Blog Caribbean 5.0
Blog Caribbean 5.0
|Posted on April 7, 2013 at 1:20 PM|
"Anguilla is an internally self-governing overseas territory of the United Kingdom. Its politics take place in a framework of a parliamentary representative democratic dependency, whereby the Chief Minister is the head of government, and of a pluriform multi-party system.
The United Nations Committee on Decolonization includes Anguilla on the United Nations list of Non-Self-Governing Territories. The territory's constitution is Anguilla Constitutional Order 1 April 1982 (amended 1990). Executive power is exercised by the government. Legislative power is vested in both the government and the House of Assembly. The Judiciary is independent of the executive and the legislature."
"Anguilla's thin arid soil is largely unsuitable for agriculture, and the island has few land-based natural resources. Its main industries are tourism, offshore incorporation and management, offshore banking, captive insurance and fishing. Many insurance and financial businesses are headquartered in Anguilla.
Before the 2008 world-wide crisis the economy of Anguilla was expanding rapidly, especially the tourism sector which was driving major new developments in partnerships with multi-national companies.
Anguilla's currency is the East Caribbean dollar, though the US dollar is also widely accepted. The exchange rate is fixed to the US dollar at US$1 = EC$2.68.
The economy, and especially the tourism sector, suffered a setback in late 1995 due to the effects of Hurricane Luis in September but recovered in 1996. Hotels were hit particularly hard during this time. Another economic setback occurred during the aftermath of Hurricane Lenny in 2000.
The captive insurance industry is an important part of Anguilla's financial services industry, with global captive managers such as Capstone Associated Services having staffed offices on the island." (http://en.wikipedia.org/wiki/Anguilla#Governance, Accessed 7 april 2013)