Opposition Leader Kamla Persad Bissesar says the government’s latest attempts to hide the grim economic reality facing our nation is disturbing and worrying. She was referring to this country’s latest credit rating by the agency Standards and Poors (S&P). The following is a press release from the Opposition Leader:
The latest attempt by the Rowley regime to hide the grim economic reality facing our nation by distorting Trinidad and Tobago’s recent sovereign credit rating by the agency Standards and Poors (S&P) is disturbing and worrying.
Standards and Poors has affirmed the current anaemic nature of Trinidad and Tobago’s economic climate with a BBB- rating. This comes on the heels of Trinidad and Tobago being downgraded by S&P from A- to BB+ in April 2017. Then from BBB + to BBB on July 19, 2019. Then from BBB to BBB- in March of 2020.
Last year, Keith Rowley shamefully attempted to dismiss the S & P downgrades by saying we “just lost a plus”, trivializing the precipitous fall in our Sovereign Credit ratings, which act as an essential barometer by which investors determine the creditworthiness of a country.
A rating of BBB- is one notch above official Junk status. This is how far our nation has fallen under the PNM. That “plus” Rowley trivializes took T&T decades to attain, representing over 10 years’ worth of economic improvement and development.