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Caribbean & Central America - February 2009 (ISSN 1741-4458)

TRINIDAD & TOBAGO: Government bails out CL Financial

On 30 January Trinidad & Tobago's central bank assumed control of a number of cash-strapped subsidiaries of one of the region's largest conglomerates, CL Financial Ltd, including the substantial Clico Investment Bank (CIB) and Trinidad and Tobago's largest insurance company, Clico. The government had little choice but to bail out the Port of Spain-based group, whose collapse would have battered both the economy of Trinidad and Tobago and the region as a whole.    

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