The Minister of Finance, Hon. Colm Imbert, has taken note of an article in the Daily Express with the patently erroneous headline “Gun Theft at Customs”, which goes on to erroneously state that security systems at a transit shed “at Customs” were found to be non-functional and illegal items have disappeared from sheds “at Customs”.…
The Minister of Finance, Hon. Colm Imbert, MP, has taken note of a misunderstanding regarding the meaning and effect of the Notices of Valuation which are being posted out to residential property owners.Although these Notices of Valuation do not refer to Property Tax and are not issued by the Board of Inland Revenue, it is…
The Honourable Colm Imbert Minister of Finance along with the Honourable Pennelope Beckles-Robinson, Minister of Planning and Development met with a visiting mission from the Saudi Arabian Fund for Development (SFD) at the Eric William Finance Building on October 31st, 2023. The Mission was led by Mr. Yaser Albakri, Director General of Sectoral Expertise and…
On Monday October 16, 2023, CariCRIS, the regional credit rating agency, has reaffirmed the “high creditworthiness” ratings of CariAA (Foreign and Local Currency) on its regional scale, for the Government of the Republic of Trinidad and Tobago. The scale goes from CariAAA to CariBB. Trinidad and Tobago’s credit rating of CariAA with CariCRIS, is the…
The Minister of Finance has noted a lot of uninformed and speculative commentary in the public domain regarding a recent decision of Republic Bank to reduce credit card limits from US$10,000 to US$5,000 and an unfounded belief that this move by the Bank was done on the Minister’s instructions. Read more
The Financial Intelligence Unit of Trinidad and Tobago (“the FIUTT”) has always applied diligence and reverence for the law in the utilization of it powers. The FIUTT therefore ensures that when requests are made to Financial Institutions and Listed Businesses for information, it has sufficient and lawful basis for doing such. Under the FIUTT Act,…
The Minister of Finance has noted with interest an editorial in the Sunday Express regarding foreign exchange supply and demand. The editorial correctly points out that the sales of foreign exchange to the public for the first 7 months of 2023 are almost the same as the amount of forex available to the public in…
The Minister of Finance, Hon. Colm Imbert, MP, wishes to advise that this morning the Court of Appeal dismissed a challenge brought by Mr. Ravi Balgobin Maharaj against the Minister of Finance in relation to the appointment of Mr. Patrick Ferreira as the Chairman of the National Insurance Board of Trinidad and Tobago.In dismissing Maharaj’s…
On Monday September 11th, 2023, the Government of the Republic of Trinidad and Tobago, through the Ministry of Finance, successfully issued US$560 million Senior Unsecured long 7-year Notes at a coupon of 5.950% on the International Capital Market. The offer was oversubscribed by 3 times the amount required.