Government House Clarifies Concerns Regarding WAPA Debt Restructuring - Government of the United States Virgin Islands

Government House Clarifies Concerns Regarding WAPA Debt Restructuring - Government of the United States Virgin Islands

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Government House Clarifies Concerns Regarding WAPA Debt Restructuring

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												September 20					

U.S. VIRGIN ISLANDS–Governor Albert Bryan Jr, issued the following statement Thursday clarifying concerns regarding the debt of the Virgin Islands Water and Power Authority:

“It has come to our attention that a recent statement made by Office of Management and Budget Director Jenifer O’Neal during a hearing at the Virgin Islands Legislature may have been misconstrued.

“The Virgin Islands Government remains steadfast in assuring the Water and Power Authority remains solvent and that it pays off its current and future debt in full. 

“We realize that the financial viability of the Virgin Islands government is tied to the solvency of WAPA; therefore, we have a vested interest in ensuring that they develop viable solutions to their fiscal challenges. This includes identifying opportunities to refinance their debt and take other measures that ultimately result in increased affordability to the ratepayers.”

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