This article summarises the total Public Money spent on this CL Financial bailout and also outlines some further concerns.
CLF BAILOUT PAYMENT SUMMARY
| COST DETAIL | AMOUNT |
|---|---|
| CLICO | $15,833,458,958.00 |
| CIB | $1,870,659,526.00 |
| BAICO | $1,637,387,140.00 |
| CMMB | $736,079,577.00 |
| Interest & Finance | $5,802,921,235.96 |
| Accountants | $15,212,319.62 |
| Attorneys | $37,459,864.43 |
| Bankers | $7,934,991.40 |
| Stockbrokers | $6,624,173.58 |
| Services & Supplies | $2,410,000.57 |
| TOTAL | $25,950,147,786.56 |
Source – Correspondence with Finance Ministry PS
Various payment summaries and the CL Financial Management Accounts (unaudited) for 2015, 2016 and 2017 were provided thus far in response to my requests for information of 4th May 2018. Notwithstanding those details, the Ministry is yet to respond substantively to my requests, so I have instructed my attorneys to take the necessary steps to settle this request for information.
In January 2009, this bailout started with a $5.0 Billion estimated cost. In October 2010, we were told that $7.3 Billion had been spent and that a further $7.0 Billion was needed to pay all the claims – a total of $14.3 Billion. A compilation of the Ministry’s summary data, on which I am relying, show a total of $25.95 Billion in Public Money spent at this stage, taking no account of unsatisfied creditors.
What could possibly have accounted for this staggering increase in expenditure? Continue reading “CL Financial bailout – a summary”
Afra was part of a distinguished panel of speakers at a pre-budget forum discussing the subject ‘Understanding Where We Are…Today – Trinidad and Tobago Economy”. This event was held by the Greater Tunapuna Chamber of Industry and Commerce. The secrecy of government-to-government or State projects are analysed with a conclusion that an educated population must be part of the diversity of views that become part of the modern national decision making process.
Afra Raymond is interviewed by Hema Ramkissoon on CNC3’s ‘Morning Brew’ on Monday 10th September 2018 to discuss the recently-announced 
The inescapable challenge for our national housing program is to provide sufficient affordable housing options of a decent quality. The HDC’s waiting-list is now in excess of 176,000 individual applicants, which excludes co-applicants or dependents. Over 90% of those applicants cannot afford a mortgage or to ever buy their own homes. They are just too poor to do so.
Afra Raymond, based on his research on the effectiveness and delivery metrics of the existing housing policy, was interviewed on the Power 102.1FM ‘Business Corner‘ by Sandrine Rattan on Housing Policy and outcomes.
This is the full CTV interview with Dionne Baptiste on the national housing policy and programme on 1st May 2018. Video courtesy CTV
Josanne Leonard interviewed Afra Raymond on Monday 12th June 2017 on how the three parts of the state work against the backdrop of constitutional issues such as the separation of powers, the quality of representation and the size, origin and role of the Cabinet. Video courtesy Office of the Parliament
Apart from the strong objections to the re-introduction of property tax, there are tantalising points emerging on the need for those taxes to be used to pay for local government services. Local government is one of the sectors which is in most frequent contact with the needs of communities, such as maintenance of drains and playing-fields; garbage collection; road repairs and many other such services.
Hema Ramkissoon on CNC3’s The Morning Brew spoke with Chartered Surveyor Afra Raymond about the Property Tax. Mr Raymond said the Tax is not a new tax. Video courtesy CNC3
AfraRaymond.net 