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Wednesday, April 26 2017 @ 07:55 AM AST

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Trinidad & Tobago is the 4th best place in the world to be corrupt

Excerpts from the Inter-American Development Bank study 'Are Oil and Gas Smothering the Private Sector in Trinidad and Tobago?':

The indicators show that Trinidad and Tobago, when compared to ROSE-C, ranks relatively well in all the components except for the rule of law, control of corruption, and political stability (Figure 9.8).

However, it is important to point out that Trinidad and Tobago’s indicators showed a steady deterioration between 2005 and 2013 in the areas of corruption and the rule of law.

Trinidad and Tobago also ranks lower than all its comparators except Guyana and Suriname in Figure 9.9.

A State Capture Index suggests that Trinidad and Tobago is at the higher end of the spectrum (figure 9.10).

State capture is defined as the efforts of firms to shape the laws, policies, and regulations of the state to their own advantage by providing illicit private gains to public officials.
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Trinidad & Tobago to eliminate one cent piece, so how will that work?

From the ongoing Know Your Money series by the Central Bank of Trinidad and Tobago:

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Nothing done to collect $796m from Niko

At a time when Government is borrowing to pay for its recurrent expenditure, Canadian oil and gas explorer Niko Resources Ltd said in a February 14 statement Trinidad and Tobago made no move to collect US$118 million owed to it for unfulfilled commitments and production sharing contract (PSC) obligations.

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Three charged in St Lucia with money laundering

A Venezuelan and a Saint Lucian were arrested and charged with money laundering by Police, St Lucia's Financial Intelligence Authority (FIA) said in a statement today.

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IMF expert dies while on assignment in Jamaica

Sad News! Matthew Smith

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Scotiabank: NAFTA boosted North American growth

While U.S. President Donald Trump threatens to impose a tax on imports from Mexico to build a border wall, another of Canada's largest banks has come out in defence of the North American Free Trade Agreement (NAFTA) among Canada, the USA and Mexico.

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Jamaica Observer: FATCA hurting Caribbean, revoke it, Mr Trump

On the same day the Bankers Association of Trinidad and Tobago (BATT) called on the Parliamentary Opposition to support it, one of Jamaica's leading daily newspapers spoke out in its editorial against it.

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Curacao and Sint Maarten reserves up almost 3% in December

Reserves consistently climbed since 2013, from 3.3 months of import cover (as at December 2013) to 4.6 months (as at December 2016).

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Visitors from Venezuela to Aruba plummets

The Central Bank of Aruba reported Friday:

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Antigua & Barbuda to rehabilitate road for about $13m per km

At TT$8.46 per British pound sterling (£), the £13.9 million grant from the United Kingdom, works out to TT$117,588,990.16. Covering approximately 8.7 km of road, that's about TT$13.5 million per km.