Restoring Public Finances
A joint press release from the FCO Minister for Overseas Territories and the Premier of the Cayman Islands:
Foreign and Commonwealth Office Minister for the Overseas Territories Henry Bellingham MP today met the Premier of the Cayman Islands, the Hon. McKeeva Bush to discuss public finances in the Cayman Islands.
The Minister welcomed the positive action taken to date and commended the Cayman Islands Government on the measures proposed in their three year plan to restore public finances to a sustainable footing.
Commenting after the meeting, the Minister and Premier said: "We had an excellent meeting today which we believe will be the start of a new and positive partnership between the UK and the Cayman Islands. We have agreed in principle that the Cayman Islands Government can undertake additional borrowing next year. This agreement will help the Cayman Islands deliver its three year plan to deal with the impact of the global slowdown."