Trinidad and Tobago

First colonized by the Spanish, the islands came under British control in the early 19th century. The islands' sugar industry was hurt by the emancipation of the slaves in 1834. Manpower was replaced with the importation of contract laborers from India between 1845 and 1917, which boosted sugar production as well as the cocoa industry. The discovery of oil on Trinidad in 1910 added another important export. Independence was attained in 1962. The country is one of the most prosperous in the Caribbean thanks largely to petroleum and natural gas production and processing. Tourism, mostly in Tobago, is targeted for expansion and is growing. The government is coping with a rise in violent crime.

Economical characteristics

 * Currency: Trinidad and Tobago dollar (ISO code: TTD)
 * Central bank discount rate: 10.75% (31 December 2008)
 * Commercial banks lending rate: 12.44% (31 December 2008)
 * Stock of money (M1): $3.047 billion (31 December 2008)
 * Quasi money (with M1 makes M2): $6.795 billion (31 December 2008)

Notable events:

 * Banking crisis: 1982-1993

Links

 * Trinidad and Tobago on Wikipedia
 * Central bank of Trinidad and Tobago
 * and Tobago Studies from the Library of Congress (1986-1998)