Concerns are growing over a US$500 million financing deal tied to the Port of Spain Waterfront, highlighted in the 2025 Auditor General’s Report.
Auditor General Jaiwantie Ramdass says the loan, secured through UMB Bank by Port of Spain Waterfront Development Limited, is being repaid with public funds despite not being listed as Government debt.
The Office of the President has rejected social media claims of wrongdoing, saying President Christine Kangaloo acted only under constitutional advice from Cabinet and ministers.
“The Office of the President rejects any attempt to portray either the Office of the President or Her Excellency as the author, architect, or wrongdoer in respect of any transaction involving the State,” the Office of the President stated.
“The language used in the publication is an affront, not only to the dignity of the highest office in the land, but to the standards of decency, responsibility and respect upon which any democratic society must depend. The suggestion that the Office of the President has been “prostituted” in relation to any financial arrangement is to be condemned in the strongest possible terms. It is a scandalous and degrading slur. It is especially repugnant that the article names the current holder of the Office of President.”
