Island retains its Moody's Aa3 credit rating

The Island has retained its Aa3 credit rating from Moody's, which the same as the UK.

Low debt levels, strong reserves and good financial management were listed as strengths in the annual report by the international credit ratings agency.

Moody's also praised the Island's robust regulation of its financial services and e-gaming sectors.

It describes labour shortages as the biggest challenge for the Manx economy, with unemployment at just 0.7 percent and job vacancies remaining high.