Annual Report - Central Bank of Trinidad and Tobago

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2023 Annual Report

Explore the Central Bank of Trinidad and Tobago’s comprehensive overview of the nation’s economic and financial developments in 2023, including analyses of monetary policy, financial stability, and strategic initiatives, providing insights into the country’s economic trajectory and the Bank’s role in fostering growth and stability.

Download our 2023 Annual Report

Annual Report Highlights

Strategic Plan Achievements

The Bank registered major successes in the execution of its 2021/22 – 2025/26 Strategic Plan.

Strengthened Internal Operations

The Bank fortified internal operations through improvements in cybersecurity and the implementation of the staff survey action plan.

Monetary Operations Enhanced

On the monetary front, the Bank implemented an electronic cheque processing system and further streamlined currency operations.

Support for Communities and the Arts

Contribution to disadvantaged communities and the arts deepened through support to various institutions and NGOs.

Cybersecurity and Financial Stability

A cybersecurity framework and Basel II requirements for licensees were implemented in the financial stability sphere. The Bank also exited from emergency control over two troubled insurance companies after a span of 13 years.

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The Central Bank kept its policy rate unchanged during 2023 in the context of low in ation.

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The ongoing post-pandemic recovery led to improvements in domestic labour market conditions.

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Trinidad and Tobago’s external current account recorded a narrowed surplus over the rst nine months of 2023 relative to 2022 due mainly to lower energy export earnings.