Finance Minister Colm Imbert is adamant that the Government will not be floating the Trinidad and Tobago Dollar.
His statement, which came via his X page, was in response to a Guardian Media article today, in which the International Monetary Fund (IMF) is quoted as saying that T&T’s foreign exchange restrictions are not consistent with the Fund’s Articles of Agreement.
The Washington DC-based lender of last resort is seeking to persuade this country to end the restrictions. The comment from the IMF, which was exclusive to Guardian Media, follows a period of heightened concern about foreign exchange supply constraints in T&T.
However, the Finance Minister put out a tweet this morning in response.
“We are not in an IMF programme. We will not be floating the dollar at this time because we know how this will adversely affect the vulnerable and cause massive inflation. We have said this for the last 10 years,” he said.
Last week, Imbert said he will be meeting with stakeholders to discuss a new system to determine how forex can be distributed by commercial banks.