Energy to the Rescue

Energy to the Rescue

Caribbean Trinidad & Tobago Bonds Economy & Policy Corporate & Sovereign Strategy

by Taina Rosa Oil and gas exporter Trinidad and Tobago (T&T) is expected to post a budget deficit this year. But soaring energy prices are likely to increase revenues for its quasi-sovereign energy companies and raise tax receipts from private energy companies, helping to reduce the deficit’s size. To cover the gap, the finance ministry has already said it might tap the international markets via a bond issue. Analysts who study the country say that raising the necessary funds should not be a difficult task for the investment grade sovereign. According to estimates from the local central bank, the energy sector accounted for about 35.8% of T&T’s GDP in 2009 and 35.7%

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