BBC reports on Cayman Islands fears as debts grow

| 24/09/2009

(BBC): As the G20 nations prepare for their meetings in Pittsburgh, the consequences of one of their campaigns, against offshore tax havens, is leading to a stand-off between Britain and some of its overseas territories. At around the same time as the world’s most powerful leaders gather in the US, the head of one of the world’s smallest nations, the Cayman Islands, will address his people to tell them how he intends to solve their financial worries. Such is the depth of their problems that the Cayman Islands face having a major construction project frozen this week as they have not paid the contractor.


Go to article (and listen to the audiopod)

Print Friendly, PDF & Email

Category: Business

About the Author ()

Comments (16)

Trackback URL | Comments RSS Feed

  1. NHB says:

    We can look at this two ways we have England telling us that we cant borrow money and we have to raise taxes but the reason we are in the mess is because of England and McKeeva blabbing his mouth of our situation but if I understand this situtation the projects we are building are capital projects namely roads and schools these are projects years ago the UK was expected to fund as there responsibilty and they actualy lent us funds to do them in the past so now they are washing there hands and trying to force us into crash along with there reprsentive talking in washingthon of those tax havens taking them out in the future unless they fall in line, the way I look at it is we shouldn’t have fallen in line until we were rewarded for doing so, because even after we have done all that was required we still get kicked in the mouth

    If we have never considered independance before now migth be the time to so long we are allowed 1 man one vote and use common sense as to not allow this unorganized bunch to run us again been both the PPM and the UDP and start looking amoung ourselves for leaders, we need to be planning our future as to who and how to manage this country what we need and don’t need, not worrying about how to pay for a bunch of schools that like all other buildings u can stop once the blocks are in place they don’t spoil and do at a more proper time in the future.





  2. Anonymous says:

    Think its time for a carnival weekend.  All vendors attend to your stalls, good food, local musicians come out and play some good tunes and lets all have a good time.  Five dollars every resident.  Then lets see if the BBC prints headlines ‘Cayman carnivals through the crisis’!  Way to go, keep the heads up, keep cool and smile brightly! Happy Friday Cayman!

  3. Anonymous says:

    McKeeva you just could not lie low for a few month until the recession blew over, you had to be agressive just to get your political agenda onboard.  you knew what England was after.  You knew that England wanted to destroy our Financial Industry, because they wanted our business, but you went and played right into their hands.  You were so bent on blaming the PPM Government for this downhill slide, you forgot to check on Mother and HER agenda.  By the way McKeeva, the biggest reason for this Financial mess WAS your status Grants, so just stop the political postering and admit to the truth.  The reason for the schools, the reason why Government grew so much, the reason why Social Services is stretched, the reason why unemployment is so high, the reason why Cayman Airways is in the mess it is in and the list go on and on. It is ALL because of the status grants and partially because of the recession.  You are making our situation worse than it REALLY is, because you wants to bring in your Casinoes, Mega Yatch, Lottery, docks and everything else that is Illegal, but profitable for you and your rich people.  McKeeva PLEASE stop the blame game and get on with YOUR job.  YOUR people first, complete the projects, send home the status recipitents that are NOT working, scale back the foreign workers that are not a asset to these Islands and put your agenda on the backburner for now….and shut up YOUR BIG mouth to the foreign Press.  You are killing us man!!!

    • Anonymous says:

      Also, the parade of lights is returning after five years, why is this being held at Caymana Bay and not downtown as it used to be?  What about revenue from this for businesses in town? Whose pockets are we filling again!

    • Anonymous says:

      agree with you the status grants is why we need more of every thing common sense greater population the need for more schools,more roads which he didnt consider. 

  4. Anonymous says:

    I am glad that at least there are some who are able to see past the smoke screen and understand that much of what is happening to us is in fact our own doing.  We (or our leaders) made stupid choices – and continue to do so by the way! No one is to blame but us because we are the ones who played in GB’s hands.

    It is also good to know that some of you recognise the role the current LoGB has played in getting us in this position by airing our dirty linens in public and frightening folks he has dug us in even further!

  5. Anonymous says:

    You talk about wanting a new LoGB, hope its not Kurt Tibbetts you want!!!! I can’t imagine what would be happening right about now if PPM was still in power. Alden is suppose to be educated but someone needs to give him some lessons on  how to manage his anger. Once that is under control, thenmaybe he could be of some use.

  6. Anonymous1 says:

    Dumb you say, let me tell you what is dumb, we Caymanians taking the bullshit that England  crams down our throat, dont you see through this post on the BBc that they are staging our downfall, do you beleive that all of this crime is caymanian driven, no my friend your mother ******* country England have spun a good one on us and we are left holding the bag. I agree with you that Mac need to cool his heels on all this broadcasting about our plight but dont blame it all on Mac and the UDP or PPM. Give the blame where it should go. England is a cruel evil boss.Sorry my few brittish friends you proabally feel as I do since you know the way they are too, for all the tea in China I would not give too hoots for her.

    • Tally Ho says:

      Try writing intelligibly.

      "Dumb you say? Let me tell you what is dumb, we Caymanians taking the bullshit that England crams down our throat. Don’t you see through this post on the BBC that they are staging our downfall? Do you believe that all of this crime is Caymanian driven? No my friend, your mother ******* country England has spun a good one on us and we are left holding the bag. I agree with you that Mac needs to cool his heels on all this broadcasting about our plight but don’t blame it all on Mac and the UDP or PPM. Give the blame where it should go. England is a cruel, evil boss. Sorry my few British friends, you probably feel as I do since you know the way she is too.   For all the tea in China, I would not give two hoots for her."

      Try to spot the corrections.  There are many for you to find.  What fun.

      • Dont4getMe says:

        How lame are you to troll message boards correcting peoples’ spellin an grammatical erras – yes the errors are intentional. 

        It is 100% correct that our problems shouldn’t be thrown out on a very public international forum as our primary income generators are dependent entirely on the international view of these islands. Not only have we nothing to fall back on as an income driver but it was totally unprofessional. And to panic like that and run to tell the world we’re falling apart, he needs to get a pair and show he’s truly worthy of a five figure per month salary.

        The blame I must say, lies within our shores and not the UK.  It’s our own fault for not holding the government responsible and accountable for their actions. They did not gain office by force, we elected them all so we should also monitor and ensure their actions are in the best interest of all people (or at least a majority) living here.


        Only choice now is to accept we’re in one hell of a situation and work on getting out of this hole. I do believe an income tax to be the best means of sustainable income for the gov’t. Can the nation really afford not to? The repercussions have all been discussed and people won’t be happy but one way or another we have to face the music.


  7. Anonymous says:

    Someone said McDinejad earlier….very appropriate !!!

    • anonymous says:

      yea but don’t foget KURT MUGABE………………………………..

  8. Anonymous says:

    I was taught that we should respect our elders but the behaviour of my government is just too much. Washing Cayman’s dirty laundry in public, and on the international stage no less – that was dumb McHomer – just plain stupid. Way to build investor confidence and to build a future for Caymanians. Can we get a new LOGB please… pretty please on my knees?