Henry Bellingham, Minister for the Overseas Territories, met McKeeva Bush, Premier of the Cayman Islands, 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.’