Lorna G. Smith Appointed as Territory’s First Minister of State

Hon. Lorna G. Smith, OBE, has been appointed as the Virgin Islands’ first Minister of State for Financial Services and Economic Development, marking her return to government after her dismissal in October 2024. The announcement was made by Premier Hon. Natalio Wheatley in a special statement, stressed the need for experienced leadership amid global economic uncertainty.

“These are strange and uncertain times, and we need all hands on deck to manage the global economic headwinds ahead of us,” Premier Wheatley said. “Hon. Smith’s invaluable support during my recent mission to Asia and the international respect she commands in the field of financial services clearly demonstrated that her experience would be best utilized as a member of the Government.”

Smith’s new role comes with significant responsibilities, including oversight of financial services, domestic banking, economic diversification, investment promotion, trade, and consumer affairs. Additionally, she will work closely with foreign governments, international organisations, and stakeholders to ensure the Virgin Islands’ economy remains strong. She will also have direct oversight of the Financial Services Commission, the International Tax Authority, BVI Finance, and the Department of Trade and Investment Promotion.

Smith’s return to government comes just over four months after her abrupt dismissal from her previous role as Deputy Premier and Minister of Financial Services, Labour, and Trade. At the time, Premier Wheatley cited concerns over political stability, stating, “She did not give me the confidence that she would remain with my administration for the duration of this term.”

Her removal was met with speculation about her political future, especially after she denied reports in early February that she was in discussions to rejoin the Virgin Islands Party (VIP). “It is not true. I continue to serve the people of this territory to the best of my ability as an independent member of the Opposition to date,” Smith said at the time.

Despite this, her return to government signals a shift in political dynamics. Premier Wheatley, in his announcement, acknowledged her expertise as a key asset to his administration. “I am personally pleased to have her back and to have her support,” he said, noting that her new position as Minister of State is a senior role, reflecting her experience and reinforcing her authority when dealing with external stakeholders.

As Smith assumes her new responsibilities, Karl Dawson, the outgoing Junior Minister for Agriculture and Fisheries, will step down from his ministerial role but continue as Deputy Speaker of the House of Assembly. Wheatley praised Dawson for his contributions, stating, “I commend him for his dedication and commitment to our farmers and fisherfolk.”

Smith’s appointment comes at a critical time for the territory as the government navigates economic challenges, including potential global financial shifts and the impact of international tariffs. In light of these concerns, Premier Wheatley emphasised the importance of a strong economic leadership team. “We will work very closely together to ensure consistency and cohesion of government policy,” he said.

With her extensive background in financial services and economic development, Smith is expected to play a pivotal role in steering the Virgin Islands’ economy toward resilience and growth.