In a media teleconference from London on Wednesday, Anguilla’s Chief Minister, Osbourne Fleming, told reporters that unlike in July this year, the meeting between the Anguilla delegation and others with the UK Minister, Chris Bryant, was more cordial this week at the Overseas Territories Consultative Council conference.

He gave as one example the talks on the borrowing guidelines with the Anguilla delegation when Mr. Bryant was unmovable about their relaxation in order for the Anguilla Government and other territories to borrow money to help meet their financial and economic problems.

UK Minister Chris Bryant with Overseas Territories Leaders

He said that this time it had now been agreed that the current system of borrowing guidelines would be revisited and revised. Mr. Fleming quoted Mr. Bryant as saying that the British Government was “not in the business of micro-managing the Overseas Territories, but they have a responsibility.”

“Anguilla wanted to know exactly what the British Government meant about contingent liabilities but, to be honest, he himself could not give an answer to that,” the Chief Minister reported, referring to the discussions with Mr. Bryant. That phrase arose many times in discussions with British officials who have stated that the UK Government was not in favour of excessive borrowing as the responsibility for repayment might fall on Britain if Anguilla, or any other Overseas Territory, was unable to pay back borrowed money.

“We believe that all in all we have set the framework in order to pursue with our borrowing and also look at our financial markets and so on,” Chief Minister Fleming went on. “The Minister also assured us that the British Government will never stand in our way, nor would they stand by and see us go down…They promised to be around [but] God knows to what limit.”

Chief Minister Fleming of Anguilla (left) signing document

The Chief Minister recalled that many years ago Anguilla benefitted much from project financing from the Department for International Development, an arm of the British Government. He said he took the opportunity to meet with officials of that department and to ask them whether they could provide some financial assistance to Anguilla taking into consideration that the island had been off grant aid for a long time. Mr. Fleming disclosed that he mentioned the need for financing for a new prison, but told the reporters that “in no uncertain terms would they (the DFID Officials), agree because they have seen that we are in a category now where we can help ourselves.” He added that the need for a new prison was a matter that the Anguilla Government was obliged to address in its own time.
Minister of Finance, Victor Banks, joined the Chief Minister in saying he believed that there was some agreement that something needed to be done about the borrowing guidelines. “The British Government agreed with the Minister to revisit this area and there will be a lot of discussions on this going forward,” he commented.

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