing.

“The National Wealth Fund stands at $50.8 million. This is a testament to our journey toward posterity. It is a testament to an economy built to withstand external shocks and has the ability to bounce back quickly after a catastrophic event or natural disaster. The fund is valued at about 4% of the Gross Domestic Product (GDP). It is distributed in four specific ways:

  • The Stabilisation Fund has the lion’s share with $30.7million
  • The Infrastructure and Competitiveness Fund has $8.8 million
  • The Heritage Fund has $4.3 million and
  • Citizen’s Empowerment Fund $7 million. The first project of the Citizen’s Empowerment Fund is the creation of the National Credit Union to benefit all status holders and British Overseas Territories Citizens (BOTCs) who live in the TCI. I am happy to report that this is well underway.”

The Speech reflected on raised salaries for the Public Sector, establishment of an e-system to support a government worker pension fund and $1 Million invested in a reverse osmosis system for the once beleaguered facility in Grand Turk.

However, in addition to earnings being down for the first quarter, government spending dropped significantly.

“Total Expenditure was $20.9 million below estimates.  These results are for the 1st quarter only and could change.”

The Turks and Caicos is courting investments and in the Throne Speech, the nation learned of infrastructural projects which have the potential to boost earnings for the country, however, at no point in the presentation was the topic of economic diversification broached; no mention of new earnings streams and no mention of the current number two and three industries: Financial Services and Agriculture adn Fisheries.

The absence of potential remedies to the heavy reliance of Turks and Caicos on Tourism, raises questions about how the government plans to broaden the recurrent revenue stream or weather a possible global recession.

The Throne Speech was delivered to a packed galley on Thursday September 15, 2023 at the House of Assembly in Grand Turk.  It was the first Throne Speech for Her Excellency Daleeni Daniel-Selveratnam as the newest governor of the Turks and Caicos Islands.

Government

Government Outlines New Healthcare Vision as Interhealth Exit Accelerates Reform  

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By Magnetic Media Newsroom

 

PROVIDENCIALES, Turks and Caicos Islands — The Turks and Caicos Islands Government says the breakdown of its relationship with InterHealth Canada presents an opportunity to reshape healthcare delivery, with plans to expand local medical services, strengthen primary care and reduce dependence on overseas treatment.

During a national briefing following InterHealth Canada’s notice terminating its hospital contract, Premier Charles Washington Misick acknowledged publicly for the first time that Government and InterHealth had been negotiating an exit from the arrangement for more than a year after what he described as an “irretrievably broken down” relationship.

Despite the contractual dispute, Misick and Health Minister Kyle Knowles stressed that healthcare services will continue uninterrupted during the transition.

“Allow us to do our job,” Knowles appealed, assuring residents that Government is actively managing the transition and safeguarding patient care.

The Premier outlined what amounts to a broader healthcare transformation built around four connected levels of care: strengthened community-based primary healthcare; expanded polyclinic services; enhanced hospital-based secondary care with greater specialist capacity; and overseas tertiary treatment only for cases that cannot be managed locally.

Among the proposals are the long-discussed establishment of intensive care units, expanded use of currently unfinished hospital space, recruitment of more resident specialist physicians and stronger contract management to oversee future healthcare agreements.

Knowles said the new polyclinic model will broaden services available outside the hospitals, including dentistry, ophthalmology, laboratory services, diagnostic imaging, gynaecology and preventative screening, helping to reduce pressure on emergency departments while improving early intervention.

Misick also acknowledged that while the hospital system significantly improved healthcare access after opening in 2010, Government believes further reform is necessary to improve affordability, sustainability and the range of services available within the Turks and Caicos Islands.

The briefing marked the Government’s most comprehensive explanation to date of its plans beyond the InterHealth contract, signalling that officials now see the transition as an opportunity to redesign healthcare delivery rather than simply replace one operator with another.

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Education

Turks and Caicos Islands Students Excel at Cycle 13 WizdomCRM Regional AI Game National Awards Ceremony

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Ministry of Education Representatives with Rubis and Top 3 Performers

Providenciales, Turks and Caicos Islands – Wednesday, 22 July 2026:  The Ministry of Education, Youth, Sports and Culture proudly congratulates the students of the Turks and Caicos Islands on their outstanding performance at the Cycle 13 WizdomCRM Regional Virtual Sustainable Stock Market AI Game National Awards Ceremony.

The ceremony was held on Thursday, 16 July 2026, at the Blue Haven Resort, under the theme “Champions Today. AI Leaders Tomorrow.” It was hosted by the Ministry in collaboration with WizdomCRM.

Students across the Caribbean took part in the investment challenge, each beginning with a virtual portfolio of USD $25,000 and working to grow it through simulated investments on regional and international stock markets. Throughout the competition, students were guided by Mr. Rabbit, WizdomCRM’s AI Tutor, and supported by E-Classroom sessions, building financial literacy, critical thinking and investment skills.

