Amidst the recent revelation that Trinidad and Tobago’s Heritage and Stabilisation Fund (HSF) has reached its highest level in four years, Oropouche West MP Davendranath Tancoo has raised concerns about the government’s management tactics. The Ministry of Finance announced that the HSF’s net asset value had reached an impressive US$5.898 billion, despite a prior withdrawal of US$160.38 million. Tancoo, however, sees this as a ploy to divert attention from what he calls the PNM Government’s mishandling of the economy.
Here are some fresh perspectives on the issue:
- Tancoo criticized the timing of the announcement, amidst the General Election campaign, suggesting it was a desperate move by a politically influenced board to mask the country’s economic problems.
- He highlighted the disparity in growth rates of the HSF under different administrations, pointing out a significant increase during the period from 2010 to 2015 compared to the period from 2015 to 2024.
- Tancoo emphasized the need to consider external factors that could impact the fund’s performance, such as economic uncertainty, monetary policy changes, and geopolitical tensions affecting the stock market.
- He expressed concern over the government’s reliance on the HSF to offset foreign exchange challenges, warning of potential raids by the Minister of Finance to hide the true extent of the crisis.
As citizens, it is imperative to remain vigilant and informed about the management of the HSF and the government’s financial decisions. In a climate of economic uncertainty, transparency and accountability are crucial. Let us stay informed and engaged to ensure a stable and secure financial future for Trinidad and Tobago.
Leave feedback about this