Secretary of Finance and Enterprise Development of the Tobago House of Assembly (THA) Joel Jack is part of the local delegation accompanying Finance Minister Colm Imbert on an international multi-city visit to raise funds to finance Government’s spending for fiscal 2016.
Jack, according to a statement, is representing Tobago’s interest. The team left yesterday.
The Finance Secretary said apart from the technical aspects of the meetings and presentations he would also assist in marketing T&T as a viable investment destination to international investors.
He said the mission was a critical component for encouraging wide investment and investor participation in the bond sales.
Thus far, he added, the Government had already raised $3 billion through bond sales on the local market and that initiative would further serve to finance expenditure going into 2017.
He said despite the economic issues raised as a result of declining energy prices and global uncertainity “we are working to secure the continued development of the nation. I am confident that with the team assembled, we will achieve our targets.”
The mission is targeted to raise US$1 billion through the sale of ten to 12-year international bonds to finance the fiscal budget 2016.
Jack will accompany the team which will lead the Los Angeles and New York legs of the mission. In order to expedite the process, another expert team will be targeting investors in Boston and London.
Presentations will be made to premier international banks and investors.