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T&T economy set to grow strongly next year by 5-7%

 
bravos 2021-11-20 20:06:32 

See it here !

 
sudden 2021-11-20 20:12:22 

In reply to bravos

De Fraud coming soon. Stay tune big grin

 
bravos 2021-11-20 20:34:19 

In reply to sudden

Hahaha...

Get the fraud cage ready..

 
sgtdjones 2021-11-20 22:23:43 

Two idiots discussing the Economy ...something they know nothing about..

link

The Caribbean was the region hardest hit in the developing world by the covid19 pandemic, with a drop in 2020 of -6.8 per cent, the largest since 1900.The executive secretary of the Economic Commission for Latin America and the Caribbean (ECLAC), Alicia Bárcena, in 2021 the region will grow 5.9 per cent, "but it is not enough to offset the fall," she said.Bárcena reported owing to the crisis, the number of employed people in Latin America and the Caribbean fell by 25 million, 13 million of whom are women, a sharp drop in the female participation rate.

Poverty increased to 33.7 per cent, 22 million people more than in 2019. The digital divide also grew.

"We propose to go towards digital universality. Today we have 66.2 million homes with inadequate connectivity," she said.


IMF calls on authorities to deal with Forex issues

The International Monetary Fund mission that recently visited T&T has called on the authorities to remove all restrictions on current international transactions while providing sufficient foreign exchange to meet demand for all current international transactions.

“The mission underscored the need for an appropriate policy mix to support the exchange rate regime and called for the removal of restrictions on current international transactions. The authorities are encouraged to modernize FX and money market infrastructure to reduce inefficiencies and imbalances to support the sustainability of the existing arrangements,” the IMF stated.“Looking to the future, greater exchange rate flexibility would reduce the need for fiscal policy adjustments to restore external balance and create room for more countercyclical monetary policy. The mission encouraged the authorities to remove all restrictions on current international transactions while providing sufficient FX to meet demand for all current international transactions,” it stated.

The IMF made the comments in a Concluding Statement issued yesterday which described the preliminary findings of IMF staff at the end of an official staff visit to T&T.


link


Keep braying

 
sgtdjones 2021-11-20 22:39:19 

T&T Comments:

Claire Rostant


How plain can it be that Imbert is incompetent if the IMF has to step in to tell Trinidad to release more settlement currency? A few months ago Selby Wilson felt it necessary to say that Trinidad ( IMBERT) should be borrowing from the IMF. Imbert and Rowley have been stating that the IMF is the worse way to climb out of debt. In a Newsday article Imbert is quoted as saying that borrowing from China is better because he does not have to provide loan audit reports. So instead of the 1% interest we would have gotten from the IMF we are paying 2% or 100% more, to China's EXIMBANK instead. Trinis who do you think is paying back these loans not the citizens? Is this the kind of decisions we voted for, where the minister of finance just feels, to borrow from China at twice the rate? Well if you happy with that then you like it so. Commenters have been asking me what I have against China. Well maybe it has to do with the things China is infamous for like arresting Jack Ma because Xi Jinping feels Ma is talking too much against the CCP. Or the journalist that disappeared for the same reason. Or the Chinese Police beating protesters on the streets of Hong Kong. And that is a short list. And Democratic T&T at the lead of Rowley and Imbert has T%T in bed with the country with the worst human rights record on the planet. Men that are holding their heads high in the PNM should be holding them low. Flash cash China, because our politicians are cheap.


Lana Ali-Penn

If by razor wire you mean the US with all it's funny money is about to go into an inflation spiral; you could be right. A US currency devaluation would be very bad for the IMF. Hopefully, Rowley and his advisors, don't yield to IMF pressures because the untethered release of FOREX in T&T might just mean localizing/internalizing the US' problems.
“Hyperinflation is going to change everything,” Dorsey tweeted Friday night. “It’s happening.”

