Power102FM

Moody’s Recent Credit Downgrade Leaves T&T In Tough Position, Admits The Finance Minister

Moody’s Recent Credit Downgrade Leaves T&T In Tough Position, Admits The Finance Minister

The Government admits there is urgent work to be done following the country’s recent downgraded credit rating by Moody’s Investors Service from Baa2 to Baa3.

The international agency explained that it was their expectation that Trinidad and Tobago’s credit profile would continue to be negatively impacted by sustained low oil prices.

Colm-Imbert-3

Finance Minister, Colm Imbert.

When questioned on the issue by reporters during this afternoon’s post cabinet media briefing, Finance Minister, Colm Imbert said the development is expected to affect the cost of borrowing.

Minister Imbert added that Moody’s during its visit to the country in March this year cited concerns about the impact of the declining oil prices globally, challenges in data gathering and red tape in the public service.

CLICK TO LISTEN

However, the Finance Minister confirmed that efforts have begun, to address the challenges identified.

CLICK TO LISTEN

Finance Minister, Colm Imbert.

COMMENTS

WORDPRESS: 1
  • comment-avatar
    Jerry Hussain 2 years

    As Benny told your friend Patrick …you foolish man. Imbert and Rowley should realise by now that once you get the job of running a government of people you and your party made poor over 50 years OF YOUR RULE then you get to clean up your old act of corruption ways(in this life you do not get away from your inflicted evils easily…God is always watching over all of us and there are no favourites with Him) so you and your party corrupt ways will be called to account and therefore take Moody and IMF as chances for you to atone for your sins to all of us. Your old ways eg HDC , up the islands projects …all the work you cheated on etc. is now coming back to haunt you in your old age. GOD DOH SLEEP.

  • DISQUS: 0