A plan by the Trinidad and Tobago government to increase its borrowing limit by 50 billion TT dollars has sparked a furore, with Opposition leader Kamla Persad-Bissessar declaring this a cause for serious concern.

The measure would be facilitated by three motions that are up for debate in Parliament tomorrow.

“Because of the borrowing done over the last five years, we are very close to the limits in all three (Acts) and without these increases, we would be unable to pursue T&T’s Development Programme or finalise a number of loan arrangements entered into by the previous government,” Minister of Finance Colm Imbert explained as he sought to defend the move.

He had earlier warned that the country’s development programme would likely be affected by falling oil prices.

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