Government House issued statement on WAPA debt restructuring concerns

Government House issued a statement on Sept. 19, 2019, addressing concerns about the Virgin Islands Water and Power Authority's debt after remarks by Office of Management and Budget Director Jenifer O’Neal at a Legislature hearing.

The statement said O’Neal’s comments may have been misconstrued and said the Virgin Islands government remained committed to ensuring WAPA remained solvent and paid its current and future debt in full.

Government House also said the government viewed its own financial viability as tied to WAPA’s solvency and said it supported efforts to identify refinancing opportunities and other measures aimed at improving affordability for ratepayers.

Official source: https://www.vi.gov/government-house-clarifies-concerns-regarding-wapa-debt-restructuring/