The financial situation of Cricket West Indies (CWI) is much worse than previously thought, says newly elected president Ricky Skerritt.

Skerritt, who according to the Jamaica Observer Newspaper took over the post after defeating Dave Cameron in elections on March 24, has revealed that due to a lack of resources CWI has not been able to honour all of its financial obligations.

He said however, that the organisation was moving swiftly to address the problem.

When asked if consideration was being given for a forensic audit to be done on the handling of finances by the previous administration, the president would only say that a financial review was being done.

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