IMF: T&T economy not in crisis

Wednesday, March 16, 2016 - 20:00

The International Monetary Fund (IMF) says Trinidad and Tobago's economy is not in crisis. 

The IMF report following the mission to this country earlier this month, says that while the challenge of falling revenues due to low energy prices remains, there are substantial buffers and low public debt.

The IMF report also states that the economy has several strengths including a well-educated work force and a stable education system. 

The report goes on to say since assuming office the current government has already taken steps to deal with the revenue reductions, by widening the VAT tax base, cutting fuel subsidies and cutting the number of government ministries to streamline operations.