Claude Gonzales

PNM INCOMPETENCE: BRACE FOR THE CRASH LANDING!!!The IMF will save us yet again.............
Colm your time is coming..
BRACE FOR IMPACT !....

 
bravos 2021-11-20 22:43:25 

In reply to sudden

Easy easy..

 
sgtdjones 2021-11-20 22:46:55 

A word to the wise ...No matter how smart you are, you can never convince someone stupid that they are stupid


Its beyond you two bobolees, you two takes being a moron down to a whole new level.

sigh

 
sudden 2021-11-20 23:12:50 

In reply to bravos

That too small smile

 
bravos 2021-11-20 23:13:46 

In reply to sudden

Oh skites, lol yeah !
smile

 
Barry 2021-11-21 14:03:41 

In reply to bravos

He come, he gone, it still stinks cool

 
Barry 2021-11-21 14:05:06 

In reply to sgtdjones

Now four idiots- me included- come nah… bring Jerk Pork razz

 
bravos 2021-11-21 14:50:00 

In reply to Barry

He fraid you bad Barry..

 
sgtdjones 2021-11-21 16:16:08 

Economist Vaalmiki Arjoon, commenting on the IMF report, said it will be a difficult task ahead for economic recovery because of the uncertainly of the covid19 pandemic and the slow vaccination rates.

At this point, TT’s economic performance reflects 2005 levels and although the IMF has painted a growth, the country’s GDP remained a cause for concern, he said

“While the IMF has forecast a growth of 5.7 per cent next year, our GDP will still be worse than where we were over 2006 to 2019. Higher energy prices are likely to persist well into 2022, and this will augur well for our revenue earnings bringing the deficit down to approximately $9 billion. These persistent deficits are generally financed by debt, suggesting that the debt burden will continue to pile up." He cautioned that there was no room for financial mishaps and bureaucratic delays in the public sector.


Newsday




Protests in Mamoral over bad roads

Dry pipes in Maraval until November 18

Protests in Tabaquite for roads, bridges and water

 
sgtdjones 2021-11-21 16:35:27 

In reply to sudden

You shouldn't talk about small, with your girth....sigh

cool

 
Barry 2021-11-21 18:48:50 

A big tall fool copies off the net and then scratches himself . . . in the gleeful and solemn stupidity of a solid wood deck . . . I laugh irrationally as I contemplate the hilarity of such idiocy . . . Growth, Socafighter ... like that thing growing inside you ... lol

 
bravos 2021-11-21 20:44:44 

In reply to Barry

Lol that poor character and his imaginary d*ck !

 
sudden 2021-11-21 22:21:14 

Ole Barbie doll fraud still cutting and pasting

 
bravos 2021-11-22 00:51:55 

In reply to sudden

Poor ting have it bad..

 
sgtdjones 2021-11-22 02:46:31 

After reading this thread , one thing stands out . My facts, no one can refute them.

So the next thing the morons do is attack the poster.

rolleyes

 
Barry 2021-11-22 03:23:53 

In reply to sgtdjones

What facts? What a self serving idiot… cool

 
sgtdjones 2021-11-22 03:34:14 

In reply to Barry

Its obvious you cant read or assimilate what I have posted.
Now kindly fck off....

I don't have time for morons with BS....


twisted

 
Barry 2021-11-22 04:19:36 

In reply to sgtdjones

You are reading…. big grin

 
Jabari18 2021-11-22 09:47:00 

In reply to sgtdjones

The mission underscored the need for an appropriate policy mix to support the exchange rate regime and called for the removal of restrictions on current international transactions. The authorities are encouraged to modernize FX and money market infrastructure to reduce inefficiencies and imbalances to support the sustainability of the existing arrangements,” the IMF stated.“Looking to the future, greater exchange rate flexibility would reduce the need for fiscal policy adjustments to restore external balance and create room for more countercyclical monetary policy. The mission encouraged the authorities to remove all restrictions on current international transactions while providing sufficient FX to meet demand for all current international transactions,” it stated.


What are they suggesting here other than floating the exchange rate which if allowed to float will reach 8:1 and screw the poor people in the country

 
Jabari18 2021-11-22 09:50:42 

In reply to sgtdjones

I

mbert and Rowley have been stating that the IMF is the worse way to climb out of debt. In a Newsday article Imbert is quoted as saying that borrowing from China is better because he does not have to provide loan audit reports. So instead of the 1% interest we would have gotten from the IMF we are paying 2% or 100% more


Do you know why developing nations are turning to China? Less harsher policies to be implemented when borrowing. IMF is interested in figures not people. Their policies will fix the figure even if it fs the people

