According to the website https://countrymeters.info/en/Trinidad_and_Tobago/economy, Trinidad and Tobago’s debt in US$ is 21.311 billion and Jamaica GDP is US$ 25.891 billion.
This gives a debt to GDP ratio of 82.3 per cent. This is phenomenal.
The Global Financial crisis has not climaxed and things will get worst before they get better. In 2006 in the United States, people started to default on their mortgage loans but it did not climax until 2008.
Similarly In the US the financial crisis is just beginning with the start of bankruptcies of companies like Brooks Brothers, Hertz and JC Penny and the worst is yet to come. China––the world’s second largest economy is also weak. China recently nationalised nine financial institutions.
Trinidad and Tobago needs to strengthen its internal economy and increase food security by investment in agriculture.
The Atlanta Fed projects that second quarter gross domestic product in the United States will decline by 52.8 per cent.
There are still protests in many US states over the George Floyd killing by police.
On July 20, President Donald Trump said he will send Federal agents to major cites where the protests are occurring.
The major source of tourist and remittance for T&T is the US.
The US is also T&T’s number one trading partner.
Get ready, it is going to be a bumpy ride.