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Gov’t not cutting loan to replace bond

Gov’t not cutting loan to replace bond

| 17/09/2019 | 49 Comments

(CNS): Government is seeking bids from local banks for a loan of CI$153 million to plug a hole that will be created in its cash flow after it pays off a CI$261 million bullet bond due in November. During the scrutiny of the 2018/2019 budget the finance ministry received approval from the Legislative Assembly to […]

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CIG to cut proposed loan for bond pay-off

CIG to cut proposed loan for bond pay-off

| 19/08/2019 | 28 Comments

(CNS): The Cayman Islands Government has confirmed that it will meet the bond payment of US$312 million (approximately CI$261.3 million) that is due to be repaid on 24 November this year and may not need to borrow as much as previously anticipated to pay off that bond and still maintain its cash flow obligations. As […]

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CIG surplus surges to $200M

CIG surplus surges to $200M

| 12/08/2019 | 57 Comments

(CNS): Domestic levies on goods and services, such as bank licences and accommodation tax, has led to a much larger surplus than government had anticipated at the halfway point for 2019. The latest audited accounts from government show that the public purse took in 65% more than previously budgeted, resulting in another boost to the […]

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Gov’t secures extra $1.6M cash for home repairs

Gov’t secures extra $1.6M cash for home repairs

| 10/06/2019 | 19 Comments

(CNS): Government voted another CI$1.66 million for spending largely on home repairs for the most vulnerable. But given the significant surplus the public purse is expected to have at the end the year, there should be no negative impacts, Finance Minister Roy McTaggart told his colleagues at the relevant committee hearing Friday. The money was […]

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Audit was at ‘challenging time’ says Customs

Audit was at ‘challenging time’ says Customs

| 07/06/2019 | 29 Comments

(CNS): The Customs and Border Control Agency has responded to an audit report of its predecessor, the Customs Department, which was made public Thursday. The CBC noted that it was undertaken at a “particularly challenging time”, when the staff were in the middle of a number of new initiatives, including the roll-out of a new […]

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Auditor finds customs falling short

Auditor finds customs falling short

| 07/06/2019 | 22 Comments

(CNS): Although customs is responsible for collecting around $165 million per year in duties, fees and fines, amounting to over 20% of government revenue, the auditor general found a number of shortcomings at the unit, including a lack of any plans and a failure to manage duty waivers. In her latest report, based on an […]

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Government coffers overflowing

Government coffers overflowing

| 13/05/2019 | 43 Comments

(CNS): The Cayman Islands Government appears to be on track for another year of significant earnings, with the public purse bursting at the seams, according to the unaudited financial results for the first quarter of this year. Figures released by the finance ministry reveal that, following news that government collected a whopping CI$830 million in […]

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Hospital gets clean audit for first time

Hospital gets clean audit for first time

| 07/05/2019 | 12 Comments

(CNS): After almost fifteen years of trying, the Cayman Islands Health Services Authority has finally received an unqualified audit opinion from the auditor general for its 2018 financial statements. The report is not yet available to the public, and in a press release celebrating its first ever clean audit since at least 2005, when the […]

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Miller urges medical debt write-off for over 60s

Miller urges medical debt write-off for over 60s

| 01/05/2019 | 44 Comments

(CNS): Ezzard Miller, the representative for North Side, is calling on the Government of National Unity to write off medical debts for Caymanians over 60 on low incomes. Speaking on behalf of his own constituents, he asked government to extend the generosity it has shown to indebted drivers over vehicle licences to elderly members of […]

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Miller rails against licence fees waiver

Miller rails against licence fees waiver

| 29/04/2019 | 67 Comments

(CNS): Opposition Leader Ezzard Miller has taken aim at the government for waiving what could be more than $6 million in outstanding vehicle registration fees owed to the public purse. He said the amnesty was “beyond unacceptable” when at the same time the Government of National Unity had engaged lawyers to pursue sick and elderly […]

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Public pension liability ‘not cause for alarm’

Public pension liability ‘not cause for alarm’

| 23/04/2019 | 32 Comments

(CNS): Finance and Economics Minister Roy McTaggart has said that the historic liability in the public pension funds will be met, so the current $197.2 million deficiency is “not a cause for alarm”. As the minister presented the latest actuarial reports for these plans to the Legislative Assembly earlier this month, he said the liability […]

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For a couple of hours on Wednesday afternoon this site reverted to a day in March. We believe that this issue has now been permanently fixed. To all our readers who landed on our site during that time, we apologise for the confusion.