T&T Ratings Commentary: Q&A with Marla Dukharan

Moody’s released its Annual Credit Analysis on the Government of Trinidad and Tobago (GORTT) on June 28, 2019, followed by a FAQ on growth prospects, fiscal consolidation, and external risks on July 15, 2019. Moody’s has maintained its Ba1 (speculative/junk) rating on T&T with a stable outlook. On July 9, 2019, S&P Ratings downgraded T&T’s sovereign credit rating to BBB from BBB+ (one notch above speculative/junk) on economic and fiscal stress with a stable outlook. The Ministry of Finance published a release on Moody’s report on July 17, 2019. This Q&A provides a review of these four publications, and responds to the questions Marla has received in the context of these developments.

SPECIAL REPORTS

Economics 102: There is no such thing as a free lunch

Evaluates the facts behind borrowing from the IMF, the major risks to T&T’s debt sustainability and external accounts based on updates presented by the Minister of Finance on June 9, 2021 as part of the mid-year supplementary budget for Fiscal Year 2020/2021.