T&T Political Environment Remains Vulnerable To Crime

• Fitch continues to highlight risks to Trinidad and Tobago’s (T&T) political stability stemming from the market’s high crime rate.
• Trinidad and Tobago’s political and security environment remains plagued by one of the highest crime rates in the world, underpinned by the presence of multiple large gangs and its proximity to drug trafficking hubs in Central America.
• Latest data from the Trinidad & Tobago Police Service (TTPS) reveals that the average number of crimes in the country in 2023 (excluding November and December) came in at 875.5, marginally exceeding the 2022 average of 875.
• Elevated crime risks will continue to cap the market’s growth potential by for instance discouraging tourism and disrupting business activity in the country.
• In the near term, upcoming general elections in 2025 may prompt the government to impose new measures to tackle rising crime in the country.
• More generally, however, Fitch believes that falling inflation and a substantial increase in minimum wage will bode well for social stability by improving living standards.

(Source: Fitch Solutions)