00:00The former planning minister says this is a productive step while acknowledging the political discourse surrounding the development,
00:08noting that while the process began in 2022 under the PNM,
00:13subsequent legislative action by the United National Congress between 2025 and 2026
00:20advanced the country to its final stage of compliance,
00:23stressing that the outcome reflects a continuation of effort rather than the work of any single administration.
00:31Dr. Botiwari further tells the Morning Edition that the EU's decision to delist Trinidad and Tobago
00:37strengthens confidence in the country's compliance with EU financial standards,
00:43improving investor sentiment and potentially lowering borrowing costs,
00:47while also streamlining banking processes that were previously slowed by enhanced scrutiny.
00:54However, he warns that with this increased access must come cautious and disciplined borrowing.
01:02So what we have to be careful about is, given this access now an opportunity,
01:09is to be careful about how much we borrow and not carry up the country's debt in a significant way
01:21that will cause us long-term harm.
01:24Dr. Botiwari warns that while this is a positive sign,
01:28structural weaknesses within the domestic economy still require urgent attention.
01:33Because we are not in a good place right now and we won't be in a much better pace until
01:402027.
01:42So what do we do between now, 2026, and 2027-28 to basically reduce our dependence on energy,
01:54bring in the foreign exchange, affect the balance of trade,
01:59increase the number of jobs, increase the amount of investments, etc.
02:06that would make the economy stronger.
02:09His admonition comes despite growth projections from the International Monetary Fund.
02:14Now there are good signs.
02:16The IMF says that we will probably grow by about 3% on average in 2027-28.
02:31Now that is fine, but meanwhile people have to live.
02:37Nicole M. Romney, TV6 News.
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