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: Summary Court; Grand Court; Cayman Islands Court of
Appeal

Political parties and leaders: no formal political parties
note: the National Team, an organization formed in 1992 to oppose some
proposals in the constitutional draft, continues to exert legislative
power

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

@Cayman Islands: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% (1997 est.)

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

GDP - composition by sector:
agriculture: 1.4%
industry: 3.2%
services: 95.4% (1994 est.)

Population below poverty line: NA%

Household income or consumption by percentage share:
lowest 10%: NA%
highest 10%: NA%

Inflation rate (consumer prices):