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

Pages: previous  1  2  3  4  next 
link Jabari18 Joined: Feb 27, 2011
Posts: 22106
11/22/21, 10:30:27 AM 
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

link sgtdjones Joined: Feb 15, 2017
Posts: 26957
11/22/21, 11:04:20 AM 
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.

link sgtdjones Joined: Feb 15, 2017
Posts: 26957
11/22/21, 11:06:04 AM 
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.

link sudden Joined: Nov 26, 2006
Posts: 46394
11/22/21, 11:38:12 AM 
Cut and paste in all yuh waist

link bravos Joined: Oct 13, 2009
Posts: 40260
11/22/21, 11:41:22 AM 
In reply to Jabari18

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

link bravos Joined: Oct 13, 2009
Posts: 40260
11/22/21, 11:41:51 AM 
In reply to sudden

Chap chap chap..

link sgtdjones Joined: Feb 15, 2017
Posts: 26957
11/22/21, 11:44:53 AM 
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

link sgtdjones Joined: Feb 15, 2017
Posts: 26957
11/22/21, 11:46:46 AM 
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

link bravos Joined: Oct 13, 2009
Posts: 40260
11/22/21, 11:51:17 AM 
There's one pathetic lying fraud here and everyone knows him well,lol .

link sudden Joined: Nov 26, 2006
Posts: 46394
11/22/21, 11:53:23 AM 
Fraud doesn’t have an original thought to save his life

link Jabari18 Joined: Feb 27, 2011
Posts: 22106
11/22/21, 11:53:30 AM 
In reply to sgtdjones

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

link Jabari18 Joined: Feb 27, 2011
Posts: 22106
11/22/21, 11:54:32 AM 
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

link Jabari18 Joined: Feb 27, 2011
Posts: 22106
11/22/21, 11:55:18 AM 
In reply to bravos

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

link sudden Joined: Nov 26, 2006
Posts: 46394
11/22/21, 11:55:38 AM 
In reply to Jabari18

You have time, pardna

link bravos Joined: Oct 13, 2009
Posts: 40260
11/22/21, 11:59:49 AM 
In reply to Jabari18

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

link sgtdjones Joined: Feb 15, 2017
Posts: 26957
11/22/21, 12:01:17 PM 
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

link bravos Joined: Oct 13, 2009
Posts: 40260
11/22/21, 12:02:06 PM 
In reply to sudden


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


Typical fraud...

link Barry Joined: Jun 19, 2019
Posts: 10456
11/22/21, 12:19:58 PM 
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

link Barry Joined: Jun 19, 2019
Posts: 10456
11/22/21, 12:21:24 PM 
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

link Barry Joined: Jun 19, 2019
Posts: 10456
11/22/21, 12:26:29 PM 

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

link bravos Joined: Oct 13, 2009
Posts: 40260
11/22/21, 12:54:01 PM 
In reply to Barry

Lol @ Jerk Pork .

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

link VIX Joined: Feb 6, 2003
Posts: 14781
11/22/21, 1:59:00 PM 
avatar image
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

link bravos Joined: Oct 13, 2009
Posts: 40260
11/22/21, 2:05:40 PM 
In reply to VIX

One USD .

link Barry Joined: Jun 19, 2019
Posts: 10456
11/22/21, 5:05:39 PM 
In reply to VIX
I am offering him my two cents worth . . . by bank wire

razz

link sgtdjones Joined: Feb 15, 2017
Posts: 26957
11/22/21, 6:29:01 PM 
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

Very Happy Smile Sad Surprised Shocked Confused Cool Laughing Razz Embarassed Crying or Very sad Evil or Very Mad Twisted Evil Rolling Eyes Wink
 
Pages: previous  1  2  3  4  next