 
Jabari18 2021-11-22 09:52:22 

In reply to sgtdjones

I agree with valmiki

 
Jabari18 2021-11-22 14:30:27 

In reply to bravos

Bravs I’ve worked with the imf during these consultations (in a small capacity) back when I was in the ministry. The thing is they heavily rely on the data and info that we provide. So I don’t ever just take what they say and run with it. I am not as optimistic as them

 
sgtdjones 2021-11-22 15:04:20 

In reply to Jabari18

What are they suggesting here other than floating the exchange rate which if allowed to float will reach 8:1 and screw the poor people in the country


The ones getting screwed are the citizens already, what plan will the government show that will prevent this misery. They have none except
hoping Gas and oil prices rise and more taxes. Right now we’re in a period where we’re producing an insufficient amount of natural gas, the crude oil levels have declined and here we are trying to survive going forward. T&T has had a number of consecutive fiscal deficit budgets which means that T&T is using borrowed money to support lifestyles. So acquiescing to the demands and the political impact that all of the advocates and the activists were having on the political perception of the quality of governance from this party in power.

 
sgtdjones 2021-11-22 15:06:04 

In reply to Jabari18

American statesman John Adams, who served as president from 1797 to 1801, famously said, “There are two ways to conquer and enslave a country: One is by the sword; the other is by debt.” China, choosing the second path, has embraced colonial-era practices and rapidly emerged as the world’s biggest official creditor.

Requests have come flooding in to Beijing from Kyrgyzstan, Sri Lanka and a number of African nations, asking to restructure, delay repayments or forgive tens of billions of dollars of loans coming due this year.With each request, China’s drive to become the developing world’s biggest banker is backfiring. Over the last two decades it unleashed a global lending spree, showering countries with hundreds of billions of dollars, in an effort to expand its influence and become a political and economic superpower. Borrowers put up ports, mines and other crown jewels as collateral. One of the earliest successes of China's debt-trap diplomacy was in securing 1,158 square kilometers of strategic Pamir Mountains territory from the Central Asian nation of Tajikistan in 2011 in exchange for debt forgiveness.

Last year, with more than $1 billion in debt to China, Sri Lanka handed over a port to companies owned by the Chinese government. Now Djibouti, home to the US military’s main base in Africa, looks about to cede control of another key port to a Beijing-linked company.Some call this “debt-trap diplomacy“: Offer the honey of cheap infrastructure loans, with the sting of default coming if smaller economies can’t generate enough free cash to pay their interest down. Pakistan and Nepal turned down Chinese infrastructure loans last year in favor of other sources of funding. Chinese investment have the potential to address infrastructure gap, but its approach has led to mounting debt and few, if any, jobs in most countries.

“China is politically on the back foot,” said Andrew Small, senior fellow at the German Marshall Fund. Should China foreclose on those loans, he added, “they would be taking over strategic assets in countries that now can’t afford to feed their people.At the same time, the financial stakes are huge. Water-rich Laos handed China majority control of its national electric grid after its state-owned electricity company’s debt spiraled to 26 percent of national GDP.The Kiel Institute, a German research group, pegs China’s lending to the developing world at $520 billion or more, with the vast majority doled out in the last few years. That makes Beijing a bigger lender than the World Bank or the International Monetary Fund. With its international loans surpassing more than 5 percent of the global GDP, now, as the world economy reels, countries are increasingly telling Beijing they can’t pay the money back. In fact, such is the lopsided nature of the Chinese-dictated contracts that, while curtailing the options of the borrowing nations, they give China’s state-owned banks untrammeled discretion over any borrower, including the power to scrap loans or even demand full repayment ahead of schedule, according to the study.Many Chinese loans, in fact, have not been publicly disclosed, thus spawning a “hidden debt” problem. many of China’s loan agreements incorporate collateral arrangements, such as lender-controlled revenue accounts. Its collateralization practices seek to secure debt repayments by revenues flowing from, for example, commodity exports.
Some people in China began questioning whether their hard-earned money was being squandered abroad. Despite China’s growing wealth, its households still have incomes less than a quarter of those in developed countries.


