PORT OF SPAIN, Trinidad, CMC – Finance Minister Colm Imbert Wednesday acknowledged that the choice by the Financial institution of Jamaica (BOJ) to quickly droop the trade of Trinidad and Tobago {dollars} at its banking counter was “to evaluate its preparations” with the Central financial institution of Trinidad and Tobago (CBTT).
In an announcement on X, previously Twitter, Imbert mentioned that the quantity traded in Trinidad and Tobago {dollars} in Jamaica “equals solely US$4,000 monthly”.
In his assertion, Imbert took situation with a neighborhood newspaper, which he mentioned revealed an article Wednesday “describing that small sum as proof of a foreign money disaster.”
“How irresponsible,” the Finance Minister mentioned, including in a later X message, “all this drama over such a small quantity of foreign exchange (international trade), making a mountain out of a molehill, creating anxiousness for no purpose.”
The BOJ had mentioned that as of November 6, the trade of Trinidad and Tobago {dollars} at its banking counter is suspended till additional suggested. The BOJ, additionally the nation’s central financial institution, gave no particular purpose for the evaluate and that this non permanent suspension will stay in impact till additional discover.
However it mentioned that the suspension “is as a result of the Central Financial institution of Trinidad and Tobago, to which this foreign money is repatriated, has suspended the preparations for the repatriation of T&T {dollars} till additional suggested.
“Financial institution of Jamaica will advise of additional developments,” the assertion added. The Central Financial institution of Trinidad and Tobago has given no causes for suspending the preparations.
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