The Cayman Islands' Balance of Payments Report 2010

"The Cayman Islands’ Balance of Payments (Current Account) Report 2010 which presents the balances"

The Cayman Islands’ Balance of Payments (Current Account) Report 2010 which presents the balances of payments by the country’s residents with the rest of the world for goods and services, income and transfers was released today.

Data from the Report is used largely by credit rating agencies and creditors and foreign investors as general indicators of the country’s ability to service its foreign debt.

The Honorable Premier and Minister for Finance, Tourism and Development Mr. McKeeva Bush notes, ⫿Although the overall current account balance was in deficit in 2010, this was lower compared to 2009. It fell by $11.9 million to CI$408.2 million in 2010.???

The lower current account deficit in 2010 was largely due to the increase in the overall surplus from services by $9.9 million.

⫿There was an increase in receipts from travel, insurance and financial services, highlighting anew the importance of the financial and tourism services to the Cayman Islands’ economy,??? the Premier further noted. Subscribe