THE Prime Minister says he is eagerly awaiting the outcome of an independent investigation into a $2.6 billion revenue understatement in the 2023 public financial accounts by a team appointed by the Cabinet.

Dr Rowley also expressed surprise and disappointment that this matter has been converted into an unnecessary bacchanal in the public domain.

He made these comments during a news conference at the VIP lounge of the Piarco International Airport on May 19.

Rowley returned home from visits to Ghana and India last week.

Finance Minister Colm Imbert acted as prime minister during Rowley's absence.

Rowley told the media that he was briefed by Imbert about government matters during that time.

"I am quite surprised at this development and very disappointed that it would have happened. There is an investigation taking place. I like everybody else would want to see what the investigation says because this is not the kind of thing that I anticipated."

He said, "I was first informed there was a problem. I think it was in early March."

Reminding the media that he has been a parliamentarian since 1991, Rowley said, "I am very familiar with auditor general reports coming to the Parliament. I have been in Parliament for decades."

He added this is not a matter which turns the country upside down.

"On this occasion, something happened which...I'm still quite stressed about it because as prime minister of the country, I don't take very lightly, a public official, especially one involved in audit, telling me and the rest of the world that the minister of finance has been engaging in backdating the books. That's a very serious allegation and it has far reaching consequences."

This claim was made in pre-action protocol letters sent by Freedom Law Chambers, the legal representative of Auditor General Jaiwantie Ramdass, to Imbert.

This claim has been rejected in correspondence from law firm MG Daly & Partners, who are representing Imbert, to Freedom Law Chambers.

Rowley recalled an instance some years ago where the Energy Ministry had an error with respect to reporting data on natural gas production.

"When the rating agencies came to look at us to be able to rate the country, it was serious consequences for its financial situation. That error was picked up by the minister of finance and the minister of finance drew it to the minister of energy and it was rectified."

Rowley said, "The ratings agencies knowing of this, that there was an error that was corrected, took the position well the fact that you had to correct something means that there might be something here that I should be concerned about and this could result in you being downgraded."

He added, "That was just a number from the ministry of energy. So you could imagine when the Auditor General is saying to the world that the minister of finance has backdated the finances and all kinds of interpretations are being put on that alleged action."

Reiterating his first knew about this issue in March, Rowley said, "This came to a head in a publi