Finance Minister Dave Tancoo says T&T’s economy is showing signs of recovery following a positive assessment from the International Monetary Fund.
In its key findings, the IMF says inflation has returned to low levels, the country’s external accounts remain in surplus, and the banking sector remains stable with steady credit growth.
The report also projects continued economic growth through 2026, supported by new energy projects and non-energy sector growth.
Minister Tancoo says the findings signal renewed international confidence in the economy, but noted that the country inherited major economic challenges.
He said under the previous administration foreign reserves fell from over US$10 billion in 2015 to just over US$5 billion by 2025, rising public debt, job losses of nearly 50,000, and more than US$3 billion in withdrawals from the Heritage and Stabilisation Fund.
