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Financial News

Sep 2018 Financial News

IMF Sees Trinidad Emerging From Deep Recession This Year

Sep 26, 2018

IMF executive board send statement on Trinidad and Tobago by email.

  • Economy “slowly recovering from a deep recession” with positive growth seen returning this year
    • Recovery in energy and non-energy sectors seen, underpinned by strong gas production; construction, financial services and trade seen as weak
    • GDP contracted 6.1% in 2016 and 2.6% last year
  • Debt continues to rise, despite fiscal consolidation; govt debt approaching 65% of GDP
  • Economic outlook expected to improve in medium-term, still heavily dependent on energy sector
  • FX shortages affect market confidence; FX imbalance “must be addressed on an urgent and sustained basis”
    • Govt has significant financial buffers, including sovereign wealth fund


Tuesday 25 September, 2018