Reconsider Borrowing Policy and outline plans to fulfil Debt Servicing Obligations
Senate - 1st Session - 12th Republican Parliament
WHEREAS it is recognized that rising levels of domestic and foreign debt may negatively impact this countryâ€™s socio-economic development;
AND WHEREAS it is recognized that because of Governmentâ€™s policies, the working population has been experiencing the effects of these rising debt levels;
AND WHEREAS international credit rating agencies have cautioned about Trinidad and Tobagoâ€™s future borrowings, given the economic constraints caused by the COVID-19 pandemic;
BE IT RESOLVED that the Government reconsider its borrowing policy in light of this countryâ€™s rising Debt-to-GDP ratio and the possible negative impact of same on the countryâ€™s socio-economic development;
AND BE IT FURTHER RESOLVED that this Senate call on the Government to outline specific plans and programmes in respect of fulfilling its debt servicing obligations, in light of the economic constraints caused by the COVID-19 pandemic.
(By Senator Wade Mark)