The announcement by Central Bank Governor Jwala Ramarran that the country is in recession and the effects will be felt next year (An Olympic Year) has not surprised the Trinidad and Tobago Olympic Committee (TTOC ).

The TTOC had been paying close attention to the overal economic environment in Trinidad and Tobago and accordingly the Central Bank prouncement was expected at some point.

"We have been raising the issue with our membership in respect of the need to implement sport governance reform and a market oriented approach to the revenue generation their respective governing bodies and sport organisations."

The TTOC believes that sport organizations and governing bodies can weather the difficult period.

It will however require a realistic attitude and mindset.

Becoming more efficient with an emphasis on value for money.

Belt tightening after reviewing their budgets and strategic plans.

Both the Ministry of Sport and the Sport Company will be hard pressed to meet all that sporting bodies will be requesting.
Therefore National Governing Bodies and Sport Organisations must do all things possible and necessary to sort out their affairs to operate efficiently and effectively and meet their obligations.

The TTOC is however confident that sport and sport organizations are resilient and will overcome whatever attendant problems and challenges that will arise from the Central Bank Governor's declaration of austere economic circumstances.

No matter how difficult the adversity Sport organisations must not lose their sense of purpose and self worth.

"Be not afraid. Tough times don't last Tough people and organizations do. We all have to work and think harder to become more efficient, productive and innovative"

Sport organisations will have to adjust to the new economic realities. Adversity will bring out the best in us."