Click to view full size
Former finance minister Vishnu Dhanpaul has pushed back against claims by his successor, Davendranath Tancoo, that a newly secured US$1 billion loan signals strong international confidence in Trinidad and Tobago’s economy.
Speaking with Guardian Media on the sidelines of the People’s National Movement’s 70th anniversary celebrations, Dhanpaul accused the United National Congress administration of saddling the country with long-term debt at an excessive cost.
“A lot of people think that 6.5 per cent coupon rate is exceedingly high. I’ll give you an example: the last time we went out to the market in 2016, the coupon was 4.5 per cent and it was three times oversubscribed. Before that, in 2013 under Minister Howai, the coupon was similar, around 4.54 per cent, and it was 11 times oversubscribed,” he said.
The portable companion to gazettE. Get notifications, track read articles, and more. The latest news from Trinidad and Tobago, in one place.
Related stories
See articles related to "Dhanpaul slams Tancoo’s US$1B loan as ‘ridiculous’ debt burden on nation"