Originally published in The Fort Street Journal Newsletter, September 2002
If you believed all the doomsayers and gloom merchants two years ago, when the offshore world was reeling under a bombardment of international initiatives, you may be surprised how things have turned out for the Cayman Islands.
Earlier this month, Moody’s Investor Service released its annual report on the Cayman Islands. The highly respected rating organisation maintained the country’s Aa3 foreign currency country ceiling and described the outlook for the Cayman Islands as stable, despite the disturbances to the economy caused by September 11 and the U.S. recession, and thanks, it said, to a large and diverse offshore financial services industry.
