Cabinet Appoints Economic Advisory Council
The Cabinet has approved a new two-year Economic and Fiscal Advisory Council to advise the government on economic and fiscal matters. Businessman Meade Malone will chair the council, which includes public and private sector figures and will have the Financial Secretary and Director of the Central Statistics Office as ex officio members.
The Cabinet has formally established an Economic and Fiscal Advisory Council to provide expert guidance on the British Virgin Islands' economic and fiscal affairs. The decision was taken at a Cabinet meeting on September 17 chaired by Governor Daniel Pruce. The council carries a two-year mandate and will be chaired by businessman Meade Malone, with Glenroy Forbes serving as vice chairman.
Other appointed members are Dion Stoutt, Patlian Johnson, Jennifer Potter, Lawrence Wheatley, Sendrick Chinnery, Roger Mathavious, Russell Harrigan and Michael Thomas. The Financial Secretary and the Director of the Central Statistics Office will serve ex officio. Cabinet also approved the council’s Terms of Reference, but those documents have not been made public.
According to the government announcement, the council’s role is to advise on economic and fiscal matters and to provide strategic input into policy planning and the development of the national economy. The body is expected to support evidence-based decision-making and help improve planning across key sectors.
The move revives a model used in 2020 when then-Premier Andrew Fahie established an Economic Advisory Council to support recovery and diversification following the twin shocks of the pandemic and hurricane impacts. That earlier council was described at the time as a non-constitutional, independent advisory body and included Bishop John Cline as chair along with members drawn from financial services, tourism and business.
Meade Malone served on that council and now returns as chair of the newly constituted body. Opposition Leader Myron Walwyn had earlier this year renewed calls for an economic council, noting that the Public Finance Management Act requires an economic plan and an economic council. His appeal reflected wider calls from business and civic leaders for stronger and more formalised economic advice to government.
For BVI residents, the re-establishment of this council signals a renewed government effort to strengthen fiscal oversight and long-term economic planning. Observers say the council could influence budget priorities, measures to bolster tourism and financial services, and initiatives aimed at job creation and resilience.
With economic pressures continuing, the council’s recommendations may play an important role in shaping policy ahead of future budgets and development plans.
Primary source: BVI News