Finance Minister Colm Imbert Wednesday acknowledged that the choice by the Financial institution of Jamaica (BOJ) to non permanent droop the trade of Trinidad and Tobago {dollars} at its banking counter was “to overview its preparations” with the Central financial institution of Trinidad and Tobago (CBTT).
Imbert in a press release posted on X, previously Twitter, stated that the quantity traded in Trinidad and Tobago {dollars} in Jamaica “equals solely US$4,000 per 30 days”.
In his assertion, Imbert took difficulty with a neighborhood newspaper, that he stated revealed an article Wednesday “describing that small sum as proof of a forex disaster”.
“How irresponsible,” the Finance Minister stated, including in a letter X message “all this drama over such a small quantity of foreign exchange (overseas trade), making a mountain out of a molehill, creating anxiousness for no cause”.
The BOJ had stated that as of November 6, the trade of Trinidad and Tobago {dollars} at its banking counter is suspended till additional suggested. The BOJ, which can be the nation’s central financial institution, gave no particular cause for the overview and that this non permanent suspension will stay in impact till additional discover.
Nevertheless it stated that the suspension “is because of the truth that the Central Financial institution of Trinidad and Tobago, to which this forex is repatriated, has suspended the preparations for the repatriation of T&T {dollars} till additional suggested.
“Financial institution of Jamaica will advise of any additional developments,” the assertion added.
The Central Financial institution of Trinidad and Tobago has to this point given no causes as to why it suspended the preparations.
Donate At Caribbean Information Service, we don’t cost for our content material and we need to maintain it that manner. We’re searching for assist from people and organisations so we are able to
proceed our work & develop CNS additional.