NY Times


Do you know why developing nations are turning to China? Less harsher policies to be implemented when borrowing. IMF is interested in figures not people. Their policies will fix the figure even if it fs the people


Can you tell me what the terms are for T&T loans with China and the collateral? Check out what happens when its due and you cannot pay loans back to China.

 
sudden 2021-11-22 15:38:12 

Cut and paste in all yuh waist

 
bravos 2021-11-22 15:41:22 

In reply to Jabari18

Let's wait and see nah...even the naysayers are speculating..

 
bravos 2021-11-22 15:41:51 

In reply to sudden

Chap chap chap..

 
sgtdjones 2021-11-22 15:44:53 

In reply to sudden

See how I can make you look stupid .....

I provide facts based on my ability to read and assimilate , thus I can answer questions .
Such you cannot refute, so its simple to attack me.

I see you are clueless when you post cut and paste .Why reinvent the wheel, when such facts are readily available

Now, do you understand why I call your fat rass a looser.



cool

 
sgtdjones 2021-11-22 15:46:46 

In reply to bravos

Bobolee

Go and live in your caged home ...ok

Since you are like Sammy can only clap...typical arse kisser.

rolleyes

 
bravos 2021-11-22 15:51:17 

There's one pathetic lying fraud here and everyone knows him well,lol .

 
sudden 2021-11-22 15:53:23 

Fraud doesn’t have an original thought to save his life

 
Jabari18 2021-11-22 15:53:30 

In reply to sgtdjones

I am trying to have a conversation with you not the internet

 
Jabari18 2021-11-22 15:54:32 

In reply to sudden

You know how hard it is to try and have discourse with someone who only replying with whatever they find on the internet

 
Jabari18 2021-11-22 15:55:18 

In reply to bravos

I hope for the best but by nature in terms of economics I always underproject.

 
sudden 2021-11-22 15:55:38 

In reply to Jabari18

You have time, pardna

 
bravos 2021-11-22 15:59:49 

In reply to Jabari18

Lol you're such a nice guy Bari .. cool

 
sgtdjones 2021-11-22 16:01:17 

In reply to Jabari18

Can you tell me what the terms are for T&T loans with China and the collateral? Check out what happens when its due and you cannot pay loans back to China.


I asked the above....


I am providing facts....that are available.

All you have to do is read .

Refute them....see how simple it is ..

but since you cannot....bye

 
bravos 2021-11-22 16:02:06 

In reply to sudden


Fraud doesn’t have an original thought to save his life


Typical fraud...

 
Barry 2021-11-22 16:19:58 

In reply to sudden

Cut and paste in all yuh waist


lol lol lol lol lol lol lol

All yuh play with this man rolleyes

 
Barry 2021-11-22 16:21:24 

In reply to sgtdjones

Can you tell me what the terms are for T&T loans with China and the collateral? Check out what happens when its due and you cannot pay loans back to China.

Following up on Your fears, then Guyana dead . . . you tell Narper

razz

 
Barry 2021-11-22 16:26:29 


China has invested over $8 billion in mainly six Caribbean countries between 2005 and 2020 focused on the tourism, transportation, extractive metals, agriculture, and energy sectors.

Jamaica: $2.68 billion
Trinidad and Tobago: $1.94 billion
Antigua and Barbuda: $1 billion
Bahamas: $350 million
Cuba: $600 million
Guyana: $2.49 billion

A China-backed $3.1 billion loan and investment package to the Dominican Republic included $1.6 billion for infrastructure projects, $400 million for a new freeway, and $300 million for a new natural gas power plant.

China is a non-borrowing member of the Caribbean Development Bank and a member of the Inter-American Development Bank (IADB).

Link Text

I don't see Jerk Pork and Chrissy complaining razz

 
bravos 2021-11-22 16:54:01 

In reply to Barry

Lol @ Jerk Pork .

Barry you've got the measure of that fraud rel good... big grin

 
VIX 2021-11-22 17:59:00 

allyuh. For the new year. Try to be nice to stupidjones plz.

Or at least leave him on his own to copy-paste his no-reply nonsesense.

the Little fat fruit-picking barbie-doll freak deserves a lil break.

Is a whole year the man begging people to send him $10,000.

I offered $7.00 TT. big grin

 
bravos 2021-11-22 18:05:40 

In reply to VIX

One USD .

 
Barry 2021-11-22 21:05:39 

In reply to VIX
I am offering him my two cents worth . . . by bank wire

razz

 
sgtdjones 2021-11-22 22:29:01 

In reply to Barry

China has invested over $8 billion in mainly six Caribbean countries between 2005 and 2020 focused on the tourism, transportation, extractive metals, agriculture, and energy sectors.


