This report covers s&p affirms t&t's rating, with key details and context.
Standard & Poor’s (S&P) recently affirmed Trinidad and Tobago’s investment grade rating at BBB-, however, they revised the country’s outlook from stable to negative. The affirmation came due to the long-established democratic institutions, economic stability, favourable external profile and buffers, and a strong external creditor position supported by the Heritage and Stabilisation Fund (HSF). However, the revised outlook is attributed to the need for reforms to enhance fiscal sustainability and the importance of economic diversification. The government views this revision as a call to action, acknowledging stagnant GDP growth and ineffective past policies for diversification. Finance Minister Davendranath Tancoo emphasised the need for transformative reforms, fiscal discipline, and long-term growth. The government’s strategy is to accelerate economic diversification, requiring a comprehensive strategy, coordination, and fiscal discipline. Under Prime Minister Kamla Persad-Bissessar’s leadership, there is a commitment to decisive action, aiming to build a stronger, sustainable Trinidad and Tobago for future generations.
s&p affirms t&t's rating,: key developments so far.
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