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Trinidad: Employment up,saving deposits down

ECONOMISTS from the Canadian Imperial Bank of Commerce (CIBC), Canada’s fifth largest bank by assets, estimated late last week that Trinidad and Tobago’s (T&T) unemployment rate has returned to its 12-month high of 5.3 per cent. They also noted savings deposits in the local financial system are down 4.5 per cent.

CIBC said the T&T stock market index is also down for the year so far, and that, due to increased government borrowing, T&T also now has a heavier US dollar interest-repayment burden.

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