Govt. floats $600 million bond
The Government kicked off its borrowing this year by issuing a $600 million bond on Thursday.
This bond is to help meet the deficit in recurrent expenditure (estimated at $7.7 billion) and, therefore, one can expect more Government borrowing in fiscal 2010.
The bond auction will close on Friday. This bond will mature in 2025 at a [...]
Republic makes cool $ 1billion
They say the Trinidad and Tobago economy is in recession. Obviously, nobody told Republic Bank because they made over $1 billion in the last financial year.
The international financial crisis has still not made any significant impact on this country’s banking sector and this fact was underlined by Republic Bank’s annual accounts which [...]
TTMF floats $320million bond
The State continues the trend of going to the local market to raise money. This trend will continue in the New Year as the budget deficit expands.
State owned- Trinidad and Tobago Mortgage Finance Company (TTMF), which only last September floated a $500 million bond is going to the market again for some $320 [...]
$400 million bond to build early childhood centres
The big borrowing spree continues as the Educational Facilities Company floats the first tranche of its $1.9 billion series of school building bonds. So far, this year the Government and state companies have gone to the local and foreign bond market for well over $7 billion.
The little-known Educational Facilities Company Ltd (EFCL) which has [...]
TTMF floats $500 million bond
The TTMF bond offer closes on Friday. The coming months will see a pattern of large scale borrowing by the Government and state agencies and companies.
The Trinidad and Tobago Mortgage Finance Company Ltd (TTMF), which offers the lowest mortgage rates on the local market, has floated a 15-year $500 million bond.
TTMF is [...]
$250 million from property tax
People are bawling. Will Karen relent and lower property tax rate?
The Government’s new property tax regime is expected to net Government a cool $250 million next year.
That is the word from Finance Minister Karen Nunez-Tesheira as she confronts howls of protests at this new tax which is expected to impact heavily [...]
Karen’s ho hum budget
Nothing in the budget for the elderly. And the middle-class ends up getting squeezed
Many Trinis doubt that Finance Minister Karen Nunez-Tesheira’s 2010 budget would benefit them and some think it offers little to promote economic and social development.
Nunez-Tesheira presented the $44.3 billion budget to Parliament on Monday announcing a [...]
Budget gets bad reviews
Nobody seems to be impressed with the 2010 budget which was presented on Monday .How is Government going to finance the $7.7 billion deficit?
The Government has, generally, received bad reviews for its$44.3 billion 2010 budget. It got much less than a passing grade from the movers and shakers in the society.
It has been knocked [...]
Last of the big spenders
Can the Government continue this pattern of deficit budgeting? It has no idea when gas prices will recover.
The Government has started to spend more than it expects to earn.
And unless there is an early recovery in the prices of gas, petrochemicals and iron and steel on the international market the country could be [...]
$44 billion deficit budget
New taxes on alcohol, cigarettes and tobacco as Government presents a $44 billion budget with a $7.7 billion deficit. The Finance Minister expects hard times to continue next year with recovery expected in 2011.
Boozers. smokers and home owners were walloped with punishing taxes as the Finance Minister presented a $44.3 billion budget with an [...]