{"id":2718,"date":"2022-03-28T09:44:39","date_gmt":"2022-03-28T13:44:39","guid":{"rendered":"https:\/\/craftedcaribbean.com\/caricris\/?p=2718"},"modified":"2025-07-01T09:47:35","modified_gmt":"2025-07-01T13:47:35","slug":"government-of-the-british-virgin-islands","status":"publish","type":"post","link":"https:\/\/craftedcaribbean.com\/caricris\/rating-releases\/government-of-the-british-virgin-islands\/","title":{"rendered":"Government of the British Virgin Islands"},"content":{"rendered":"<p>RATING DRIVERS<\/p>\n<p class=\"badge\">\u00a0Strengths<\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Continued support from the United Kingdom as an Overseas Territory<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Income and economic fundamentals create high GDP per capita, though tempered by COVID-19<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Dollarization has supported strong economic fundamentals and trade stability<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Prudent fiscal policy guided by the PEFM resulting in low debt levels<\/span><\/li>\n<\/ul>\n<p class=\"badge\"><strong class=\"badge\">Weaknesses<\/strong><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Human resource capacity constraints on account of a small population base<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Lack of monitoring of the external sector may hinder targeted policymaking<\/span><\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline; font-family: 'book antiqua', palatino;\"><strong>Rating Sensitivity Factors\u00a0 <\/strong><\/span><\/p>\n<p><strong><span style=\"text-decoration: underline; font-family: 'book antiqua', palatino;\">Factors that could lead to an improvement in the ratings and\/ or Outlook include<\/span>:<\/strong><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Real GDP growth of at least 5% sustained over the next 2 years<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A sustained improvement in visitor arrivals to greater than pre-hurricane levels over the next 2 years<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">Continued improvement in company incorporations and registrations to greater than 25% above pre-pandemic revenues sustained over 2 years<\/span><\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><strong><span style=\"font-family: 'book antiqua', palatino;\">Factors that could lead to a lowering of the ratings and\/ or Outlook include:<\/span><\/strong><\/span><\/p>\n<ul style=\"list-style-type: square;\">\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">An increase in the total public sector debt to above 40% of GDP<\/span><\/li>\n<li data-mce-word-list=\"1\"><span style=\"font-family: 'book antiqua', palatino;\">A change in the island\u2019s status as a British overseas territory or a material change in the level of support rendered to the VI from the UK<\/span><\/li>\n<\/ul>\n<p><span style=\"text-decoration: underline;\"><strong><span style=\"font-family: 'book antiqua', palatino;\">SOVEREIGN BACKGROUND<\/span><\/strong><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">The Virgin Islands (VI) is a British Overseas Territory located in the Caribbean. The 150 km<sup>2<\/sup> (58 mi<sup>2<\/sup>) Territory consists of the main islands of Tortola, Virgin Gorda, Anegada, and Jost Van Dyke, along with over 50 other smaller islands and cays. About 15 of the islands are inhabited. The VI operates as a parliamentary democracy with its own constitution and an elected Head of Government, named the Premier of the VI. Ultimate executive authority in the VI is vested in the Queen of England and is exercised on her behalf by the Governor of the VI. The Governor is appointed by the Queen on the advice of the British Government. Defence and foreign affairs are the responsibility of the United Kingdom (UK).<\/span><\/p>\n<p><em>A<span style=\"font-family: 'book antiqua', palatino;\">nalytical Contacts:<\/span><\/em><\/p>\n<h5><\/h5>\n<h5><strong><span style=\"font-family: 'book antiqua', palatino;\">Kyla Balwant<\/span><\/strong><\/h5>\n<h5><span style=\"font-family: 'book antiqua', palatino;\"><em>Tel: 1-868-627-8879<\/em><\/span><\/h5>\n<h5><span style=\"font-family: 'book antiqua', palatino;\"><em>E-mail: <\/em><em><a href=\"mailto:kbalwant@caricris.com\">kbalwant@caricris.com<\/a><\/em><\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino;\"><strong><em>\u00a0<\/em><\/strong><\/span><span style=\"font-family: 'book antiqua', palatino;\"><strong>Stefan Fortun\u00e9<\/strong><\/span><\/p>\n<h5><span style=\"font-family: 'book antiqua', palatino;\"><em>Tel: 1-868-627-8879 Ext. 228<\/em><\/span><\/h5>\n<h5><span style=\"font-family: 'book antiqua', palatino;\"><em>E-mail <\/em><em><a href=\"mailto:sfortune@caricris.com\">sfortune@caricris.com<\/a><\/em><\/span><\/h5>\n<p><span style=\"font-family: 'book antiqua', palatino;\">Website: <a href=\"http:\/\/www.caricris.com\">www.caricris.com<\/a><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino;\">Email: <a href=\"mailto:info@caricris.com\">info@caricris.com<\/a><\/span><\/p>\n<p><span style=\"font-family: 'book antiqua', palatino; font-size: 8pt;\">Disclaimer: CariCRIS has taken due care and caution in compilation of data for this product. Information has been obtained by CariCRIS from sources which it considers reliable. However, CariCRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. No part of this report may be published \/ reproduced in any form without CariCRIS\u2019 prior written approval. CariCRIS is also not responsible for any errors in transmission and especially states that it has no financial liability whatsoever to the subscribers\/ users\/ transmitters\/ distributors of this product.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>RATING DRIVERS \u00a0Strengths Continued support from the United Kingdom as an Overseas Territory Income and economic fundamentals create high GDP per capita, though tempered by COVID-19 Dollarization has supported strong economic fundamentals and trade stability Prudent fiscal policy guided by the PEFM resulting in low debt levels Weaknesses Human resource capacity constraints on account of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[46],"tags":[],"table_tags":[],"class_list":["post-2718","post","type-post","status-publish","format-standard","hentry","category-rating-releases"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - 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