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Finance Minister Davendranath Tancoo has signalled that Government will not accept any recommendation from the International Monetary Fund (IMF) that undermines its development agenda for Trinidad and Tobago.
In a WhatsApp exchange with Guardian Media on Thursday, Tancoo confirmed that he met IMF representatives last week as part of the Fund’s Article IV consultation, a routine assessment that allows IMF economists to examine a country’s finances, meet with officials and evaluate the stability of inflation, debt and economic growth. In the Caribbean, such reviews often influence credit ratings and investor confidence.
Tancoo acknowledged that IMF consultations typically produce recommendations such as reducing transfers, subsidies and devaluing national currencies. In some cases, it can also include restructuring state-owned enterprises and even increasing the retirement age. However, the minister said those prescriptions do not always align with the Government’s priorities.
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