Ministry of Finance

Jeremy Matouk hosted a live panel discussion on the CLICO bailout on Monday 4th Oct 2010 on CNC3.  The guests included Junior Finance Minister Dr Patrick Watson, CLICO Policyholders Group Deputy Chairman Peter Permell and President of the Association of T&T Insurance Companies (ATTIC) Douglas Camacho.

Folks have started referring to the CLICO EFPA product as a Ponzi scheme.  While it may have been a Ponzi scheme at the time Mr Lawrence Duprey approached the Central Bank/Ministry of Finance for help in Jan 2009, my theory is that it didn't start out that way.  This theory is the subject of this article.

The Hon. Minister of Finance, Mr Winston Dookeran, has reportedly claimed that no deposits were made into T&T's Heritage and Stabilisation Fund (HSF) in 2009/2010.  The ex-Finance Minister, Mrs Karen Nunez-Tesheira, has responded that Mr Dookeran's allegation was wholly inaccurate, and made some other claims regarding the HSF during her tenure as Minister.  Both statements contain inaccuracies.

As someone who is constantly looking for information on Trinidad and Tobago's Property Tax Reform - and since we at KnowTnT.com have been keeping an eye on it and writing about it - it is somewhat humorous that there has been an announced extension on Property Tax Reform. And even some information: 

When I went over the facts that were mailed out by the Ministry of Finance regarding Property Tax Reform, I immediately saw a few weak points from my own personal perspective. First, I have to give some background (without giving out too much personal information).

A Practical Look At The Old System

The property tax reform (2009) in Trinidad and Tobago has received a lot of attention in the media, and to date there hasn't been a lot of information on it. Instead of citing specific articles, I'll just point to the smorgasbord available through Google.