Today’s viral pandemic is a human and economic catastrophe. The human side can only be dealt with by scientists and medics. This article will focus on the economic. Those on the lowest rungs of the economic ladder throughout the world are the hardest hit by today’s crisis. They find themselves without jobs, without savings and with limited prospects of employment generally. Cayman is no different.
We don’t typically associate Cayman with suffering, deprivation and the like, but this crisis risks creating exactly that because Cayman has no meaningful social security system and is an economy that is built on basically four pillars: tourism, financial services, medical and the public sector.
Looking first at tourism, the outlook is bleak. Cayman’s borders are closed until