Among Caribbean economies, Trinidad and Tobago stands out. The
country has benefitted from an economy based on oil and gas,
which has proved stable over the years of global stagnation -
in contrast to its agriculture and tourism-dependent neighbors.
ROUNDTABLE TRINIDAD AND TOBAGO: Oiling the cogs
Trinidad and Tobago is pushing ahead with plans to diversify its energy-dependent economy. Its prospects were debated at a recent high-level LatinFinance roundtable. ?By Katie Llanos-Small
The country has escaped debt restructurings stemming from
heavy international financial burdens, another problem that has
plagued economies in the region.
And, since overtaking the Bahamas in 2011, the country is
the Caribbean economy that receives the second highest volume
of foreign direct investment. Dominican Republic tops it
marginally, according to UN data. (Financial hubs British
Virgin Islands and the Cayman Islands, which lead the Caribbean
rankings, are excluded here).
Yet the country still faces risks. One is clear: its oil and
gas reserves are limited, and extracting profit from them will
get increasingly difficult.
But there are others. Some stem from its size: "As a small
island state, it means you...
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