Ministry of Finance (Trinidad and Tobago)

Overview

The Ministry of Finance is a Ministry in the Government of Trinidad and Tobago. The head of the ministry is the Minister of Finance and is appointed by the President of Trinidad and Tobago on the advice of the Prime Minister. The incumbent, Davendranath Tancoo was appointed on May 3, 2025, He replaced Vishnu Dhanpaul. The Minister in the Ministry of Finance is Senator Kennedy Swaratsingh, he was appointed on May 13, 2025, he is also the Minister of Planning, Economic Affairs and Development. The Ministry's Permanent Secretaries are currently Suzette Taylor-Lee Chee (2024), Michelle Durham-Kissoon (2016), and Dexter Jaggernauth (2023, Ag) with Yasmin Harris as Comptroller of Customs and Excise. The former Minister of Finance Vishnu Dhanpaul assumed office on March 17, 2025, succeeding Colm Imbert, who was minister from September 2015 to March 2025, Dhanpaul was appointed as minister following the appointment of Stuart Young as Prime Minister.

History

The first mention of The Ministry of Finance was in 1956 when an elected Minister of Finance would replace the Official Financial Secretary (British civil servant), before Trinidad and Tobago, gained independence from Great Britain in 1962. The first Minister of Finance was Dr. Eric Williams, which followed the Trinidad and Tobago general election, 1956.

Ministers

Eric Williams, 1957-1961 A.N.R. Robinson, 1961-1966 Eric Williams, 1966-1971 George Chambers, 1971-1974 Eric Williams, 1977-1981 George Chambers, 1981-1986 A.N.R. Robinson, 1986-1988 Selby Wilson, 1989-1991 Wendell Mottley, 1991-1995 Brian Kuei Tong, 1995-2000 Gerald Yetming, 2000-2001 Patrick Manning, 2001-2007 Karen Nunez-Tesheira, 2007-2010 Winston Dookeran, 2010-2012 Larry Howai, 2012-2015 Colm Imbert, 2015-2025 Vishnu Dhanpaul, 2025 Davendranath Tancoo, 2025-present

The Divisions of the Ministry of Finance of Trinidad and Tobago

(in alphabetical order)

Budget Central Tenders Board Communications Unit Customs and Excise Division Economic Management Division Financial Intelligence Unit General Administration Division Inland Revenue Division Investments Division National Insurance Appeals Tribunal Office Of The Supervisor Of Insolvency Public Private Partnership Unit Strategic Management and Execution Office (SMO) Treasury Division Treasury Solicitor’s Division Valuation Division

Law Enforcement Units

Trinidad and Tobago Customs and Excise Division: They are responsible for enforcement of customs and excise laws. The Financial Intelligence Unit of Trinidad and Tobago (FIUTT) became operational in February 2010. Their responsibilities are to implement the anti-money laundering and anti-terrorism policies of the Financial Action Task Force (FATF).

Responsibilities of the Ministry

The Ministry of Finance has responsibility for most fiscal matters relating to the government, several state bodies and personnel departments of various public services. Some of these are:

Actuarial Services Banking (Central and Commercial) Borrowing (Local and Foreign) Budgeting/Budgetary Control Consolidated Fund Customs and Excise Debt Management Divestments Double Taxation Treaties Economic Management Financial Intelligence Fiscal Policy and Monetary Policy Fiscal Matters Heritage and Stabilisation Fund Infrastructure Development Fund Inland Revenue Insolvency International Financing Investments Lotteries and Gaming National Insurance Pensions and Gratuities Personnel Department Matters relating to the role of the Minister of Finance as specified in various Acts governing the Public Service Public Procurement Public Sector Finance Management Special Funds State Enterprises (Corporation Sole) Strategic Planning and Execution Treasury Treasury Solicitor Valuation

Statutory Boards and Other Bodies

There are several Statutory Boards whose mandate fall under the Ministry. Some of whom are:

Central Tenders Board Deposit Insurance Corporation National Insurance Appeals Tribunal National Insurance Board National Insurance Property Development Company Limited National Lotteries Control Board Office of Procurement Regulation Trinidad and Tobago Securities Exchange Commission Trinidad and Tobago Unit Trust Corporation

State Owned Enterprises

The Ministry has responsibility for companies which are wholly owned, majority owned, minority owned and indirectly owned by the government. Some of these companies are:

Wholly Owned Enterprises

CLICO Trust Corporation Limited (CLICO Investment Fund) Export-Import Bank of Trinidad and Tobago Limited (EXIMBANK) First Citizens Holdings Limited Government Human Resource Services Limited Government Information Services Limited National Broadcasting Network Seafood Industry Development Company Limited Trinidad and Tobago International Financial Centre Management Company Limited Union Estate Electricity Generation Company Limited

Majority Owned Enterprises

Caribbean Airlines Limited National Enterprises Limited

Minority Owned Enterprises

Caribbean Investment Corporation DFL Caribbean Holdings Limited Trinidad and Tobago Development Finance Limited Trinidad and Tobago Mortgage Bank Limited (TTMB)

Indirectly Owned Enterprises

Caribbean Development Network Limited Caribbean Leasing Company Limited Caribbean Microfinance Limited Colonial Life Insurance Company Limited First Citizens Asset Management Limited First Citizens Bank (Barbados) Limited First Citizens Bank Limited First Citizens Brokerage and Advisory Services First Citizens Costa Rica S.A. First Citizens Financial Services (St. Lucia) Limited First Citizens Investment Services (Barbados) Limited First Citizens Investment Services Limited First Citizens Securities Trading Limited First Citizens Trustee Services Limited First Citizens (St. Lucia) Limited NEL Power Holdings Limited