Daily Archive for May 20th, 2007

IMF ‘ranking’ blinds us to poverty amidst plenty

By Raffique Shah
May 20th 2007

FinancialNobody should be surprised that international agencies like the World Bank and the IMF have rated Trinidad and Tobago among the leading countries with respect to economic development. It would have taken a complete fool in government, or a big-time bandit so placed, to have done otherwise given the high levels of revenue we have enjoyed over the past five years or so. So our GDP and GNP will have grown in tandem with the steep increases in prices of oil, gas and downstream energy products that account for most of our revenue. These and other indicators used by such agencies will also show a major reduction in poverty levels and almost zero unemployment.
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