Trinidad and Tobago: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Trinidad and Tobago

June 29, 2016

Preview Citation

Format: Chicago

Trinidad and Tobago: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Trinidad and Tobago, (USA: International Monetary Fund, 2016) accessed December 26, 2024

Summary

This paper discusses economic developments, outlook, and risks in Trinidad and Tobago. The economic output of Trinidad and Tobago has continued to shrink. Ongoing maintenance and further declines in gas and oil production are estimated to have driven energy output 4.7 percent lower (year over year) as of September 2015. The longstanding current account surplus turned into a 5.4 percent of GDP deficit in 2015. The significant terms-of-trade shock implies that the real effective exchange rate has become more overvalued. Risks to growth are tilted to the downside, and much will depend on the authorities’ ability to navigate the transition to the lower energy price environment.

Subject: Energy pricing, Energy subsidies, Expenditure, Foreign exchange, Public debt

Keywords: A number of government ministry, Assumptions in the budget, Authorities in collaboration, CR, Debt, Energy pricing, Energy subsidies, Global, Government, Headline inflation, ISCR, Revenue base, Shortage

Publication Details

Pages:

73
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2016/204
Stock No:

1TTOEA2016001
ISBN:

9781475578232
ISSN:

1934-7685

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