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Trinidad Joins Global Energy Giants in Tapping Sovereign Fund

  • Caribbean natural gas producer buffeted by low energy prices
  • Finance minister says government withdrew $375 million

Trinidad & Tobago, the Caribbean’s largest oil and natural gas producer, joined Qatar, Russia and other energy-rich nations by tapping its sovereign wealth fund after low oil prices left the government with a budget shortfall, Finance Minister Colm Imbert said Friday.

The twin-island country, located off the coast of Venezuela, dipped into its $5.5 billion Heritage and Stabilization Fund for the first time since it was created in 2007, withdrawing $375 million.