Re: “We’re Committed to Economic Growth”By: Aisha Espey, Research Associate at the Council on Hemispheric Affairs
Your May 20th article, “We’re Committed to Economic Growth,” did a first rate job of reiterating Trinidadian Prime Minister Kamla Persad-Bissessar’s focus on social programs, and nicely summarized her keynote address to the United Nations, “State of the World Economy.” However, the article failed to highlight the Prime Minister’s emphasis on the magnitude of economic opportunities Trinidad and Tobago is currently enjoying, thus making the small country an unexpected model of economic success.
Foremost, Persad-Bissessar utilized the UN talks to proudly announce her country’s particularly bright economic outlook for the upcoming year. Referencing recent IMF predictions for economic growth in 2012, the Prime Minister reiterated that while global economic growth is anticipated to decrease by .5 percent, analysts expect Trinidad and Tobago’s economy to shirk this trend and grow 3 percent within the next year.
Moreover, the article failed to mention the attention Persad-Bissessar directed towards Trinidad and Tobago’s patent “homegrown solutions” to economic woes, such as domestic investment projects, as potential models for resolving worldwide economic underperformance. In conjunction with these endogenous remedies, the Prime Minister announced plans to bolster the country’s economic situation with foreign direct investments, utilizing the weak TTD to entice investors.
Prime Minister Persad-Bissessar’s optimism for the Caribbean‘s strongest economy, and her insistence that Trinidadian growth serve as an example for struggling economies, are noteworthy. Failure to mention this is a loss to prospective international investors and world leaders alike.
With the utmost respect,
Research Associate at the Council on Hemispheric Affairs