By Raffique Shah
March 04, 2016
I don’t know if we should be more afraid of banks and bankers or bandits and murderers.
Seriously.
Both strike when we are most vulnerable. They relieve us of our life’s savings, of what we have worked tirelessly to provide for our families, with a callousness that is chilling.
Continue reading Bankers and Bandits
By Raffique Shah
January 27, 2016
As a nation, we can do nothing about the plunging price of oil except watch with alarm as crude slides below US $30 a barrel.
Even if we ramp up production, which has fallen by approximately 50 per cent over the past decade, it will make little sense. At this point, it might be better to leave the oil in the wells rather than sell it for peanuts.
Continue reading Destiny in our hands
No more VAT for 1,300 businesses
By Richard Lord
January 11, 2016 – guardian.co.tt
Finance Minister Colm Imbert reads the price of oil from his cellphone while Prime Minister Dr Keith Rowley looks on attentively during the sitting of Parliament yesterday. PHOTO: MARCUS GONZALES
While an estimated 1,300 businesses will no longer have to pay Value Added Tax (VAT) from next month, thousands of citizens will have to dig deeper in their pockets to buy several items, such as rice (except parboiled and boiled), flour (except all purpose and wheat), coffee, orange and grapefruit juices, mauby, tea and tomato ketchup.
Continue reading Citizens to pay more for food
By Raffique Shah
December 29, 2015
I am surprised that so many people are surprised by the termination of services-firing, suspension, the euphemistically-couched “sent on administrative leave”-of several senior government officials, the most prominent being Governor of the Central Bank, Jwala Rambarran.
Clearing the politically-constructed State-stables of partisan appointees is a ritual that occurs every time a government changes.
Continue reading ‘do so ent like so’
By Anthony Wilson
December 26, 2015 – guardian.co.tt
At its weekly meeting on Wednesday, Cabinet took a decision to request the President to terminate the appointment of former Central Bank Governor, Jwala Rambarran, in accordance with sections 12(e) and 12(g) of the Central Bank Act, Finance Minister Colm Imbert said in a statement on Thursday.
Continue reading Why Jwala had to go
By Stephen Kangal
December 25, 2015
The pathological obsession of the PNM with pre-maturely removing Jwala as Governor of the CBTT has caused them to act in a most irresponsible, reckless, arbitrary and vulgar manner at this the season of goodwill and peace on the earth of Trinbago. T&T is plunged into an air of sadness and deep cataclysmic foreboding. A lamb has been led into the slaughter again even when birth is being celebrated universally.
Continue reading The Pathology of the Firing of Jwala
By Renuka Singh
December 24, 2015 – guardian.co.tt
Central Bank Governor Jwala Rambarran has been fired. The T&T Guardian confirmed that Rambarran was dismissed by the Minister of Finance, Colm Imbert yesterday.
Word of this unprecedented dismissal came late last night, but only one day after Prime Minister Dr Keith Rowley said that a Government “ought to have confidence” in any Central Bank Governor. That comment and his refusal to give any ground to Rambarran made clear that he did not have any confidence in the Governor.
Continue reading Govt axes Rambarran
By Raffique Shah
December 14, 2015
Central Bank governor Jwala Rambarran was the unlikeliest man to kick the hornets’ nest, but that he did when he named the firms that used the most foreign exchange (forex) over the past three years.
Amidst a cacophony of complaints from businesses and individuals about being denied adequate sums of forex for legitimate uses, Rambarran went on the offensive by identifying the 18 biggest users.
Continue reading Whey the money really gone
By Stephen Kangal
December 12, 2015
Updated: December 13, 2015
The ratio dicendi identified by Governor Jwala Rambaran for the historic and unprecedented disclosures of the highest users of the scarce, rapidly dwindling and vital stock of FOREX over the past three years may be summarized as high and compelling public interest, potential threat to the integrity of the sensitive and fragile current financial system and the CBTT’s own core remit as clearly set out in statutes and objects.
Continue reading Ecology of Central Bank’s Governor Disclosures
By Raffique Shah
December 07, 2015
This recession did not creep up on us like the proverbial thief in the night.
It was long in the making. In fact, from as far back as the global financial crisis of 2008-2009, when Clico collapsed and the price of oil plunged from a brief high of US $140 a barrel to $30, informed, patriotic citizens were warning governments to go easy on the wild spending, to set aside more savings in the Heritage and Stabilisation Fund, to wean the population off dependency on subsidies, and most of all to diversify the economy from its over-reliance on oil, gas and petrochemicals.
Continue reading Recession was predictable