PORT OF SPAIN, Trinidad, Oct 29, CMC – The Trinidad and Tobago government Tuesday said that the public should not be held to “ransom” with a threat of increased prices for the restructuring and rationalisation of a foreign exchange service that was introduced as a “temporary measure” during the coronavirus (COVID-19) emergency.
Finance Minister Colm Imbert said it was well known that in 2020, as a result of the looming trade crisis brought on by the pandemic, the government took the decision to temporarily allow wholesale importers of essential goods access to EXIMBANK services.
He said that the entire initiative was again outlined in the 2025 national budget and that it was well known that the initiative was “always subject to periodic review”.
Over the last weekend, Imbert announced that during COVID, the government created a special window at the EXIMBANK to provide United States dollars for essential imports, such as food and medicine.
(Details in Business section)
CMC/2024