Trinidad and Tobago: 2021 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Trinidad and Tobago

March 10, 2022

Summary

Trinidad and Tobago faced unprecedented challenges in 2020–21. The combined effects of COVID-19 and energy production and price shocks pushed the economy further into recession. A decisive policy response helped contain the virus spread and protect lives and livelihoods. The fiscal position worsened due to significant tax revenues shortfalls, pushing public debt up. The vaccination pace accelerated recently, but vaccine hesitancy remains high, amid a potential new wave of infections.

Subject: COVID-19, Economic and financial statistics, Economic sectors, Energy sector, External sector statistics, Fiscal policy, Fiscal stance, Health, International organization, Monetary policy, Public debt

Keywords: Caribbean, COVID-19, decisive emergency response, Energy sector, External sector statistics, Fiscal stance, gas taxation regime, GDP contraction, Global, government plan, Trinidad and Tobago authorities, Trinidad and Tobago economy

Pages:
84
Volume:
2022
DOI:
https://doi.org/10.5089/9798400202582.002
Issue:
073
Series:
Country Report No. 2022/073
Stock No:
1TTOEA2022001
ISBN:
9798400202582
ISSN:
1934-7685

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