Tag Archive for 'Central Bank'

‘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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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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A Stunningly Bad Appointment

By Dr. Selwyn R. Cudjoe
July 17, 2015

Dr. Selwyn R. CudjoeOn July 16th the Express reported that Mr. Jwala Rambarran, governor of the Central Bank, appointed Dr. Sandra Sookram to be a deputy governor. It was a stunningly bad decision; a continuation of the demonstrated incompetence Mr. Rambarran has shown since he became the governor in 2012. Such an appointment represents Mr. Rambarran’s continuing practice of sidelining strong competent people and elevating weak and incompetent acquaintances from which he can expect no challenges.
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When Race Trumps Reason

By Dr. Selwyn R. Cudjoe
July 18, 2012

Dr. Selwyn R. CudjoeYou work at an institution for ten years; you begin to like that institution. You grow to admire the intellectual caliber of the men and women who work there and you embalm those precious memories. Ultimately, you reverence that institution as a place where standards matter and excellence is the order of the day. You read Terrence Farrell’s Central Banking in a Developing Economy: A Study of Trinidad and Tobago, 1964 to 1989, you appreciate the origin of central banking in the nation, pre and post-independence. You realize the stature of the men who served this nation as governors (sadly there are no women) and you feel a sense of pride in your nation’s achievement. You realize that no matter what its limitations are, it tries to reward excellence signaling to the nation’s young men and women that achievement matters.
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Fear for our future

By Raffique Shah
January 07, 2012

Raffique ShahWITHIN recent times, I’ve had an uneasy feeling that this country is drifting around aimlessly. I sense that in the economic turbulence that has gripped much of the world, we have let go of the rudder of the ship of state, and cast our fate to the wind and the rough seas without even trying to steer a course to safety.
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A Presidential Challenge

By Dr. Selwyn R. Cudjoe
December 01, 2010

Dr. Selwyn R. CudjoeWhat does the president of a country do when he is asked to break the law? He responds firmly and comes down on the side of the law knowing that political leaders are always more concerned about gaining partisan advantage than respecting the laws they were elected to uphold. The Cabinet of Trinidad and Tobago has sent a letter to the President of the Republic demanding that he revokes the appointments of the non-executive directors of the Central Bank before their respective terms expire.
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