debut: 2/16/17
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Trinidad and Tobago Politics: Bonds, Loyalty, and Leadership
Trinidad and Tobago’s political landscape has always been a vibrant mix of intrigue, alliances, and debates that ripple through every corner of the twin-island nation. From the corridors of power to the bus stops in the East-West Corridor, the conversations about governance and leadership remain ever-present. The dynamics of power, the use of public funds, and the emotional bonds that citizens have with their leaders, however, have come into sharper focus in recent years due to certain events.
A $1.5 billion bond offering given to NCB Global Finance Limited, a business run by Angus Young, brother of Stuart Young, a significant player in the current administration, is the subject of one of the most obvious scandals. This bond's terms are impressive: it has a fixed interest rate of 5.74% per year for 20 years. This means that the government will have to pay $86.1 million in interest each year, which adds up to an incredible $1.722 billion in interest over the bond's life.
Although these kinds of financial agreements are not unusual, the procedure used to grant this bond has drawn criticism. There have been complaints, especially about the Ministry of Finance's seeming departure from custom, like leaving out traditional bidders from the fund-raising mandate. Stuart Young abstained from Cabinet meetings at least five times between 2018 and 2020 when his brother's business received TT$2.47 billion in government-related loans. This degree of financial involvement has sparked concerns about accountability and transparency, particularly in light of NCB Global Finance's comparatively modest asset base (TT$383 million) in comparison to the substantial amounts it has loaned to the government.
But politics in Trinidad and Tobago is never just about numbers—it's about people, their stories, and their loyalties. Take, for instance, a proud mother of 11 from Laventille, a lifelong supporter of the United National Congress (UNC), who speaks of her admiration for Kamla Persad-Bissessar. Her connection to Kamla is deeply personal, rooted in the leader’s charisma and apparent love for the people.
Yet, for many, this connection to leadership and party loyalty hasn’t translated into tangible change. A 41-year-old resident of the city lamented, “I was born PNM here, and for all my life, it’s been the same—dirty, undeveloped, unprotected. It’s only getting worse, more dangerous. We’ve been dealing with this for over 50 years. Some of our grandparents and parents have already passed on, and nothing has changed.”
The frustration is palpable. This resident continued, “Our parents should have fired them [the PNM] a long time ago. Our town's downfall is that we have such a strong faith in the PNM that we tolerate their deception. We have referred to evil as good for years. However, the PNM fails to demonstrate that love, which is colourless, genderless, and racialized.
Many people who feel abandoned by successive administrations, especially in communities that have suffered from decades of neglect, can relate to these words. Despite the lengthy history of the People's National Movement (PNM) in Trinidad and Tobago, there is a growing call for a change in the political discourse, a move away from rhetoric and partisanship and toward empathy, action, and accountability. Over fifty years have passed with no change in the struggles. Communities all throughout the country have suffered from inadequate infrastructure, a lack of safety, and a lack of significant development. While their neighbourhoods have remained unaltered and their lives unaffected by the advancements proclaimed in political speeches, generations have witnessed promises come and go.
When Dr. Keith Rowley took over as PNM leader in June 2010, there was optimism that he would lead the party away from bombast and personal attacks and toward a more respectful and accommodative approach to political speech. Even though there have been occasional instances of harmony, the country is still struggling with the polarizing nature of political discourse, which makes it difficult to come together.
There are many obstacles in Trinidad and Tobago's path.
Socioeconomic inequality still exists, and violent crime is a major concern.
Kamla and her team bear a great deal of responsibility as a result of the UNC's comeback to prominence, whether it is the result of a declining PNM vote or a resurgence of public trust. The public is keeping a close eye on things in the hopes that the problems that greatly affect their daily lives will be resolved with compassion and decisiveness. The stakes could not be higher, but the path ahead might not be simple. Trinidad and Tobago's politics need to change for the sake of progress, peace, and stability.
The needs of the populace must come before party loyalty and self-interest for leaders. And maybe, just maybe, the conversations on the promenades and at the doubles stand can change from ones of frustration to ones of hope.
Reference:
Research from T&T Newsday and Express newspapers
Central Bank of T&T.
