| Trinidad & Tobago, the Caribbean’s largest oil and natural gas producer, joined Qatar, Russia and other energy-rich nations by tapping its sovereign wealth fund after low oil prices left the government with a budget shortfall, Finance Minister Colm Imbert said Friday.
The twin-island country, located off the coast of Venezuela, dipped into its $5.5 billion (Dh20.2 billion) Heritage and Stabilisation Fund for the first time since it was created in 2007, withdrawing $375 million. “The purpose of this fund is to offset serious shortfalls in revenue in periods of depressed petroleum prices,” Imbert said during a session of Parliament in Port of Spain...............................................Full Article: Source
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