Archive for the 'Finance' Category

Sending the wrong signals

By Raffique Shah
November 30, 2015

Raffique ShahIf “Santa Colm” assures the populace that their Christmas will be bright, not blue, then we have no reason to doubt the man.

After all, Acting Prime Minister Colm Imbert is the substantive Minister of Finance, in which capacity he has access to data and information pertaining to the state of the economy, especially Government’s revenues and expenditures, that you and I will not see.
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Scale of squandermania mind-boggling

By Raffique Shah
October 19, 2015

Raffique ShahIf a mere ten percent of the sums of money quoted by almost every new PNM minister as having gone to waste or astray under the previous government is factual, then at least a billion dollars was squandered or stolen during the tenure of the People’s Partnership.

If the ministers were accurate and truthful in their allegations of profligacy, then an astounding ten billion dollars, at least, found its way into the bank accounts of assorted thieves and accomplices.
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PM: We will adjust Budget to suit

By Clint Chan Tack
October 06 2015 –

Prime Minister Dr Keith RowleyPRIME Minister Dr Keith Rowley yesterday said the 2016 Budget provides the Government with an appropriate roadmap to guide the country through the challenging economic times ahead. The Prime Minister made this point as he and Finance Minister Colm Imbert spoke with reporters at Tower D of the Port-of-Spain International Waterfront Centre, after Imbert unveiled the Government’s $63 billion fiscal package.
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Weathering the storm

By Raffique Shah
October 04, 2015

Raffique ShahTomorrow’s Budget presentation by Finance Minister Colm Imbert is the most eagerly anticipated Appropriation Bill in many years.

The main reason for heightened interest is the depressed state of the economy. With low oil, gas and commodities prices, hence lower-than-normal revenues accruing to government, citizens are waiting to see just how the new administration proposes to navigate the ship of State.
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Reckless endangerment

By Terrence Farrell
Aug 14, 2015 –

FinancialWhat has been the impact on energy sector revenues of the fall in oil and gas prices? Data published by the Central Bank indicates that in the first eight months of the current fiscal year, energy sector revenues have declined by $3.3 billion or 27.5 per cent. Total Government revenues declined by only 1.7 per cent because the proceeds of the tax amnesty and NGC special dividend helped to offset the fall in oil revenues.
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A Stunningly Bad Appointment

By Dr. Selwyn R. Cudjoe
July 17, 2015

Dr. Selwyn R. CudjoeOn July 16th the Express reported that Mr. Jwala Rambarran, governor of the Central Bank, appointed Dr. Sandra Sookram to be a deputy governor. It was a stunningly bad decision; a continuation of the demonstrated incompetence Mr. Rambarran has shown since he became the governor in 2012. Such an appointment represents Mr. Rambarran’s continuing practice of sidelining strong competent people and elevating weak and incompetent acquaintances from which he can expect no challenges.
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Questions about that $60m theft

Express Editorial
May 11, 2015 –

TheftIt is not enough for Finance Minister Larry Howai to say that he expects all of the $60 million stolen from the National Energy Corporation’s account at First Citizens to be recovered. What is needed is prosecution of those who stole the money and full accountability from officials of the two State enterprises who were entrusted with managing the $60 million in public funds.
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T&T suffers big blow

By Asha Javeed
May 02, 2015 –

DownTrinidad and Tobago has suffered a big blow to its status as the place to invest in the Caribbean after international agency Moody’s downgraded the country’s credit rating from stable to negative.

Moody’s on Thursday downgraded Trinidad and Tobago’s Government bond rating and issuer rating to from Baa1 to Baa2.

The ratings are used and considered by international investors looking to do business in T&T.

Moody’s justification for the downgrade, which happened on Thursday, are:
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Moody’s just downgraded T&T’s credit rating

FinancialMoody’s Investors Service, the credit rating agency that conducts international financial research on bonds issued by commercial and government entities on Thursday downgraded Trinidad and Tobago’s government bond rating, and issuer rating to Baa2 from Baa1 and changed the outlook to negative from stable.

According to Moody’s, the key drivers behind the downgrade are:
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Behind the promise of a causeway

By Michael Harris
April 27, 2015 –


But there are more serious issues behind the promise of a causeway.

First of all while there is no question that the UNC did “tief” the PNM promise, we do have to ask ourselves why this particular promise. One answer has to do with what the Government is doing to the Chaguaramas peninsula. According to Planning Minister Bhoe Tewarie, the Government’s plan is to “monetise” the peninsula.
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