11th REPUBLICAN PARLIAMENT: 5th SESSION

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House of Representatives

Motions

1st Session of the 11th Republican Parliament

Increase of Loan Ceiling under the External Loans Act

WHEREAS it is provided by section 3(1) of the External Loans Act, Chap. 71:05 that for the purpose of financing general development in Trinidad and Tobago or of repaying borrowings effected for the general development, the Minister of Finance on behalf of the Government may borrow money externally in such sum or sums not exceeding in the aggregate fifty million Trinidad and Tobago dollars or the equivalent thereof in any foreign currency or currencies and thereafter he may borrow such further sum or sums as may from time to time be specified by Resolution passed in the Senate and the House of Representatives:

AND WHEREAS by Resolution passed in the House of Representatives on the 21st January 1972, and in the Senate on the 25th January 1972, the Minister on behalf of the Government was authorized to borrow externally in further sums not exceeding in the aggregate the equivalent of twenty-five million Trinidad and Tobago dollars in any foreign currency:

AND WHEREAS by Resolution passed in the House of Representatives on the 19th January 1973, and in the Senate on the 23rd January 1973, the Minister on behalf of the Government was authorized to borrow money externally in further sums not exceeding in the aggregate the equivalent of fifty million Trinidad and Tobago dollars in any foreign currency:

AND WHEREAS by Resolution passed in the House of Representatives on the 13th May 1977, and in the Senate on the 17th May 1977, the Minister on behalf of the Government was authorized to borrow money externally in further sums not exceeding in the aggregate the equivalent of eight hundred and seventy-five million Trinidad and Tobago dollars in any foreign currency:

AND WHEREAS by Resolution passed in the House of Representatives on the 20th July 1979, and in the Senate on the 7th August,1979 the Minister on behalf of the Government was authorized to borrow money externally in further sums not exceeding in the aggregate the equivalent of four billion Trinidad and Tobago dollars in any foreign currency:

AND WHEREAS by Resolution passed in the House of Representatives on the 5th June 1989, and in the Senate on the 6th June 1989, the Minister on behalf of the Government was authorized to borrow money externally in further sums not exceeding in the aggregate the equivalent of one thousand million Trinidad and Tobago dollars in any foreign currency:

AND WHEREAS by Resolution passed in the House of Representatives on the 12th July 1993, and in the Senate on the 13th July 1993, the Minister on behalf of the Government was authorized to borrow money externally in further sums not exceeding in the aggregate the equivalent of three billion Trinidad and Tobago dollars in any foreign currency:

AND WHEREAS by Resolution passed in the House of Representatives on the 8th September 2011, and in the Senate on the 10th September 2011, the Minister on behalf of the Government was authorized to borrow money externally in further sums not exceeding in the aggregate the equivalent of six thousand million Trinidad and Tobago dollars in any foreign currency:

AND WHEREAS it is necessary to borrow further sums of money for the purpose of financing general development in Trinidad and Tobago:

BE IT RESOLVED that for the purpose of financing general development in Trinidad and Tobago, the Minister of Finance on behalf of the Government is hereby authorized to borrow money externally in further sums not exceeding in the aggregate the equivalent of fifteen thousand million Trinidad and Tobago dollars in any foreign currency.

(By The Minister of Finance)

First Debated: 04-Dec-2015
Approved on: 4-Dec-2015
8-Dec-2015
Speakers in the:
House of Representatives
04-Dec-2015 House of Representatives Debate Day 1 - View Resolution here PDF icon (23.3 kb) | Hansard PDF icon (791.0 kb)
Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
Dr. Bhoendradatt Tewarie, MP [Caroni Central] [Opposition Member]
Hon. Marlene McDonald, MP [Port-of-Spain South] [Minister of Housing and Urban Development]
Dr. Surujrattan Rambachan, MP [Tabaquite] [Opposition Member]
Hon. Anthony Garcia, MP [Arima] [Minister of Education]
Mr. Prakash Ramadhar, MP [St. Augustine] [Opposition Member]
Hon. Maj. Gen. Edmund Dillon, MP [Point Fortin] [Minister of National Security]
Mr. Rodney Charles, MP [Naparima] [Opposition Member]
Hon. Terrence Deyalsingh, MP [St. Joseph] [Minister of Health]
Mr. Barry Padarath, MP [Princes Town] [Opposition Member]
Senate
08-Dec-2015 Senate Debate Day 1 | Hansard PDF icon (1,082.0 kb)
Hon. Colm Imbert, MP [Diego Martin North/East] [Minister of Finance]
Sen. Wade Mark [Opposition Senator]
Sen. Dr. Dhanayshar Mahabir [Independent Senator]
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