Fiscal challenges a worry for Trinidad and Tobago – report

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The Central Bank for Trinidad and Tobago has warned recent credit rating downgrades could lead to “higher borrowing costs” on the international market, its latest annual report shows.

In April, Standard & Poor’s lowered the longer-term rating of the country to BBB+ but said the outlook was “stable”. A few days later, Moody’s downgraded Trinidad and Tobago’s rating to Baa3.

“These rating actions which, according to the rating agencies, were based on limited fiscal consolidation efforts, a rise

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