From The Rio Times · Lachlan Williams · · 1m 20s
Trinidad Prime Minister Denies Recession
Trinidad's PM rejects recession claims, cites IMF growth forecasts.
In brief
Trinidad's PM rejects recession claims, cites IMF growth forecasts. Trinidad's Prime Minister Kamla Persad-Bissessar denies recession, citing 0.8% 2026 growth and 3% 2027 projections. Originally reported by The Rio Times.
Recession Claim Rejected
Prime Minister Kamla Persad-Bissessar told Parliament on Monday 19 October 2026 the country is in progression and not standing still.
“is in progression”
Growth Forecasts
She cited IMF projections of 0.8% growth for 2026 and 3% for 2027, with 3.5% average growth through 2029.
“0.8% growth for 2026 and 3% for 2027”
Debt Figures
Adjusted government debt rose 86.5% from TT$75.38 billion in fiscal 2015 to TT$140.58 billion in fiscal 2024.
“86.5% from TT$75.38 billion in fiscal 2015 to TT$140.58 billion in fiscal 2024”
State Asset Sales
The Prime Minister defended plans to sell loss-making state firms including the Trinidad Hilton and Magdalena Grand resort.
“loss-making state firms including the Trinidad Hilton and Magdalena Grand resort”
Opposition Claims
The Opposition claims a 2.2% fall in economic output this year, citing a Finance Ministry review by former finance minister Colm Imbert.
“2.2% fall in economic output this year”
Hotel Financials
Magdalena Grand has accumulated TT$240 million in losses, while the Trinidad Hilton requires TT$400 million for upgrades.
“TT$240 million in losses”
Investor Impact
US investors face conflicting economic narratives as the IMF expects energy output to shrink 4.5% this year.
“energy output to shrink 4.5% this year”
Sales Timeline
No price, timetable, or buyer has been announced for the Trinidad Hilton and Magdalena Grand resort sales.
“no price, timetable, or buyer”
Next Steps
The government will work with investors to ensure fair treatment of employees during state asset sales.
“fair treatment of employees”
The takeaway
Trinidad's Prime Minister Kamla Persad-Bissessar denies recession, citing 0.8% 2026 growth and 3% 2027 projections.
