标签： Trinidad and Tobago

Since the announcement of Davendranath Tancoo’s October 13 budget, the focus has shifted from whether the government will honor its promise of a 10% pay increase for Public Services Association (PSA) workers to the specifics of how and when this commitment will be fulfilled. The ongoing negotiations between PSA President Felisha Thomas and officials from the Office of the Chief Personnel Officer (CPO) have been marked by tension and uncertainty. On November 10, Thomas expressed frustration, accusing the CPO of delaying the process and issuing an ultimatum: ‘Ten per cent and nothing else.’ CPO’s Dr. Daryl Dindial defended the need for a comprehensive understanding of the economic challenges, emphasizing the importance of due process. By November 21, the PSA received a formal letter outlining a 10% offer for specific periods, but details remain undisclosed. Acting CPO Wendy Barton reiterated the significance of economic context in public service negotiations. Meanwhile, Tancoo hinted at a multifaceted approach to addressing pay arrears, estimated at $730 million, with additional annual costs of $214 million. The prolonged negotiations may provide fiscal flexibility amid a projected $3.9 billion deficit, highlighting the delicate balance between fulfilling promises and managing economic constraints.

In the 1960s, Air Canada and the Canadian government played a pivotal role in bolstering British West Indian Airways (BWIA) to become the Caribbean’s regional carrier. By 1967, the Trinidad and Tobago (TT) government had advanced $15,255,816 to sustain BWIA’s operations, recognizing the urgent need for fleet expansion and financial restructuring. However, BWIA faced more than just financial challenges. A 1966 memorandum from BWIA’s chairman highlighted critical deficiencies in top management, engineering, planning, and accounting expertise, as well as a severe shortage of experienced pilots. The chairman concluded that BWIA needed a financially strong partner with the ability to provide managerial and staffing support. Acting on this advice, the TT government sought suitable partners, leading to a proposal from Canada on May 23, 1967. The Canadian government, after reviewing BWIA’s situation, proposed a comprehensive corporate association between Air Canada and BWIA. Key elements of the proposal included designating BWIA as the regional carrier for the Commonwealth Caribbean, allowing Canada to acquire up to 49% of BWIA shares, appointing a majority of BWIA’s board of directors, and negotiating multilateral air agreements. The TT government, optimistic about BWIA’s potential, had envisioned it as a regional carrier since 1961, when it salvaged the airline. Despite initial efforts to persuade other West Indian territories to join BWIA, the airline’s transformation into a regional carrier was a complex and collaborative endeavor involving multiple governments and stakeholders.

A recent analytical report by the Inter-American Development Bank (IDB) has revealed that Trinidad and Tobago (TT) experienced the slowest remittance growth in the Caribbean in 2025, lagging significantly behind its regional counterparts. Remittances, which refer to funds sent by individuals working or living abroad to their families back home, serve as a crucial financial lifeline for households across the region. These transfers are particularly vital in low- and middle-income countries, helping families manage living expenses and providing economic stability during challenging times. According to the IDB’s ‘Remittances to Latin America and the Caribbean in 2025’ report, TT saw a mere 1.3% increase in remittance inflows, the lowest among all Caribbean nations analyzed. In contrast, the broader Caribbean region recorded a 9.2% growth, driven by strong inflows to the Dominican Republic, Haiti, and Jamaica. TT’s minimal improvement starkly contrasts with the region’s overall momentum. The Caribbean collectively received $20.883 billion in remittances in 2025, accounting for 12% of all transfers to Latin America and the Caribbean. While the report did not provide a specific figure for TT, it identified the country as one of the smaller recipients in the subregion. The study highlighted general factors influencing Caribbean remittance trends, such as labor market participation in the U.S. and the financial strategies of migrant households, but did not pinpoint specific reasons for TT’s weak performance. Instead, TT was grouped with economies where remittance inflows remain modest and have shown limited growth in recent years. The IDB emphasized that remittances continue to play a stabilizing role in household income across the region, particularly in countries with growing diaspora communities that maintain strong financial ties with their families. For many households, these transfers represent essential monthly contributions from relatives working abroad, quietly but significantly impacting daily expenses. The report is part of the IDB’s ongoing efforts to monitor cross-border family transfers, which are essential for understanding consumption patterns, vulnerability, and the financial behavior of migrant populations.

In anticipation of the COP 30 summit earlier this month, the Association of Chartered Certified Accountants (ACCA) introduced a groundbreaking unified framework for responsible investment. This innovative approach seamlessly integrates sustainability considerations into strategic decision-making processes. Developed in collaboration with the universities of Witwatersrand and Leeds, the framework, titled ‘Understanding Responsible Investment,’ provides a comprehensive yet concise guide linking environmental and social issues to capital allocation and investment decisions. The framework outlines eight essential steps that organizations can follow to align their financial success with environmental and social responsibilities. Sharon Machado, ACCA’s head of sustainable business, emphasized the significance of this development, stating, ‘Despite the growing urgency to address climate change and social inequity, a unified approach to responsible investment has been lacking. Our collaborative effort has now filled this gap, offering a model that systematically incorporates all risks and opportunities into investment analysis.’ The framework includes key components such as ESG integration, sustainability frameworks, screening methods, investor proactivity, strategic purpose, investment options selection, regulatory requirements, and outcome measurement. Dannielle Cerbone, an associate professor at the University of Witwatersrand, praised the report for its academic rigor and practical relevance in an increasingly complex investment landscape. The report also highlights the evolving nature of sustainability reporting and the need for investees to balance financial, ecological, and social value creation to better access responsible finance. Machado expressed hope that the report would serve as a practical tool for investors and companies, particularly in assessing the impact of sustainability-related factors on organizational valuation—a task that remains challenging.