Topic: national debt

The Cayman Islands will receive permission to pay off $8 million to $12 million of its national debt ahead of schedule if changes proposed to the government’s financial management law are approved next month.

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.