Growth slows to 2.4% as Auditor General flags $172.5M in corrections
First-quarter GDP growth eased on a slowing financial sector, while the Auditor General warned over persistent weaknesses in public accounts.
Two sets of official numbers framed the day. The Cayman Compass reports that economic growth slowed to 2.4% between January and March 2026, down from 2.9% a year earlier, with a slowing financial sector cited as the cause. Separately, Cayman News Service reports that while government largely received clean audit opinions on its 2025 financials, Auditor General Patrick Smith identified more than $172.5 million in corrections and weaknesses that public bodies are not fixing. The Caymanian Times carries the same call for stronger financial management. On the regulatory side, the Caymanian Times notes CIMA's Financial Stability Report 2024–2025 points to resilience in the local financial system while flagging emerging risks.
Governance questions centred on a property deal. Cayman Marl Road reports that Premier André Ebanks has asked the Attorney General to consider whether the government's CI$6.5 million purchase of the Kiddiewinks preschool in West Bay should be referred to the Governor. CNS reports Deputy Opposition Leader Kenneth Bryan has called for the Governor to intervene. On energy, CNS reports the Premier said he would still prefer a full conversion to renewables despite recently raising LNG as a route to lower power bills.
In policy and professional services: the Cayman Independent reports stakeholder consultations on permanent residency reform are expected soon, with opposition members criticising the timeline. The Ministry of Health has opened consultation on revised Public Health and Environmental Health Bills, and the Compass reports a new Transformation Delivery Office will coordinate healthcare reforms. Butterfield's quarterly profit rose on higher interest income, the Cayman Independent reports, while Collas Crill appointed Louise Freestone as a Cayman corporate partner.
Elsewhere, the Department of Environment called a report that 96% of the world's coral reefs are critically endangered a "stark warning", per the Compass. Pirates Week 2026 runs from 30 October to 21 November.