As the longest-ever government shutdown in United States history continues, there are warnings that T&T and other countries in the Caribbean could be affected.
Economist Dr Ronald Ramkissoon said the shutdown can create greater economic uncertainty in the region and he is urging this country’s foreign affairs officials to pay closer attention to issues which might directly affect trade and immigration.
“While the world, the Caribbean included, is more and more turning to developed economies for trade, dependence on North America and Europe is still critical for this region. As such, if the situation in the US worsens there will be implications for the Caribbean,” he said.
Ramkissoon said while in the short term there might not be any significant impact, over the long term, foreign direct investment (FDI) and other areas of the Caribbean and T&T’s economy can be affected.
“The developed world is still struggling to achieve strong and sustainable growth and failure in fiscal management in the US can only make the situation worse for that country and all its trading partners,” he said.
CEO of the T&T Chamber of Industry and Commerce Gabriel Faria said as the shutdown continues it’s inevitable that it’s going to have an impact on those conducting business with the various federal authorities in the US.