Central Bank Governor- Hard Times Ahead!

[streetbeastINC.]

Have you ever given thought to the theory, that the present govt does nottt want to become the next govt, subtle tactics to lose popularity without being noticeable

[RASC]

Have you ever given thought to the theory, that the present govt does nottt want to become the next govt, subtle tactics to lose popularity without being noticeable

I've heard this theory being bounced around a year back. That secretly they do not wish to be re-elected. And even if Kamala were to win she would resign and allow another within the ranks to take the lead.

[src1983]

Hard times will always come.

It came in the 80s and look we're still here. Theres no need for all the doom and gloom.

What is needed is someone willing to make the hard calls that NO one wants to make.

The only people will be hurt by a falling economy is people living above their means.

[pete]

Where is the NAR who got us through those hard years?

[src1983]

Where is the NAR who got us through those hard years?

Wasn't just the NAR, people worked and worked hard. No matter who in power, its hard work.

Its sad to see manufactures don't get enough. Exports should get more tax breaks and benefits.

[antlind]

Where is the NAR who got us through those hard years?

Sad thing is that NAR only lasted one term.

[bluefete]

Removing the fuel subsidy is bandaid move

What's needed is a revamp of customs and inland revenue. I don't know how these guys don't see it.

Also a cut in social welfare. Middle class should not be maintaining the poor

Business people say remove the subsidy BUT not on trade vehicles. So the business people could get a continued break by continuing to enjoy the subsidy but then jack up prices on the population so that they could make more profits!

Either way, the ordinary people will be screwed.

Subsidy removal should be conditional on an effective and efficient mass transportation system.

Revamp of customs and inland revenue depends on how willing an administration is to fire the head of customs and fight corruption. Real money is lost daily in customs.

Inland revenue is another lost cause. Imagine the Government auditor could not get access to inland revenue files because IR said they were confidential.

How much did Jack Warner pay in taxes on all the money he brought into the country?

[src1983]

But in all seriousness forgetting the politics , would a subject like decriminalizing and taxation on marijuana help our country's money?

I dunno eh i jus asking, cuz it seems there was a considerable growth income-wise in other countries

Unless its exported, where as it would provide jobs (farming, sales etc) it must be able to bring in Foreign exchange.

TT imports most stuff, and most house holds buy foreign foods. The Central bank needs to keep USD coming in to pay for these goods. If it runs out we can't get stuff whether it be iPhones or Food.

This is why government should forget the subsidy and start looking at what could bring the foreign exchange beside oil and gas.

Back in my finance days I heard they wanted to start downstream operations in Point Lisas, but I don't know if that ever came in to fruition

[zoom rader]

Here Mr. Blabbermouth!

This more like curry source with no source

Fuel subsidy priority for new govt

By VERNE BURNETT Tuesday, June 2 2015

CENTRAL Bank Governor Jwala Rambarran, said yesterday that reduction of the fuel subsidies will be one of the priorities which must be tackled by the new government which takes power in Trinidad and Tobago following the next general election.

Delivering the bank’s Monetary Policy Report at the Conference Facility at the head office of Angostura Limited in Laventille, Rambarran said that with a General Election due within the next few months the country must ensure that “the new mediocre doesn’t become the new reality for TT.”

He said whichever party takes power after the this year’s general election will face many competing economic priorities. Saying that he was giving advice as the government’s economic adviser, Rambarran said the next administration will have to take politically unattractive but durable fiscal reform measures within its first two years in office if it is to achieve durable fiscal reform.

He said among these difficult reforms it must address a reduction in the fuel subsidy; deal with the duplication and poor targeting of the social programmes operated by the government; plug the leakages in the Value Added Tax (VAT) system which he said was caused by extensive exemptions and zero rating and broaden the non-energy sector. He said the aim of these reforms must be to arrest and reverse the recurring deficits and put the country’s fiscal accounts on a more sound footing.

He said the first thing he would advise the next administration to do would be to transform the Central Statistical Office (CSO). According to Rambarran, “without timely and reliable data government cannot make well-formed economic decisions and therefore cannot make sound economic policy.” He said over the past year the Central Bank had been helping the CSO to improve the quality, timeliness and production of vital economic statistics in national accounts, trade and the labour market.” He said good progress had been made by the team and the Central Bank will continue to support the CSO for the next two years.

He said there was also need for a new fiscal oil and gas regime because over the last few years, TT had been struggling to maintain its oil and gas production. He said amendments to the fiscal oil and gas regime has contributed to an enhancement in the oil and gas exploration programme. However, he said the country must ensure that its oil and gas regime remains internationally competitive in order to attract investment.

He ended by stressing that the Central Bank is an independent institution entrusted with the sacred responsibility of maintaining TT’s development and growth. He said the bank takes its responsibility seriously, adding that its horizon extends beyond the next political parliamentary cycle.

In response to a question, he said it was always necessary to stress the bank’s independence because some people feel the Central Bank is a part of the political directorate. Saying this is not the case, Rambarran indicated he was the ninth Governor of the Central Bank and he was selected in exactly the same way as his predecesors.


http://www.newsday.co.tt/business/0,212088.html

Since when Newsday is a credible source? That's a PNM newspaper

[Sanctifier]

God i hate saying it, but he is a PNM

Nope... True, True "PP."

So you saying despite his movements in the momentum leading to his big wuk, the man is a sleeper?

Winston Dookeran is his uncle-in-law.

Where is the NAR who got us through those hard years?

You're in luck Pete. Carson Charles had an ad in the papers last week, saying that he wanted to contest all 41 seats.

[eliteauto]

Sanctifier can you say why he changed his name?

[Rory Phoulorie]

Where is the NAR who got us through those hard years?

Ask Gene Miles.

[Sanctifier]

^ ^ ^ ... I think she was about 30 years before the NAR's time, Rory. (early 1960's?)

Sanctifier can you say why he changed his name?

Not too sure who you mean.

If it's the Central Bank Gv'nor, I haven't a clue if his name was changed...
but seriously, Winston Dookeran (ex-Min. of Finance!) really is his uncle-in-law.

Passing strange that he got the position, don't you think?
... especially when TWO other better educated and more respected economists
(who also happened to be his immediate superiors... with DECADES more experience) were overlooked?
Shades of "Rishmi Ramnarine"

My

[zoom rader]

Where is the NAR who got us through those hard years?

Ask Gene Miles.

Hoss tuner full ah young clowns dem ent know about Gene Miles.