The Turks and Caicos Islands emerged as the region’s top-performing territory, claiming the top six regional positions, securing 14 of the Caribbean’s Top 20 places, and placing four schools on the regional leaderboard. Leading the region was Marc Roubentz-Perceus of TCIPS Comprehensive High School, who grew his portfolio to USD $370,336.63. He was followed by Joshua Creese of Raymond Gardiner High School in second place, and Stendro Chalas of TCIPS Comprehensive High School in third. Raymond Gardiner High School was also recognised as the Top School for Cycle 13.

Hon. Rachel M. Taylor, Minister of Education, Youth, Sports and Culture, said: “I congratulate every student who took part in Cycle 13. You

have demonstrated the confidence to compete with the very best students regionally, and you have shown our country what is possible. This success is not luck; it is the result of an ecosystem built by students, teachers, parents, school leaders and partners who continue to invest in educational excellence. As we look ahead, the Ministry is in active discussions with WizdomCRM to expand access to its AI-powered learning tools, including Super AI, the AI Tutor, the Plagiarism Checker and the Grammar Checker, so that our young people are equipped with the future-ready skills they need to succeed.”

The Ministry extends sincere appreciation to the dedicated teachers who mentored the students, and to Rubis Turks and Caicos, whose sponsorship provided the cash prizes awarded to the top three regional champions. The Ministry also thanks WizdomCRM, participating schools, parents and stakeholders for their partnership in this achievement, which reflects the Ministry’s continued commitment to innovation, digital learning and youth development across the Turks and Caicos Islands.

WIZDOM CRM – Top Performers Cycle 13

Position  Name  School Portfolio Value Regional Placement
1st Marc Roubentz-Perceus TCIPS Comprehensive High School $ 370,336.63 1st
2nd Joshua Creese Raymond Gardiner High School $ 264,841.31 2nd
3rd Stendro Chalas TCIPS Comprehensive High School $ 247,738.09 3rd
4th Ojed’harlie Jolissaint Wesley Methodist School $ 227,389.60 4th
5th Tyshawn Wright Raymond Gardiner High School $ 189,064.18 5th
6th Jah’keem Missick Raymond Gardiner High School $ 173,654.58 6th
7th Curvin Handfield Raymond Gardiner High School $ 156,984.89 8th
8th Chadazea Darville Wesley Methodist School $ 147,428.43 9th
9th Vivaan Castleton British West Indies Collegiate $ 120,833.83 14th
10th Damendine Simplus TCIPS Comprehensive High School $ 118,660.55 15th
11th Dyvion Louis Raymond Gardiner High School $ 111,572.81 16th
12th Colin Moriarty British West Indies Collegiate $ 106,854.81 17th
13th Kensley Felix TCIPS Comprehensive High School $ 101,285.06 18th
14th Redjino Saint-Louis Raymond Gardiner High School $ 99,927.39 19th

TEACHERS

  1. Fexnel Colvert – TCIPS Comprehensive High School
  2. Valerie Olice – Raymond Gardiner High School
  3. Warren French – Wesley Methodist School
  4. Phyllis Boucher – British West Indies Collegiate

Top Performing School: Raymond Gardiner High School

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Government

Parnell Urges Premier to Step Aside, Proposes Bipartisan Board to Guide Healthcare Transition

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By Magnetic Media Newsroom

 

PROVIDENCIALES, Turks and Caicos Islands — Opposition Leader Douglas Parnell is calling on Premier Charles Washington Misick to step aside, arguing that the Government has failed to provide the leadership, transparency and public engagement needed as the Turks and Caicos Islands prepares for one of the most significant changes in its healthcare system.

Responding to Government statements following InterHealth Canada’s contract termination notice, Parnell said residents were only now learning officially that negotiations with the hospital operator had been underway for more than a year, despite several previous opportunities for Government to inform the public.

He questioned why no detailed explanation was provided during the State of the State Address, Budget Debate or recent healthcare announcements, including the opening of the new polyclinic.

Parnell argued that while the PDM supports reforming or replacing the existing hospital arrangement, the process must be transparent and centred on the public interest.

The Opposition Leader reminded residents that the PDM had challenged the InterHealth agreement while in government, pursuing arbitration and preparing further legal action over concerns about the contract before leaving office following the General Election.

To guide the next phase, Parnell proposed establishing a bipartisan Health Transition Board comprising Government and Opposition representatives to oversee the transition, monitor public accountability and manage the procurement process for any future healthcare provider.

He also outlined what the PDM believes should form the foundation of the next healthcare system, including guaranteed continuity of care, automatic employment protection for hospital workers, recruitment incentives for specialist physicians, expanded intensive care services, comprehensive mental health care, enhanced geriatric services and accelerated efforts to attract qualified Turks and Caicos Islanders in the medical profession back home.

Parnell also presented ten questions for Government covering outstanding payments, borrowing plans, legal implications, transition arrangements and the future structure of healthcare delivery.

He said the changes now unfolding require decisive leadership, openness and a carefully managed transition that places patients, healthcare workers and the long-term interests of the Turks and Caicos Islands first.

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