Preparing for a legislative onslaught

British Virgin Islands: Sailing through turbulent waters: May 2009


The British Virgin Islands (BVI), with a population of under 25,000, relies heavily on financial services and tourism to fuel its economy. Both sectors are exposed to a prolonged global recession. Any measures that artificially restrict the flow of financial business to the BVI could be a severe blow to its economy.

BVI financial secretary Neil Smith is keeping a cool head as he ponders the government’s response to the global financial crisis. “The economy is already shrinking. What is not clear