Thursday, January 18, 2018

Overvalued TT$ slowing recovery*

IMF country report:

The International Monetary Fund (IMF) says that keeping the TT dollar overvalued is slowing this country’s pace of economic recovery.  In its country report on T&T released yesterday, the Washington-based lender of last resort said the TT dollar is overvalued “with estimates ranging between 23.6 and 48.5 per cent”, and that a “significant exchange rate adjustment would help restore competitiveness, external and foreign exchange market balance, help counteract the adverse impact of fiscal consolidation on growth, and allow for higher consumption and national welfare in the long run.”

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