Trinidad’s Finance Minister, Colm Imbert on Wednesday responded to the choice made by the Bank of Jamaica (BOJ) to temporarily halt the exchange of Trinidad and Tobago dollars at its banking counter.
This suspension, in accordance with Imbert, is primarily pushed by the necessity to reevaluate the prevailing preparations between the BOJ and the Central Financial institution of Trinidad & Tobago.
Exploring the trade
Imbert make clear the size of Trinidad & Tobago greenback transactions inside Jamaica, revealing that it quantities to a modest sum of solely US$4,000 on a month-to-month foundation.
Dispelling foreign money disaster speculations
Responding to considerations circulating within the wake of the BOJ’s resolution, Imbert, in an announcement, dismissed claims that the small sum is proof of a foreign money disaster.
BOJ’s announcement
The BOJ, in its announcement, supplied no specific causes for its resolution to droop the trade of Trinidad and Tobago {dollars}, efficient November 6. The dearth of a selected rationale leaves room for hypothesis and requires a more in-depth examination of the state of affairs.