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The
Cayman Islands were colonized from Jamaica by the British during the 18th
and 19th centuries. Administered by Jamaica from 1863, they remained a
British dependency after 1962 when the former became independent. The
Cayman Islands remained largely uninhabited until the 17th century. A
variety of people settled on the islands, including pirates, refugees from
the Spanish Inquisition, shipwrecked sailors, deserters from Oliver
Cromwell's army in Jamaica, and slaves.
ECONOMY
Although Caymanians enjoy one of the highest standards of living in the
world, about 90% of the islands' food and consumer goods must be imported.
Education is compulsory to the age of 16 and is free to all Caymanian
children. Schools follow the British educational system. Ten primary, one
special education, and three high schools are operated by the government.
In addition, there is a technical school, a law school, and a community
college.
U.S.-CAYMANIAN RELATIONS
Although the United Kingdom is responsible for the Cayman Islands' defense
and foreign affairs, important bilateral issues are often resolved by
negotiations between the Cayman Government and foreign governments,
including the United States.
For U.S. and other foreign investors and businesses, the Cayman
Islands' main appeal as a financial center is the absence of all major
direct taxes, free capital movement, a minimum of government regulations,
and a well-developed financial infrastructure. The Cayman Islands is the
world's fifth-largest financial center.
Area: 100 sq miles (260 sq km)
Population: 39,335
Capital city: George Town on Grand Cayman (pop 16,000)
People: Mixed African and European descent
Language: English
Religion: United Church, Anglican, Baptist, Roman Catholic
Government: British dependency
GDP: US$930 million
GDP per head: US$24,500
Inflation: 2.7%
Major industries: Tourism, banking, insurance and finance
Major trading partners: USA, UK, Netherlands Antilles, Trinidad and
Tobago, Japan |