Topic: Framework for Fiscal Responsibility
Budget: Debt increases but remains within fiscal framework
Cayman's public finances will remain within the Framework for Fiscal Responsibility, yet the cost of servicing public debt will jump in 2027.
‘Hiring freeze’ in force as government looks to cut spending
Government is implementing a hiring freeze on all non-essential positions amid projections it will run out of cash by the end of the year.
Moody’s reaffirms Cayman’s Aa3 ratings
International credit rating agency Moody’s has maintained the Cayman Islands Government’s Aa3 bond issuer rating, Aaa country ceiling rating, and a ‘stable’ economic outlook...
Cayman should have more power over its finances, says premier
Premier Juliana O’Connor Connolly has called for Cayman to break free of the "economic handcuffs" imposed by the UK and be given more control over its own finances.
Panton seeks change to government borrowing limits set by UK
Premier Wayne Panton has approached the United Kingdom to make changes to the existing borrowing limits set out in the Framework for Fiscal Responsibility to assist Cayman with climate change related challenges.
Premier orders cost cutting as government spending nears $1 billion
Premier and Finance Minister Wayne Panton has implemented cost cutting measures across the civil service with government expenditures are set to surpass the billion dollar mark for 2023.
Landfill deal dubbed ‘unaffordable’ as costs escalate
A plan to replace Cayman’s landfill site with a suite of waste-to-energy and recycling facilities had snowballed into an ‘unaffordable deal’ that risks ‘bankrupting’ the country, former Finance Minister Chris Saunders has claimed.
EDITORIAL — The power of Cayman and Brexit: Who knew?
If someone wants to make Cayman a power broker in international negotiations, we will gladly step up to the role. In the meantime, do not begrudge us our country’s small but vital chance to make our voices heard.
Cayman in talks with UK on borrowing rules
While it has helped drive down Cayman’s national debt over the past three years, a financial management agreement between the Cayman Islands and U.K. governments has delayed major public projects and may also delay repayment of further debts, Finance Minister Marco Archer said this week.
EDITORIAL – Minister Archer on target with public debt
Because of Finance Minister Marco Archer’s attempts to guide the Cayman Islands government out of debt, local taxpayers have accumulated a new kind of debt — of gratitude.
UK minister warns of looming US$312M debt
While congratulating Cayman’s government on the accumulation of big cash reserves by December 2015, Britain’s overseas territories minister has warned Cayman of another massive financial commitment looming within what will be the next administration’s term in office.
Government passes UK cash test, one more hurdle remains
The Cayman Islands has more than enough operating cash in the bank, according to U.K. officials who are evaluating whether the government will return to local budget autonomy ahead of the next fiscal year which begins in July.
Cayman’s economic growth slows
The Cayman economy grew an estimated 1.6 percent in the first three quarters of 2015, down from 2.4 percent for the same period in 2014, according to a new report from the Economics and Statistics Office.
