Topic: debt
Analysis: 10 key announcements from government’s budget
The Cayman Islands government has unveiled a $2 billion two-year budget and outlined an additional $270 million in planned capital spending over the same period.
As part of our Cayman Compass budget briefing we look at 10 key proposals contained in the policy speeches and documents.
Digicel files for US bankruptcy protection
Telecommunications provider Digicel has filed for Chapter 15 recognition in a federal bankruptcy court in the Southern District of New York after it was granted an application for provisional liquidation in Bermuda.
Mitchell: The real reason red ink keeps rising
If the burden of government spending is growing faster than the private sector, that is a very worrisome trend. In the long run, it leads to fiscal crisis.
A deeper understanding of global debt
The scary-sounding global debt numbers were a bit of a publicity stunt; they got our attention, even if they were intellectually misleading.
Government plans to shed half of public debt in 3 years
The Cayman Islands government plans to pay off more than half of its existing $500 million public debt within the next three years, according to budget documents released last week.
HSA hiring debt collector to go after $58M from patients
The Cayman Islands Health Services Authority plans to hire a debt collector to go after $58 million in past-due accounts from patients. The debts range from those a couple of months old to some more than three years old, the latter involving some $32 million that has not been paid.
HSA promises ‘clean accounts’ by 2018
The Cayman Islands Health Services Authority has pledged to report “clean” financial statements by 2018, after receiving a tongue-lashing from Public Accounts Committee Chairman Ezzard Miller this week.
Cayman seeks one-time $261M debt payoff
Although the deadline for payment is still more than three years away, Cayman’s government is projecting that it will be able to pay off a US$312 million [CI$261 million] loan all at once at the time it becomes due in November 2019.
EDITORIAL – The curious case of the ‘$233 arrest’ at the airport
A "soccer mom" visiting the Cayman Islands was arrested and forced to spend the night in police custody ... over a disputed debt of $233. That’s not the sort of tale that supports our “Caymankind" tourism moniker.
Cayman must save for $1.18 billion in health liabilities
To stay with business as usual (i.e. without massive tax increases), we would need to be setting aside $123 million each and every year to pay the estimated $1.18 billion in public healthcare liabilities.
Bloomberg: Argentina’s lessons
Before Argentina’s debt crisis is resolved – and prospects have been looking better lately – it’s worth pausing to ask why the stalemate has lasted so long. (More than a decade, but who’s counting?)
