Regional Briefs

IMF predicts 5.7% economic growth for T&T in 2022

WASHINGTON (CMC):

The International Monetary Fund (IMF) on Friday predicted a “strong economic recovery” for Trinidad and Tobago, projecting that real gross domestic growth is expected at 5.7 per cent in 2022.

In a statement following the virtual 2021 Article IV Mission, the Washington-based financial institution said the economic growth is reinforced by the continued policy support and the anticipated recovery in oil and gas production.

“Still, output would remain below pre-COVID-19 levels well into the medium-term. With demand pressures contained, headline inflation in 2022 is projected at about 2.4 per cent,” the IMF said, adding that the current account surplus will remain high over the medium term, supported by the recovery of energy exports, and foreign reserves would be at around seven months of imports.

“While the fiscal deficit is expected to narrow, public debt will remain high. The fiscal deficit is projected to narrow to 7.5 percent of GDP in financial year 2022, reflecting a combination of higher revenue mobilization and modest spending cuts,” it noted.

The IMF said that Trinidad and Tobago faced unprecedented challenges in 2020-21 with the combined effects of COVID-19, energy production cuts, and price shocks pushing the economy further into recession.

But it said the authorities’ decisive policy response helped contain COVID-19’s spread, protect lives and livelihoods, and pave the way for a strong recovery.

The Bahamas lifts travel ban on Haiti and Cuba

NASSAU (CMC):

The Bahamas has now resumed flights to Haiti and Cuba, lifting the travel ban imposed on both Caribbean nations.

The announcement was made on Friday by the prime minister’s press secretary, Clint Watson, who said that the airline Bahamasair had resumed its flights to Haiti .

The original ban on Haiti in February was explained as a decision to block travellers for three weeks as Haiti celebrated carnival.

At the time, few countries in the region had begun vaccination campaigns.

Prior to the ban, The Bahamas had regular, direct flights to Haiti.

The Bahamas received its first tranche of vaccines in early March, along with many countries in the region.

Haiti was left behind in the global and regional campaign effort and did not begin administering jabs until July.

The nation, which has been faced with increasing political and economic strife, has yet to vaccinate more than one per cent of its population.

Guyana concerned over influx of Venezuelan migrants

GEORGETOWN (CMC):

Guyana has expressed concern about the influx of Venezuelan migrants at the Port of Kaituma.

According to reports, dozens of Amerindians, including children, may have entered Guyanese territory from a neighbouring village in Venezuela in poor health and without food.

Several government agencies with a presence in the region have already responded with emergency interventions, providing immediate medical and food relief.

As an additional measure, a ministerial team of central responders departed the city on Saturday for Port Kaituma with additional supplies. The team will coordinate with other stakeholders that have been involved in collaborative work to ensure a holistic intervention.

Government officials have stated that an aircraft will remain on the ground to assist with medical evacuations which may become necessary.

In a statement on Saturday, the government said that it remains mindful of its humanitarian obligations to migrants and has been actively engaged in sustained efforts to deliver food and medical relief across the regions where migration into Guyana is taking place.