Monthly Archive for December, 2015

‘do so ent like so’

By Raffique Shah
December 29, 2015

Raffique ShahI 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.
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Why Jwala had to go

By Anthony Wilson
December 26, 2015 – guardian.co.tt

Jwala RambarranAt 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.
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The Pathology of the Firing of Jwala

By Stephen Kangal
December 25, 2015

Stephen KangalThe 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.
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Govt axes Rambarran

By Renuka Singh
December 24, 2015 – guardian.co.tt

Jwala RambarranCentral 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.
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Whey the money really gone

By Raffique Shah
December 14, 2015

Raffique ShahCentral 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.
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Debt — legacy to our grands

By Ian Lambie
December 16, 2015 – newsday.co.tt

DebtWE SHOULD all be ashamed, whether we be parliamentarian or proletariat who elected them to Parliament and permitted them to do their own thing for five years, that our legacy to our grandchildren and to our great-grandchildren will be: debt.

Since 2009 and up to 2015, our country has been spending more than it earned by approving deficit Budgets, with one exception — in 2010.
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Injustice to a soldier

By Raffique Shah
December 14, 2015

Raffique ShahLast Wednesday, amidst much ceremony but little pomp, Major-General Kenrick Maharaj took his last parade as Chief of Defence Staff (CDS) and proceeded into retirement, one month short of his 56th birthday.

Brigadier Rodney Smart was named as the new CDS.
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Ecology of Central Bank’s Governor Disclosures

By Stephen Kangal
December 12, 2015
Updated: December 13, 2015

Stephen KangalThe 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.
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$630,000 ‘wetting’ for Ian Alleyne

By Jada Loutoo
December 12, 2015 – newsday.co.tt

IT’S NOT alleged…it’s a fact.

Ian Alleyne, host of the Crime Watch showIan Alleyne, host of the Crime Watch show which airs on CNC 3, has been ordered to pay $630,000 in damages to local contractor Junior Sammy and his son Shaun as well as the company Junior Sammy Contractors Ltd for defamation. The award was granted yesterday by High Court Master Marissa Robertson after her assessment of the damages to be awarded to the Sammys.

Alleyne has also been ordered to pay costs which are to be assessed.
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Recession was predictable

By Raffique Shah
December 07, 2015

Raffique ShahThis 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.
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