REVIEW OF THE ECONOMY 2013
3
SUSTAINING GROWTH, SECURING PROSPERITY
EXCHANGE RATES/FOREIGN
EXCHANGE MARKET
49
MONEY SUPPLY AND COMMERCIAL
BANKS’ DEPOSITS AND CREDITS
51
INTEREST RATES
51
LIQUIDITY
53
FINANCIAL SECTOR PERFORMANCE 53
CAPITAL MARKET ACTIVITY
53
REGULATORY DEVELOPMENTS
57
LEGISLATIVE DEVELOPMENTS
57
TRADE AND PAYMENTS
59
BALANCE OF PAYMENTS
59
CURRENT ACCOUNT
59
CAPITAL ACCOUNT
59
FOREIGN RESERVES
59
HERITAGE AND STABILISATION
FUND (HSF)
60
BALANCE OF VISIBLE TRADE
60
CARICOM TRADE
60
CARIFORUM ECONOMIC
PARTNERSHIP AGREEMENT
61
TRINIDAD AND TOBAGO/GUATEMALA
PARTIAL SCOPE AGREEMENT
61
CARICOM/CANADA TRADE
NEGOTIATIONS
61
DRAFT CARICOM FINANCIAL
SERVICES AGREEMENT
61
CENTRAL GOVERNMENT
OPERATIONS
35
OVERVIEW
35
REVENUE
36
EXPENDITURE
37
FINANCING
39
PUBLIC DEBT AND DEBT SERVICE
39
TRINIDAD AND TOBAGO
CREDIT RATINGS
42
MOODY’S INVESTORS SERVICE
42
STANDARD & POOR’S RATINGS
SERVICES
44
CARIBBEAN INFORMATION AND
CREDIT RATING SERVICES LIMITED
(CARICRIS)
45
REST OF THE NON- FINANCIAL PUBLIC
SECTOR OPERATIONS
46
OVERVIEW
46
CASH OPERATIONS
46
CURRENT TRANSFERS TO STATE
ENTERPRISES & PUBLIC UTILITIES
47
CAPITAL EXPENDITURE
47
CAPITAL TRANSFERS FROM CENTRAL
GOVERNMENT
48
THE MONETARY SECTOR
49
MONETARY CONDITIONS
49
CENTRAL BANK OPERATIONS
49
CONTENTS
