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HSF value unchanged says Imbert

Finance Minister, Colm Imbert says the value of the Heritage and Stabilization Fund is the same as when government inherited it back in 2015.

In fact, Imbert confirmed that currently, the fund has noted an increase by 16 per cent.

Speaking during a media briefing on Monday morning, Minister Imbert took aim at a recent media report suggesting that the fund had incurred a loss of over $US900m in 2022.

Imbert noted that the publication lacked proper analysis and context.

He said currently, the net value of the fund is an estimated $US5.5bn.

He noted that geopolitical volatility and rising inflation impacted global markets last year and that the loss incurred was not unique to Trinidad and Tobago.

According to the Minister, despite withdrawals totaling $US1.9bn over the last eight years, the fund has managed to generate $TT12bn since 2015.