00:00Finance Minister Davindranath Tanku is welcoming the outcome of the International Monetary Fund's
00:052026 Article 4 consultation, describing it as a sign of renewed confidence in Trinidad and Tobago's
00:12economy. According to the IMF assessment, inflation has returned to low levels. The country's current
00:19account remains in surplus and the banking sector remains stable with steady credit growth. The
00:25report also projects that international reserves will remain adequately at approximately five and a
00:30half months of import cover, supported by assets in the Heritage and Stabilization Fund. Minister
00:37Tanku says the findings come against the backdrop of what he described as years of economic decline
00:42before the current administration took place. He pointed to falling foreign exchange reserves,
00:49rising public debt, employment pressures and repeated withdrawals from the Heritage and
00:54Stabilization Fund between 2015 and 2025. The Finance Minister says the IMF has projected
01:02continued economic growth through 2026 and over the medium term driven by upcoming energy projects
01:09and activity in the non-energy sector. He says the government remains focused on boosting energy
01:15production, improving the investment climate and maintaining fiscal discipline. The IMF also
01:21acknowledged ongoing government reforms aimed at improving revenue collection, controlling expenditure
01:28and strengthening public finances. Additionally, the report recognized Trinidad and Tobago's removal
01:34from the European Union's list of non-cooperative tax jurisdictions. However, the IMF also flagged several
01:42risks, including global economic uncertainty, possible delays in energy projects, foreign exchange challenges and
01:50disruptions in mature energy fields. Minister Tanku says the government intends to continue structural
01:56reforms aimed at improving the business environment, accelerating digitization and strengthening economic
02:03resilience. Aksha Galston, TV6 News.
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