T&T's Williams: we can withstand recession

Trinidad and Tobago can accommodate a moderate level of deficit financing and withstand recession, said Ewart Williams, the governor of the Central Bank of Trinidad and Tobago.

Williams said that the country had low and manageable levels of debt, and that its banking system was robust and well-capitalised with a low level of non-performing loans. At $9m, the central bank's stockpile of foreign-exchange reserves was more than adequate.

He also said that too much deficit financing could add to

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