ecutive branch:
chief of state: Queen ELIZABETH II (since 6 February 1952)
head of government: Governor and President of the Executive Council
John Wynne OWEN (since 15 September 1995)
cabinet: Executive Council (three members appointed by the governor,
four members elected by the Legislative Assembly)
elections: none; the monarch is hereditary; the governor is
appointed by the monarch

Legislative branch: unicameral Legislative Assembly (18 seats,
three official members and 15 elected by popular vote; members serve
four-year terms)
elections: last held 20 November 1996 (next to be held NA November
2000)
election results: percent of vote--NA; seats--National Team coalition
9, independents 6

Judicial branch: Grand Court; Cayman Islands Court of Appeal

Political parties and leaders: no formal political parties

International organization participation: Caricom (observer),
CDB, Interpol (subbureau), IOC

Diplomatic representation in the US: none (overseas territory of
the UK)

Diplomatic representation from the US: none (overseas territory
of the UK)

Flag description: blue, with the flag of the UK in the upper
hoist-side quadrant and the Caymanian coat of arms on a white disk
centered on the outer half of the flag; the coat of arms includes a
pineapple and turtle above a shield with three stars (representing
the three islands) and a scroll at the bottom bearing the motto HE
HATH FOUNDED IT UPON THE SEAS

Economy

Economy--overview: With no direct taxation, the islands are a
thriving offshore financial center. More than 40,000 companies were
registered in the Cayman Islands as of 1997, including almost 600
banks and trust companies; banking assets exceed $500 billion. A
stock exchange was opened in 1997. Tourism is also a mainstay,
accounting for about 70% of GDP and 75% of foreign currency
earnings. The tourist industry is aimed at the luxury market and
caters mainly to visitors from North America. Total tourist arrivals
exceeded 1.2 million visitors in 1997. About 90% of the islands'
food and consumer goods must be imported. The Caymanians enjoy one
of the highest outputs per capita and one of the highest standards
of living in the world.

GDP: purchasing power parity--$930 million (1997 est.)

GDP--real growth rate: 5.5% (1997 est.)

GDP--per capita: purchasing power parity?$24,500 (1997 est.)

GDP--composition by sector:
a