Governor Dileeni Daniel-Selvaratnam told Parliament on September 8, 2026 that the Turks and Caicos Islands' $350 million borrowing plan will face public oversight, as the territory departs from 13 years of debt-free status to fund infrastructure.
The money will go to healthcare sustainability, affordable housing and serviced land, roads and resilience, waste management and public accommodation, while operational spending stays balanced and separate from capital financing. Premier and Minister for Finance, Economic Development, Investment and Trade Charles Washington Misick said the territory holds an A- sovereign credit rating with a positive outlook, no public debt and roughly US$430 million in cash reserves, about 23% of GDP as of mid-2025. "Borrowing will only be used for capital transformation," the Governor said.
Next, the debt adviser's terms return to Cabinet. Governor Daniel-Selvaratnam said borrowing must remain affordable, stay within projected surpluses, preserve strong cash balances and prudent debt-service ratios, and sit within local statutory ceilings and the UK's fiscal framework. Premier Misick first set out the borrowing plan in the US$550 million Budget for the 2026/2027 financial year on April 2, 2026.