An independent supplement distributed in the Guardian on behalf of The Report Company, who takes sole responsibility for its content. February 2nd 2016 03 Getting the economy back on an even keel have hit the country hard, especially coming coming especially hard, country the hit have 18 months past over the prices gas natural in fall percent 45 and prices oil crude in plunge of GDP, percent 70 percent 40 the for around accounting exports economy. energy With the of reviving task the by aback taken be to reason had have might well he office took ’s and minister prime new Trinidad when but or otherwise, seismic shocks, to ger no stran is Rowley Keith avolcanologist, As OVERVIEW Writer: AndrewSim www.the-report.com business. its about goes country the ways change in the asea for opportunity the sees nation Caribbean this of government new the tempest, the daunted being by than rather But spirits. of Trinidad steeliest the and Tobago test would such as country in an energy-exporting prices in oil and gas downturn dramatic The change of winds the Heeding Tobago and Trinidad newed growth ances, ’s new government is striking abalance belt-tightening between and re OVERVIEW Prime Minister Keith Rowley Keith Minister Prime

Facing the triple whammy of aplunge in oil prices, and gas falling output and fiscal imbal EXCLUSIVE INTERVIEWS. INSIGHTFUL ANALYSIS. ANOTHER LOOK. ANOTHER ANALYSIS. INSIGHTFUL INTERVIEWS. EXCLUSIVE FEATURES: BUSINESS GLOBAL 04 CULTURE Music, magic and magic mystery Music, - in the past five years. years. five past the in of over10 output percent in ofon top afall If that were not enough, his People’s National People’s National his not enough, were that If Prime minister of Trinidad and Tobago and Trinidad of minister Prime Keith Rowley us” facing challenges the are“We not daunted by 05 Tobago up gears for development FOCUS ON TOBAGO ON FOCUS ter five years in opposition, also found itself itself found also in opposition, years five ter af elections general September the in power to restored government, (PNM) Movement with the legacy of a blowout in government government of ablowout in legacy the with the painful conditions imposed in return for return in imposed conditions painful the of nightmare the evoking 1980s, the in was it as in called being IMF of the spectre the raised has That deficit. of payments balance a fuelled has that country import-hungry an in reserves on foreign drain and a finances 06 TOURISM The true Caribbean true The Report the-report.com The company - - - 2 _TRINIDAD AND TOBAGO TRINIDAD AND TOBAGO _ 3

Dr Keith Christopher Rowley: Cometh the hour, cometh the man Keith Rowley, Trinidad’s new prime minister, has been elected into office as the country is facing hard times. The people obviously feel that he is up for the challenge. He has pledged his government will deliver transparency and accountability in the arduous task of restoring prosperity. Whether he suc- ceeds or not will not be for want of effort nor competence

