Trinidad and Tobago: 2023 Article IV Consultation-Press Release; and Staff Report

Author: International Monetary Fund. Western Hemisphere Dept.

Volume/Issue: Volume 2023 Issue 157

Publication date: May 2023

ISBN: 9798400240836

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Topics covered in this book

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Finance , Economics- Macroeconomics , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , IMF staff calculation , FX intervention , retail price index , financial asset , Trinidad and Tobago's authorities , policy formulation , repo policy rate , side GDP estimate , Energy pricing , Fiscal stance , External sector statistics , Global , Caribbean

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Summary

The economy is recovering supported by higher global energy prices and the rebound of the non-energy sector. Inflation has increased driven by imported energy and food prices, partial liberalization of fuel prices, and domestic weather-related shocks. The financial sector appears well-capitalized, liquid, and profitable. Higher global energy prices helped improve the external position, turn the FY2022 fiscal position into a surplus, and lower public debt.