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additional infrastructure requirements.]
It had been hoped that
a proposed aragonite project would provide additional revenue but this appears to have fallen through.
Future Prospects and Action
2.
Even before the recent corruption scandals, which have set back the independence movement by several years, the TCI was some way from being granted independence. An unsuccessful attempt was made to strike a deal in 1979 with the party in power which, in
return for certain aid concessions, agreed to campaign for independence at the 1980 general election. But it reneged on the
agreement when it was seen to be electorally unpopular.
Economically too, despite the success of the Club Med project, the islands are not yet sufficiently secure to feel confident
about independence. After a period of retrenchment, and the
hoped for restoration of good government following the report of
the Constitutional Commission (now expected in late 1986), there
is reason to expect that TCI would respond to a programme of the sort described in paras 26 and 28; and that with further economic
diversification might be ready to seek independence by the year
2000. [? Costs].
CAYMAN ISLANDS
General
Main Imports
Total Imports (1982)
Main Foreign Exchange
Earners
Total Foreign Exchange Earnings
Main Industries
w
-
Foodstuffs, beverages, petroleum
- $132m
- Tourism, service and financial
operations, turtle products
- [ ]
See foreign exchange earners, plus
real estate/construction
Economic
1. The islands have one of the highest standards of living in the Caribbean. The economy, based on tourism and its position since
1966 as a tax haven, attracting the registration of over 17,500
companies, has remained buoyant even during the recent recession.
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