Archive for the 'Finance' Category

US demonising China

By Raffique Shah
July 12, 2019

Raffique ShahLast May, Minister of Finance Colm Imbert announced at a post-Cabinet media briefing that Shanghai Construction had been awarded a billion-dollar contract to build the Port-of-Spain General Hospital’s new central block. Minister Imbert said that the Chinese construction giant, which is no stranger to undertaking big projects in Trinidad and Tobago, had bid TT $1 billion, which was $600 million less than Bouygues Batiment, a French company.
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Identifying and fighting economic apartheid

By Raffique Shah
June 14, 2019

Raffique ShahTrinidad and Tobago should be grateful for having among its citizens patriots who are unafraid to speak out on issues that affect us all, and more importantly, who bear allegiance to the country, not to any political party. Of course, such persons have the right to support a party of their choice at any point in time. But they also jealously maintain their independence by criticising the policies and actions of the party they voted for when they are convinced it has made decisions that are inimical to the best interests of the nation.
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The Venezuela Myth Keeping Us From Transforming Our Economy

By Ellen Brown
February 09, 2019 – ellenbrown.com

USAModern Monetary Theory (MMT) is getting significant media attention these days, after Alexandria Ocasio-Cortez said in an interview that it should “be a larger part of our conversation” when it comes to funding the Green New Deal. According to MMT, the government can spend what it needs without worrying about deficits. MMT expert and Bernie Sanders advisor Prof. Stephanie Kelton says the government actually creates money when it spends. The real limit on spending is not an artificially imposed debt ceiling but a lack of labor and materials to do the work, leading to generalized price inflation. Only when that real ceiling is hit does the money need to be taxed back, and then not to fund government spending but to shrink the money supply in an economy that has run out of resources to put the extra money to work.
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Think small, earn big

By Raffique Shah
January 03, 2019

Raffique ShahI could have begun the New Year by griping about all the negatives of the old, cussing from politicians to crooks for the many woes we citizens face daily, ranging from a record high number of homicides to a seemingly stagnated economy, arguing that the current government is the worst we have had since the indigenous peoples ran things however many centuries ago, blah, blah, blah.
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Poor People Fed Up

By Danielle Frederick
August 21, 2018

MP Fitzgerald Hinds on the runAs I watched the assault on the Member of Parliament for Laventille West and the Local Government Councillor for the area by their constituents on August 14, 2018, I was saddened by the knowledge that what was playing out was a culmination of long unaddressed social and political factors that none of the actors, on either side, would acknowledge long enough to address. Let me be categorical in my condemnation of the actions of some residents of Beetham Gardens towards their Member of Parliament and Local Government Councillor. These men, Minister Fitzgerald Hinds and Councillor Akil Audain, represented the entire political class, and those chasing them represented the underclass created and sustained, in part, by the political class.
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Valuation Division off on wrong foot

By Raffique Shah
June 15, 2018

Raffique ShahOftentimes, civic and professional organisations that stay aloof of the political mud-wrestling that has long been the dominant feature of our parliamentary system, provide citizens with greater clarity on legislation that impact our lives than our warring politicians do.

Such is the case with the controversial Property Tax Act and its many amendments. On every occasion that the legislation has come before Parliament, it has generated a fish-market-like cacophony and wild fear-mongering to the extent that an entire general election campaign (2010) was conducted on the theme “axe the tax”, and the Manning government fell, albeit on issues wider and larger than the tax.
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Go after State lands thieves

By Raffique Shah
June 07, 2018

Raffique ShahI was about to write a column on my concerns with the Valuation Division of the Ministry of Finance, which plays a critical role in the implementation of the new Property Tax, when I read the lead story in the Sunday Express that pertained to a number of “hanky-panky” deals involving the distribution of State lands by officials of the Division of State Lands, which falls under the Ministry of Agriculture.
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Imbert’s Casual Cruelty

By Dr Selwyn R. Cudjoe
May 21, 2018

Dr. Selwyn R. CudjoeI am always struck by Colm Imbert’s casual cruelty; his notion that he possesses superior wisdom; is always in the right; and his access to privileged information makes his utterances irrefutable. Such advantages, he believes, give him the right to demean and insult anyone he chooses.

On May 11 he was at his most incorrigible presumably because God blessed T&T with greater accesses to nature’s riches than say Jamaica. He accused Mariano Brown, Patrick Watson, Roger Hosein, Indera Sagewan-Alli, and Maria Dukharan of being “unfair and biased in their criticisms of Government’s handling of the economy” (Guardian, May 13).
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Harness the best cocoa in the world

By Raffique Shah
May 16, 2018

Raffique ShahSometimes it pays to stay aloof of the noise that tends to pollute discussions on issues as important as the state of the national economy and efforts to resuscitate it. Last week, Finance Minister Colm Imbert’s mid-year review of the fiscal 2017-2018 Budget, which has been elevated to a media event, degenerated into a political slugfest involving several prominent economists and political commentators, and cantankerous Colm.
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Imbert paints brighter mid-year picture

Economy turning around

By Gail Alexander
May 11, 2018 – guardian.co.tt

Colm ImbertAfter two and a half years of financial adjustment, Government’s now seeing its way.

The economy is turning around, revenue collection is up, the energy sector’s booming and the non-oil sector is also growing, Finance Minister Colm Imbert announced yesterday.
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