Country Profile
From The Report: Trinidad & Tobago 2018
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Trinidad and Tobago possesses robust institutions, with a stable democratic system and strong regional and international ties. Nevertheless, the country has faced a series of corruption cases, and a number of initiatives have been launched to combat this issue. T&T faces further challenges related to unemployment, particularly among the young, along with law and order, though figures remain below that of neighbouring states. Furthermore, recent economic and political instability in Venezuela has led to a rise in the number of refugees in the country. This chapter contains an interview with President Paula-Mae Weekes; and a viewpoint by Luis Alberto Moreno, President, Inter-American Development Bank.

Articles from this Chapter

Overview

Diverse attractions: The island nation is rich in both natural resources and culture
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Situated at the southern end of the Caribbean and only 11 km from the Venezuelan coast, the twin-island nation of Trinidad and Tobago has long stood out in the Caribbean and South American regions. Rich in oil and gas, T&T’s economy is comparatively wealthy, featuring robust democratic institutions and a vibrant culture. However, as a result of its reliance on oil and gas exports the country has faced similar issues to other hydrocarbons-based economies; with growth slowing following…

Interview

A stable foundation: President Paula-Mae Weekes, on the need for integration in an interconnected world
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Interview:President Paula-Mae Weekes How will further regional integration be achieved, and what role will Trinidad and Tobago play in this? PAULA-MAE WEEKES: For historical reasons, T&T has traditionally positioned itself as a leader in the region due to a higher degree of economic development. When you are in that type of position, you have a responsibility to move things forward. It is my firm belief that the region would do better working together, rather than as individual island…

Overview

Robust institutions: A strong democratic framework ensures progress on both social and economic reforms
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Trinidad and Tobago possesses robust institutions, with a stable democratic system and strong regional and international ties. Nevertheless, the country has faced a series of corruption cases, and a number of initiatives have been launched to combat this issue. T&T faces further challenges related to unemployment, particularly among the young, along with law and order, though figures remain below that of neighbouring states. Furthermore, recent economic and political instability in Venezuela…

Analysis

Seeking solutions: New legislation increases police powers to fight gang crime
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Despite concerted efforts by the government to tackle the issue, criminal activity remains a major topic of concern in Trinidad and Tobago. Incidents of violent crime have risen steadily over the past 20 years, with 101 murders in 1997, 395 in 2007 and 494 in 2017. Furthermore, in the first nine months of 2018 alone, 383 killings were reported. The seizure of illegal firearms has yet to reverse the trend – 1026 such items were seized in 2017, a 32% increase on the 765 taken in 2016. A…

Viewpoint

Greater trust: Luis Alberto Moreno, President, Inter-American Development Bank, on strengthening the credibility of public-private alliances through collective action mechanisms
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Viewpoint:Luis Alberto Moreno Among the most important tasks for Latin America and the Caribbean is to achieve greater growth rates, and a fundamental part of this is investing in infrastructure. The most viable way to accomplish this investment is a significant increase in the number of public-private partnerships (PPPs), and this can only be happen if corruption is eradicated from public contracting. Currently, around 2.5% of the region’s GDP is invested in infrastructure development.…

Viewpoint

Greater trust: Luis Alberto Moreno, President, Inter-American Development Bank, on strengthening the credibility of public-private alliances through collective action mechanisms
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Viewpoint:Luis Alberto Moreno Among the most important tasks for Latin America and the Caribbean is to achieve greater growth rates, and a fundamental part of this is investing in infrastructure. The most viable way to accomplish this investment is a significant increase in the number of public-private partnerships (PPPs), and this can only be happen if corruption is eradicated from public contracting. Currently, around 2.5% of the region’s GDP is invested in infrastructure development.…

Overview

Global village: Medium-term prospects suggest globalisation is set to continue for the foreseeable future – TT18
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Decades of growth in trade and foreign investment have seen global economies become more interconnected than ever before. This trend has been reinforced by the steady liberalisation of international trade and investment, at the bilateral, plurilateral and multilateral levels. National economic specialisations, and regional economic and political integration, have broadly proceeded in a single direction since the 1980s. On aggregate, emerging markets have become the main drivers of growth around the world. Limitations Despite the apparent success of trade and investment liberalisation, multilateral negotiations aiming for further openness…