00:00The opposition and other critics of the government continue to express their concerns about the direction of Trinidad and Tobago's economy.
00:08However, Finance Minister Devin Janath Tankou says the team from the International Monetary Fund, the IMF, presented its preliminary findings and highlighted what he identified as several positive developments in Trinidad and Tobago's economy.
00:21The Finance Minister said among those developments identified by the IMF team is the initiation of an economic recovery driven in particular by continued strength in the non-energy sector, notably services and manufacturing.
00:34Minister Tankou also said the IMF team's preliminary findings also highlighted favorable medium-term prospects with anticipated developments in the energy sector projected to raise real GDP growth to around 2.9% in 2027 and 3.5% in 2028, while these estimates do not reflect potential upside from future Venezuela-related developments.
01:01An apparent reference to the government's recent approvals for deep-water and ultra-deep-water drilling activity in local waters, as well as the potential for the supply of natural gas from Venezuela to Trinidad and Tobago following recent U.S. action in Venezuela.
01:17The Finance Minister also said the IMF's initial findings also noted a broadly stable macro-financial environment with low inflation and unemployment, adequate international reserves, and a sound, well-capitalized banking sector.
01:31The Finance Minister said the IMF's other preliminary findings include continued investment-grade status and access to international financial markets, demonstrated most recently by the successful U.S. $1 billion sovereign bond issuance in January of this year.
01:49The Finance Minister said the IMF's preliminary findings also noted progress in public financial management, important advances in financial sector regulation and stability, and renewed momentum toward economic diversification, digital transformation, and the development of new growth sectors supported by the government's strategic policy agenda.
02:11In a statement on Monday, the Finance Minister said he received the International Monetary Fund team for the concluding meeting of their two-week official visit under the 2026 Article 4 consultation, the standard annual review conducted by the IMF with all of its member countries.
02:31The Finance Minister added that during the mission, the IMF team held wide-ranging engagements with economic, political, and social stakeholders across Trinidad and Tobago.
02:43Minister Tanku said that the administration under the leadership of Prime Minister Kamala Passat-Besessa, guided by a clear plan and vision, is firmly committed to placing Trinidad and Tobago on a stronger, more sustainable path.
02:55The Finance Minister said the government looks forward to reviewing the final 2026 Article 4 report once it is completed and submitted to the IMF Executive Board.
03:07Jewel Brown, TV6 News.
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