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In 2011 the Territory had its largest ever budget deficit, of US$29 million (approximately 2.6% of GDP). [7] By 2012 public debt had quadrupled from pre-crisis levels to approximately US$113 million (approximately 10.3% of GDP). [8] Nearly 84% of that public debt was attributable to a new public hospital built in Road Town between 2003 and 2014 ...
Tortola (/ t ɔːr ˈ t oʊ l ə /) is the largest and most populated island of the British Virgin Islands, a group of islands that form part of the archipelago of the Virgin Islands. [2] It has a surface area of 55.7 square kilometres (21.5 square miles) with a total population of 23,908, with 9,400 residents in Road Town .
The official currency of the British Virgin Islands has been the United States dollar (US$) since 1959, the currency also used by the United States Virgin Islands. [3] The British Virgin Islands enjoys one of the more prosperous economies of the Caribbean region, with a per capita average income of around $47,000 (2022 est.) [47]
Other associate members of the OECS do not use the Eastern Caribbean dollar as their official currency: the British Virgin Islands, Guadeloupe and Martinique. The British Virgin Islands were always problematic for currency purposes due to their proximity to the Danish West Indies, which became the United States Virgin Islands in 1917.
Sterling was the official currency but there was always a large circulation of Danish krone and later US dollars. When the British West Indies dollar was introduced to the British Virgin Islands in 1951 there were protests, and in 1961 the British Virgin Islands formally adopted the US dollar as its official currency.
United States dollar: USD: De Nederlandsche Bank (monetary authority) Federal Reserve Bank (U.S. dollar) float Cayman Islands: Cayman Islands dollar: KYD: Cayman Islands Monetary Authority: 1.00 KYD = 1.20 USD Cuba: Cuban peso: CUP: Central Bank of Cuba: 24.00 CUP = 1.00 USD Sint Maarten: Netherlands Antillean guilder [1] ANG: Central Bank of ...
The currency report said Japan was kept on the monitoring list because of its $65 billion trade surplus with the U.S. during the review period as well as an increase in its global current account ...
There are two categories of employers: "Class 1" and "Class 2" The payroll tax applies to all remunerations/salaries over US$10,000 per annum. [3] The currency of British Virgin island is US dollar (USD) which makes it easier to interact with the United States Virgin Islands and creates stability and ability to benefit from their reach and ...