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Monday, May 29 2017 @ 03:08 PM AST

Trinidad & Tobago spent US$325.56 million to join CAF, can now borrow US$300 million

Trinidad and Tobago can now borrow US$300 million from CAF, after spending US$325.56 million to join it.

Watch Finance Minister Colm Imbert tell Parliament how much Trinidad and Tobago paid to join CAF http://www.youtube.com/watch?v=TyhDXt...mp;t=26m0s

- In June 1994, Trinidad and Tobago paid US$1 million to join CAF with Series C shares.
- In April 2012, Trinidad and Tobago paid an additional US$323 million to buy more Series C shares.
- In September 2016, Trinidad and Tobago paid another US$1.2 million to buy one Series A share.
- - Total: US$325.56 million

Imbert sold the ability to borrow US$300 million as some kind of boost to help exports to Latin America, without explaining how.

Opposition member Bhoe Tewarie asked: "How much are we going to borrow and what for, and how are we going to pay for it (service the loan)?"

* GOVERNMENT WENT INTO OVERDRAFT AT THE CENTRAL BANK BY $1 BILLION, SAID TEWARIE CITING CENTRAL BANK ECONOMIC BULLETIN MARCH 2017 http://www.youtube.com/watch?v=TyhDXt...p;t=63m40s

* BP'S TRINIDAD ONSHORE COMPRESSION (TROC) TO PRODUCE FIRST GAS IN APRIL: MINISTER IN THE OPM STUART YOUNG http://www.youtube.com/watch?v=TyhDXt...p;t=95m10s

* TRINIDAD AND TOBAGO TO BORROW US$300 MILLION FROM CAF https://www.youtube.com/watch?v=TyhDX...;t=284m22s

* Current People's National Movement (PNM) government admits it holds itself to the same standards as the Opposition https://www.youtube.com/watch?v=TyhDX...t=4h46m35s

* Finance Minister displays the depths of his knowledge of fiscal management and admits the only way he knows how to finance a deficit is by borrowing. https://www.youtube.com/watch?v=TyhDX...t=4h47m30s

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