Sarge
Trinidad and Tobago’s political landscape has always been a vibrant mix of intrigue, alliances, and debates that ripple through every corner of the twin-island nation. From the corridors of power to the bus stops in the East-West Corridor, the conversations about governance and leadership remain ever-present. The dynamics of power, the use of public funds, and the emotional bonds that citizens have with their leaders, however, have come into sharper focus in recent years due to certain events.
A $1.5 billion bond offering given to NCB Global Finance Limited, a business run by Angus Young, brother of Stuart Young, a significant player in the current administration, is the subject of one of the most obvious scandals. This bond's terms are impressive: it has a fixed interest rate of 5.74% per year for 20 years. This means that the government will have to pay $86.1 million in interest each year, which adds up to an incredible $1.722 billion in interest over the bond's life.
Although these kinds of financial agreements are not unusual, the procedure used to grant this bond has drawn criticism. There have been complaints, especially about the Ministry of Finance's seeming departure from custom, like leaving out traditional bidders from the fund-raising mandate. Stuart Young abstained from Cabinet meetings at least five times between 2018 and 2020 when his brother's business received TT$2.47 billion in government-related loans. This degree of financial involvement has sparked concerns about accountability and transparency, particularly in light of NCB Global Finance's comparatively modest asset base (TT$383 million) in comparison to the substantial amounts it has loaned to the government.
But politics in Trinidad and Tobago is never just about numbers—it's about people, their stories, and their loyalties. Take, for instance, a proud mother of 11 from Laventille, a lifelong supporter of the United National Congress (UNC), who speaks of her admiration for Kamla Persad-Bissessar. Her connection to Kamla is deeply personal, rooted in the leader’s charisma and apparent love for the people.
Yet, for many, this connection to leadership and party loyalty hasn’t translated into tangible change. A 41-year-old resident of the city lamented, “I was born PNM here, and for all my life, it’s been the same—dirty, undeveloped, unprotected. It’s only getting worse, more dangerous. We’ve been dealing with this for over 50 years. Some of our grandparents and parents have already passed on, and nothing has changed.”
The frustration is palpable. This resident continued, “Our parents should have fired them [the PNM] a long time ago. Our town's downfall is that we have such a strong faith in the PNM that we tolerate their deception. We have referred to evil as good for years. However, the PNM fails to demonstrate that love, which is colourless, genderless, and racialized.
Many people who feel abandoned by successive administrations, especially in communities that have suffered from decades of neglect, can relate to these words. Despite the lengthy history of the People's National Movement (PNM) in Trinidad and Tobago, there is a growing call for a change in the political discourse, a move away from rhetoric and partisanship and toward empathy, action, and accountability. Over fifty years have passed with no change in the struggles. Communities all throughout the country have suffered from inadequate infrastructure, a lack of safety, and a lack of significant development. While their neighbourhoods have remained unaltered and their lives unaffected by the advancements proclaimed in political speeches, generations have witnessed promises come and go.
When Dr. Keith Rowley took over as PNM leader in June 2010, there was optimism that he would lead the party away from bombast and personal attacks and toward a more respectful and accommodative approach to political speech. Even though there have been occasional instances of harmony, the country is still struggling with the polarizing nature of political discourse, which makes it difficult to come together.
There are many obstacles in Trinidad and Tobago's path.
Socioeconomic inequality still exists, and violent crime is a major concern.
Kamla and her team bear a great deal of responsibility as a result of the UNC's comeback to prominence, whether it is the result of a declining PNM vote or a resurgence of public trust. The public is keeping a close eye on things in the hopes that the problems that greatly affect their daily lives will be resolved with compassion and decisiveness. The stakes could not be higher, but the path ahead might not be simple. Trinidad and Tobago's politics need to change for the sake of progress, peace, and stability.
The needs of the populace must come before party loyalty and self-interest for leaders. And maybe, just maybe, the conversations on the promenades and at the doubles stand can change from ones of frustration to ones of hope.
Reference:
Research from T&T Newsday and Express newspapers
Central Bank of T&T.
Sarge
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