Finance, General T&T, Media, PNM, Politics

Govt axes Rambarran

35 Comments

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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Finance, General T&T, PNM, Politics, Recession

Whey the money really gone

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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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General T&T, Parliament, PNM, Politics, Recession, UNC

Debt — legacy to our grands

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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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Finance, General T&T

Ecology of Central Bank’s Governor Disclosures

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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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Court, Crime in T&T, General T&T, Media

$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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Finance, General T&T, Oil and Gas, People's Partnership, PNM, Politics, Recession

Recession was predictable

124 Comments

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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Finance, General T&T, Media, Parliament, People's Partnership, PNM, Politics, UNC

Imbert: PP raided NGC of $14b cash

48 Comments

…Used Green and Unemployment Funds as collateral

By Richard Lord
December 05, 2015 – guardian.co.tt

Colm ImbertFinance Minister Colm Imbert says the former PP government raided the National Gas Company (NGC) of almost $14 billion in cash. He made the claim while presenting three motions for debate in the House of Representatives yesterday.

The motions seek to increase the ceiling for government borrowing by $50 billion under the Development Loans Act, External Loans Act and the Guarantee of Loans (Companies) Act.
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Elections, General T&T, People's Partnership, PNM, Politics, UNC

Judges split on petitions appeal

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By Derek Achong
December 01, 2015 – guardian.co.tt

United National CongressThree of the country’s most senior judges have failed to come to an agreement over whether the United National Congress (UNC) has conclusive proof that its defeat in September’s general election was due to a one-hour extension in voting, in order to secure a re-election.

Delivering its judgment in the appeal brought by the Elections and Boundaries Commission (EBC) and the People’ National Movement (PNM) at the Hall of Justice, Port-of-Spain, yesterday, the appeal panel, led by Chief Justice Ivor Archie, was split two to one, as it ruled that the UNC had met the requirements required for preliminary approval of the petitions.
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Finance, General T&T, PNM, Politics

Sending the wrong signals

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By Raffique Shah
November 30, 2015

Raffique ShahIf “Santa Colm” assures the populace that their Christmas will be bright, not blue, then we have no reason to doubt the man.

After all, Acting Prime Minister Colm Imbert is the substantive Minister of Finance, in which capacity he has access to data and information pertaining to the state of the economy, especially Government’s revenues and expenditures, that you and I will not see.
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