Do you know the difference between Invested and Loan? are you people this dense?

Moron tell us what China loaned and the collateral, terms of loan interest?

Jabari ran when I asked the above?

Its difficult to refute facts.

Governor of the Central Bank Dr Alvin Hillaire recently launched its financial stability report The HSF is a sovereign wealth fund and its primary objectives are to save and invest surplus petroleum production revenues to support public expenditures during periods of revenue downturn. Fact is that Trinidad and Tobago is in economic crisis,” he said. “We have a government that is fully dependant on the HSF for its foreign exchange (FX) holdings .He said this is problematic as the Government still has to find ways of paying back the money borrowed in foreign exchange.”He said the Government has increased net public debt by 62 per cent from $77.3 billion to $125.3 billion in six years.Tancoo added that what "is even worse than the excessive borrowing, is that a lot of it is foreign borrowing." He said this does not include the $1.4 billion loan signed by the Government in May.


T&T Guardian

 
sgtdjones 2021-11-22 22:48:58 

"In fact, we are now borrowing to pay interest on existing debt, robbing the productive sector of much-needed capital."

"Additionally, it is the first time since 1986 that the economy has suffered three consecutive years of negative growth and all financial projections point to a fourth. "Total exports have declined by over $6bn for the period January to June 2019 cf the same period in 2018. There has been zero FDI in the non-energy sector and forex reserves have dwindled to US$7bn from US$11.4bn. The situation is dire. At the current usage rate four or possibly five years are left," he warned.

--T&T’s debt to China has jumped from $2.2 billion last year to $6.2 billion after Government partnered with China again on two new projects.


That new figure includes the existing debt inherited from the former administrations and now includes the $3 billion for newly-proposed La Brea Dry Dock facility and the $1 billion plan for Phoenix Park.

Prior to the 2019 Budget presentation, Finance Minister Colm Imbert said T&T owes the People’s Republic of China $2.229 billion.


T&T Newsday

 
Barry 2021-11-22 22:57:31 

In reply to sgtdjones
Debt is flying up yuh arse?
Link Text

razz

 
Barry 2021-11-22 22:59:10 

In reply to sgtdjones
Let's talk about Canada's debt
Link Text

big grin

 
sgtdjones 2021-11-22 23:01:14 

In reply to Barry

You know why I tend to ignore you , you cannot face facts , you are to stupid. Look at what you posted, it makes no sense.
Trini's instead of looking at their own problems always want to compare it with others.

Being a pragmatist, I see why in Trinidad optimism is very difficult. Living in fear of one's life every day. A health system that scares you rather than comforts you. Government offices where the work ethic is one of the worst in the world. Extreme taxation. Political theft. An economy that should have been diversified 40 years ago. Politicians that are purposefully divisive for votes. And of course I can probably list two pages more. These realities leave sparse room for optimism.

rolleyes

 
Barry 2021-11-22 23:01:54 

In reply to sgtdjones


OTTAWA, Oct 18 (Reuters) - Prime Minister Justin Trudeau's new government is set to impose higher taxes on Canadians, which will help fund some campaign promises but are not broad enough to also start paying down the country's record levels of debt, leaving Canada vulnerable to the next economic crisis, analysts say.

This could be a risky strategy for the country, which piled on new debt at a faster pace than any of its Group of Seven peers during the pandemic. The high level of indebtedness could limit Canada's ability to manage long-term challenges that require massive government funding, like transitioning from a fossil fuel-reliant economy to a green one.


Canada's gross debt-to-GDP ratio jumped 36% last year to 118% amid massive government transfers of aid to individuals and businesses, by far the largest increase of the G7 group of wealthy nations.


Link Text

 
Barry 2021-11-22 23:03:18 

In reply to sgtdjones

You know why I tend to ignore you , you cannot face facts , you are to stupid. Look at what you posted, it makes no sense.
Trini's instead of looking at their own problems always want to compare it with others.

Keep ignoring me jackarse . . . meanwhile compare Canada's debt
big grin

 
sgtdjones 2021-11-22 23:05:18 

In reply to Barry

Idiot, all countries debt jumped , but Canada can pay its debt .

