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Dear Editor: Diversification, not the Dragon, is key for T&T’s economic survival—but here’s why it has eluded us
['Letters To The Editor', 'Andrea Baptiste', 'Brian Carlton Romain', 'Play Football', 'Mohan Ramcharan', 'Mark Spencer']
Wired868
Dear Editor: Diversification, not the Dragon, is key for T&T’s economic survival—but here’s why it has eluded us“[…] The Ministry of Finance website provides budget statements from 2002 onwards.
This plan also sought to strengthen technical knowledge in the agriculture and manufacturing sectors, and use energy revenues to fund diversification efforts.
The 1980s and early 1990s were difficult periods for T&T as the energy sector took a hit.
A thorough examination of the past 65 years of diversification efforts would shed light and mitigate the chances of reproducing the same mistakes.
A recent (2024) IMF research report offers some lessons based on the diversification efforts of six developing countries: Costa Rica, Gabon, Georgia, India, Senegal, and Vietnam.