Tag Archives: IMF

More than half our population did not experience the ravages of the 1988 International Monetary Fund’s (IMF) intervention. This group likely does not pay attention to the news reports on the Article IV consultations. They do not know that the Public Services Association’s 1988 membership was savaged and subsidies were …

“[…] During the Petrotrin shutdown saga, the OWTU actually offered to take a 15% wage cut in order to save jobs. The result? All, all, all workers were sent home. “The Communication Workers’ Union (CWU) settled with TSTT for 5% over a five-year period 2014–2019. How many jobs were saved? …

This week, the most important business news story was not the $2 that KFC wants to levy for their condiments, nor the shenanigans surrounding the Cabinet reshuffle. The week’s critical story was the release of the IMF 2021 Article IV Consultation Report.  To reduce the Report to a sound bite, ‘our …

“[…] I would like Fuad [Abu Bakr] to tell the nation what other option the NAR Government had than to go to the IMF. “Far from being a heartless dictator, the then Prime Minister Mr ANR Robinson sought to retain all those persons employed in the Public Service by reducing …

The budget presented by the Honourable Colm Imbert, minister of finance in the current PNM administration, is his seventh such offering. Not for the first time, he has offered the country a deficit budget, to the tune of $TT9.096 billion, resulting from expenditure in the sum of $TT52.429b and revenue …

The recent utterances of a UWI economist about our economy (‘dire straits’) had me scampering for a Lloyd Best quote: ‘Palpably, we lack the pegs on which to hang ongoing events, and which would allow us to convert arbitrary detail into a systematic pattern, arithmetic into algebra, the specific into …

Kristalina Georgieva, the IMF head, in a conversation with the Washington Post last week described the economic situation brought about by the Covid-19 pandemic as a ‘crisis like no other’. For her, the impending crisis was a  ‘great reversal’ that was wrought with much uncertainty. She foresaw significant job losses …

“What you see and what you hear depends a great deal on where you are standing. It also depends on what sort of person you are.” CS Lewis. Different views abound about the need to stay or not at home. Some bristle at the restrictions and I will confess my …

“Thank God for decisions made to stimulate drilling […] by the Kamla Persad- Bissessar government… Instead of benefitting from flowing gas today, we might well have been on our knees, eating grass.” (Dr Bhoe Tewarie, Trinidad Express, 13 March.) An astounding statement with subtexts! What exactly is he saying and …

Official statistics seeks to inform the public about social and economic matters and helps develop and evaluate public policy. It is the foundation for a properly run society. In 2014, the IMF bemoaned: “Growing statistical shortcomings have rendered the conduct of surveillance ever harder and must be addressed.” In other …

An Economist article (2011) defined ‘elites’ as people who shape the world without anyone noticing. The rich and powerful leverage their privileged status to exercise decisive control over the way society is organised and developed. I am thankful that Gregory Aboud has opened this discussion. While he did not define …

The Dr Roodal Moonilal Ramai Trace SDMS Primary School (Sunday Express, 13 January) is a prime example of our need to examine public spending. In 2013, the school ostensibly bestowed naming rights on the MP for the TT$350,000 raised from businessmen in the area to purchase the land. Construction reportedly …