Moody's praises Cayman's prudent economic policies
Moody's praises Cayman's prudent economic policies
Source: tax-news.com
Ratings agency Moody's Investor Services has issued its annual report on the Cayman Islands which has attributed the nation's Aa3 rating to its resilient tourist sector, high per capita income and prudent economic policy framework. Moody's noted the cooperative response of the Caymanian authorities with regard to US and EU concerns on money laundering through its offshore banking sector and the ratings agency also reported a similarly satisfactory result in response to the OECD initiatives on tax issues. The report also observed the Caribbean jurisdiction's strong and flexible regulatory framework, stable political system, favourable social indicators and an encouraging external debt situation.