Brought up in Tobago by dot- to overcome the challenges ing farming grandparents, the country is facing. “It is the 66-year-old prime min- times like these that good, ister still delights in nature, old-fashioned, honest lead- gardening and hiking as well ership is the best tool avail- as being an eager golfer and able to a nation,” he said. art collector. His wife Sharon says that his upbringing forged his personality. He himself says he was imbued BIO 2 by a sense of mission; of progress on a personal and 1981 communal basis. Rowley first ran for political Whilst not noted for his office in 1981, where he con- brilliant communication tested the Tobago West seat skills, this doctor of geology does have the well-earned 1991 reputation of being an able Elected member of the House administrator, perhaps of Representatives for Diego something Trinidad and Martin West in the national parliament Tobago is in most need of at the moment. He set out his stall in a speech to the 2010 Named head of the PNM and nation at the end of last year leader of the opposition in 1. The view over King’s Wharf in Port in which he invited everyone parliament of Spain. Photo: Lidian Neeleman | to pull together as a nation Shutterstock.com 2. Parlatuvier Bay in Tobago. Photo: Jorge Maraima 3. A family celebrates Emancipation Day, commemorating the abolition of slavery 1 3 in . Photo: Salim October | Shutterstock.com “It is times like these that good, a bailout, a fate Rowley has pledged to avoid. enabling it to act as a bridge for China into the economy and get the country’s fiscal house order to do so, the government needs to sector funds, with a view to boosting old-fashioned, “This administration will not take this coun- Latin America. That initiative would require back in order. Reducing the increase of public steer a path between the Charybdis of the labour market. try back to that kind of situation,” he said. the upgrading of the country’s broadband debt, which rose to an estimated 46.3 percent spending its way out of the crisis at the On the international front, after gain- honest Under those circumstances, it might “have network, which would further open up the of GDP by the end of September from 32.2 expense of future generations and the ing independence in 1962, Britain re- leadership is been better to have lost the general elections,” development of information and communica- percent at the end of 2010, is a key priority. In Scylla of over-zealous austerity. mains a key partner for Trinidad and the best tool the 66-year-old Rowley said in a sober address In his speech to the nation, Rowley Tobago. The United Kingdom is a to the nation on 29th December. But he has- made it very clear that he is aware of major tourist market for the Carib- available to a tened to add that he is “not daunted” by the the balancing act involved as his gov- bean nation, while UK companies nation” “The immediate task of Guatemala TRINIDAD challenge. Honduras AND TOBAGO ernment works to “steady the ship and such as BP are important play- Given the situation, Trinidad and Tobago stay the course.” While announcing ers in the energy sector, whose Keith Rowley the Rowley administration Costa Rica needs to diversify its sources of income in or- Panama Venezuela a seven-percent cut in operating ex- main markets are in North Prime minister of Trinidad Guyana and Tobago der to protect it from the fickle winds of the Colombia penses by all state bodies and warn- America. Events also suggest over the next two years is to Suriname energy markets, and progress is already being ing of “sacrifices” ahead, including there is room for closer ties with made. Eco-tourism is being developed on the stabilise the economy” Ecuador an effective five-percent cut in govern- Latin America: Rowley unveiled in his serene island of Tobago – the smaller of the two ment officials’ wages to reduce the speech that Trinidad and Tobago has making up this tropical Caribbean country, Brazil public deficit and plans to tap up to been holding talks with Venezuela Prime Minister Keith Rowley delivers a speech during located outside the hurricane belt. Meanwhile, $1.5 billion from the rainy day her- on the development of the Loran- his swearing-in ceremony in the country’s status as an international finan- tion technology-based activities. itage and stabilisation fund, he also Manatee gas field, which straddles the capital, Port of Spain, on cial centre leverages upon its strategic location But the immediate task of the Rowley admin- unveiled a housing-construction in- the maritime border between the close 9th September 2015. Trinidad and Tobago enjoys a privileged geographical position be- Photo: Gao Xing/Xinhua Press/ between North and South America, as well as istration over the next two years is to stabilise tween North and South America vestment drive that calls for private neighbours. Cordon Press

Tim Stew sat in front of a group of 40 businessmen ability and transparency are very much Budget priorities ister, Colm Imbert, is the fact that previous administration by overall British high commissioner and we talked about prosperity, but the on people’s minds, as is a settling of the biggest allocation is for na- belt-tightening along with the to Trinidad and Tobago first thing they wanted to talk about was the crime situation. What I sense here Paying to ensure tional security, surpassing that set reform of the fuel subsidy regime, security, crime and justice. We offer sup- is optimism. The feeling so far is that crime doesn’t pay aside for education. This a clear which has been a drain on govern- Named high commissioner in July 2015, port to the government here in this area there is strong leadership in place, with indication that the administration ment coffers. At the same time, the the targeted fiscal Tim Stew aims to build on the two na- because it impacts citizens of both our a strategic vision. The first budget of the new govern- of Prime Minister Keith Rowley is personal income tax allowance is tions’ strong historic partnership 1.7%deficit as a propor- countries. ment seeks to address the deficit bent on cracking down on what being increased for those in the and criminal activity Rowley described as “the chronic low-income bracket. What role can the UK play in Trinidad tion of GDP for 2016, What would be your message to UK in- “My task is to develop a and rampant criminal conduct in Tobago is also to receive 4.4 and Tobago’s development path? vestors looking at Trinidad and Tobago? progressive partnership with One of the standout items in the Trinidad and Tobago.” percent of the national budget down from 4.2 per- We are looking out for UK interests of We have seen from the new government The budget also plans to trim the in recognition of the island’s devel- course, but in ways which are not exclu- a determination to deliver what the the country, its government 2016 interim budget presented in cent in 2015 sive with Trinidad’s interests. I recently people have been asking for. Account- and people” October by the new finance min- fiscal deficit inherited from the opment needs.