TT owes China $2.229 billion in loan debts

Trinidad and Tobago currently owes the People's Republic of China TT$2.229 billion dollars, according to Minister of Finance Colm Imbert.

The debt is in the form of loans and financing facilities as at January 31st, 2018.

The debt includes the construction of the National Academy for the Performing Arts and Southern Academy for the Performing Arts.

The outstanding debts from loans for the two are $440,295,212 and $180,835,533 respectively.

The debt own on a loan for the construction of the Couva Hospital currently stands at $924,511,500.

The government is also owing on a finance facility that allowed for the construction of six sporting facilities.

That debt currently stands at $545,157,619.

Then there is a debt for the purchase of a multi-purpose patrol vessel based on a credit facility, amounting to $138,609,487.

That brings the figure to $2.229 billion.

However, the Minister told the Parliament that all these figures do not include arrears.

Among the arrears is a claim by left by the former administration for canceling the aluminum project, which amounts to US$201 million (TT$1.4 billion).

That issue is currently before the courts.

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