Finance Minister, the Honourable Davendranath Tancoo joined leaders from around the globe for the OPEC Fund Development Forum 2026 in Vienna, Austria on June 23^rd 2026.  The event convened under the theme, “A Transition That Empowers Our Tomorrow”, primarily focused on discussions on advancing development impact and strengthening resilience, particularly in vulnerable nations. This year’s forum also marked a historic milestone, as the OPEC Fund celebrated its Golden Jubilee fifty (50) years of partnership-based international development cooperation.

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On Monday 22nd June, 2026, the Customs and Excise Division (C&ED) successfully intercepted a shipment containing marijuana and a firearm during an intelligence-led operation conducted at a Customs Bonded Area in Port of Spain. The detailed examination of cargo consigned to a retired Customs and Excise Guard resulted in the discovery of eleven (11 packages) containing a green plant like substance resembling that of the Dangerous Drug Marijuana with an estimated street value of $1.4 million TTD, as well as a separate package containing a black metallic object resembling that of a firearm concealed within a washer and dryer.

The Ministry of Finance (MOF) wishes to alert the public to a fraudulent video currently circulating on social media platforms which falsely portrays the Minister of Finance, the Honourable Davendranath Tancoo, MP. The video in question utilises manipulated audio and video technology commonly known as a “deepfake” to mimic the Minister’s likeness and voice. In this fictitious footage, the Minister is falsely depicted as endorsing a specific individual, foreign exchange (Forex) trading platforms, and financial investment schemes (specifically referencing “Nadia Sanchez” and “Bullfield Holdings”).

Mr. Speaker, as we come to this House to amend the Appropriation Act 2026, we do so with a clear understanding that when resources are limited, every dollar must be used carefully and every dollar must serve the people.

We understand that responsible government is not only about careful budgeting; it is also about responsive and effective stewardship.

Throughout the fiscal year, circumstances evolve, priorities emerge, and the pace of implementation can create legitimate requirements for adjustments to previously approved allocations.

“Today, international rating agency Moody’s has raised Trinidad and Tobago’s rating outlook from “Negative” to “Stable”, while affirming the country’s Ba2 rating. This development follows closely on the IMF’s Article IV consultation and signals increasing international confidence in the policy direction pursued by the Government since taking office one year ago. Two of the world’s most respected international institutions have now independently reached similar conclusions, sending a clear message: the Government’s strategy is producing results, and Trinidad and Tobago is regaining economic momentum.

The rating agency highlighted the country’s improved external prospects and, notably, the proactive debt management strategy undertaken by the Government, including the international bond issuance in January that enabled a partial redemption of the US$1 billion August 2026 bond which significantly improved the country’s debt maturity profile. This is the direct result of deliberate, disciplined choices made by the new administration to strengthen the country’s financial footing and reduce external vulnerabilities.”

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The Deadline Date for the Submission of Applications is on Friday 3rd July, 2026.

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