Canada debt before pandemic was approx. 650 billion, GDP 1.643 trillion USD (2020)

WE have many minerals , oil, gas , gold , diamonds, uranium, silver etc

T&T will soon not be able to pay its debt ....China will come calling.. learn Mandarin

rolleyes

 
Barry 2021-11-22 23:06:47 

In reply to sgtdjones


Politicians that are purposefully divisive for votes. And of course I can probably list two pages more. These realities leave sparse room for optimism.


The evidence is right there, piled up all around him, yet Trudeau can’t figure out how he’s failed to bring Canadians together. Here’s a suggestion: talk to some voters who haven’t been gathered by loyal organizers to nod their heads at your every pronouncement. Spend some time in some constituencies you’re about to lose, and listen to the reasons why. Get over yourself. Look in a mirror. It couldn’t hurt.


Link Text

Preach brother fatso big grin

 
Barry 2021-11-22 23:07:33 

In reply to sgtdjones

learn Mandarin

I speak Mandarin and Cantonese

cool

 
Barry 2021-11-22 23:11:41 

In reply to sgtdjones

WE have many minerals , oil, gas , gold , diamonds, uranium, silver etc

We have gas from your bloated belly

lol lol lol lol lol lol

 
sgtdjones 2021-11-22 23:11:44 

In reply to Barry

You are a Trini , you can do everything ....and number one in everything . All BS.

Bye, I have had enough of ya BS....

I have a strong proclivity toward idiots....

 
Barry 2021-11-22 23:13:06 

In reply to sgtdjones

you are to stupid. Look at what you posted, it makes no sense.
Trini's instead of looking at their own problems always want to compare it with others.



Like you I am Canadian let's look at our problems

 
Barry 2021-11-22 23:13:54 

In reply to sgtdjones

You are a Trini , you can do everything ....and number one in everything

They number one up yours

razz

 
Barry 2021-11-22 23:15:53 

In reply to sgtdjones


I have a strong proclivity toward idiots....


Proclivity means a tendency to choose or do something regularly; an inclination or predisposition towards a particular thing
I see how they got together to make the fat one

razz

 
Jabari18 2021-11-23 00:04:51 

In reply to sgtdjones

I never ran. I choose to not engage in you if all you gonna do is post other people’s thoughts

 
sgtdjones 2021-11-23 15:36:36 

In reply to Jabari18

They are facts, and you cant refute them.

Its the reason you cant engage in a debate. So cut out the crap.

I asked you a question, didn't you see it.?

rolleyes

 
sgtdjones 2021-11-23 15:38:15 

In reply to Barry

Ediot

I prefer to work with people that have a proclivity to be efficient ,factual, not BS that you post.

 
doosra 2021-11-23 15:40:35 

In reply to bravos

need to fix the murder rate

 
bravos 2021-11-23 15:58:53 

In reply to doosra

Yeah it spiked a few months ago,I felt each one, it was trending well before that...and the stupid govt fired Gary.

Hearing he's forming a party for next election..I will definitely support him if all goes well,he's a proper manager.

 
Barry 2021-11-23 16:49:42 

In reply to sgtdjones

I prefer to work with people that have a proclivity to be efficient ,factual, not BS that you post.

You learnt a new word

razz

 
Jabari18 2021-11-23 17:36:47 

In reply to bravos

Yea all kinda bobol take place with that firing of GG. We were trending in the right direction with him

 
bravos 2021-11-23 20:51:40 

In reply to Jabari18

Definitely ..

 
Barry 2021-11-23 23:18:36 

In reply to bravos
Jacobs say he is the worst thing ever

razz

 
sudden 2021-11-23 23:57:00 

In reply to bravos

Wait Gary ever received the letter/ email from De Fraud or his lawyer?

 
Barry 2021-11-24 00:23:21 

In reply to sudden
Guess its no longer valid

razz

 
bravos 2021-11-24 02:33:43 

In reply to sudden

Gary come and Gary gone and me still ain't get de letter yet on STDFraudJones complaint. I guess similar may happen to his d*ck. Covid come covid go and his d*ck will still be a stock photo and probably outdated by then..

 
Barry 2021-11-24 09:39:28 

In reply to bravos

He is no longer answering this- remind him he is accountable razz

 
Barry 2021-11-24 11:29:35 

Jerky, how your country going? cool