01772cas a2200241 a 4500 AALejournalIMF016909 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475523041 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Western Hemisphere Dept. Trinidad and Tobago : Selected Issues. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (18 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper reviews the historical background of fuel subsidies in Trinidad and Tobago, discusses their fiscal impact and the inflationary impact of subsidy reform, summarizes the regressive distribution of subsidy benefits, focuses on the negative externalities caused by fuel subsidies and the environmental and traffic benefits of phasing them out, and discusses key factors contributing to successful reforms. Fuel subsidies in Trinidad and Tobago, established in 1974, increased dramatically owing to rising global crude oil price in the past few years and led to a growing debate on the costs and benefits of subsidy reform. Fuel subsidies have significantly contributed to the country's procyclical fiscal stance. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2016/205 Full text available on IMF http://elibrary.imf.org/view/journals/002/2016/205/002.2016.issue-205-en.xml IMF e-Library