Central Bank Governor- Hard Times Ahead!

[bluefete]

So Jwala Rambaran decided to find his voice today when he said that the INCOMING government will have to make some very difficult decisions with respect to the TT economy.

I wonder why he did not refer to the CURRENT government having to make those decisions?

He also said that the current government LIED (my words) when they said that they were reducing expenditures in light of low oil prices. Government expenditure has actually increased and the gov't has just asked for an additional $1.5 billion to meet recurrent expenditure.

[bluefete]

By the way, I wonder if the Governor of the Central Bank could tell us about the senior bank official who has commandeered an entire floor in the twin towers for his/her private offices.

It is alleged that this entire floor is off-limits to ALL staff.

It is alleged that the no entry ban is so that certain activities on behalf of the government can be done away from 'macocious' eyes!

[mark2.0]

Pressure for Trinidad after this present administration...

[Daran]

God i hate saying it, but he is a PNM

[bluefete]

God i hate saying it, but he is a PNM

Issa good thing he was put there by a PP gov't!

[Les Bain]

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

[bluefete]

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

He was put there to facilitate certain transaction and activities by this gov't.

How come we really started having $US problems when he 'tinkered' with the system that was in place?

ANSA McAl Merchant Bank was one of the beneficiaries. Does ANSA MB sell $US to the general public?

[pugboy]

x2

God i hate saying it, but he is a PNM

[antlind]

A few of my buddies were talking about the upcoming elections and we all agreed that this election is not one that anybody would want to win because of the tight (and unpopular) fiscal decisions that will have to be made in 2016. If you have plenty money start converting it to a foreign currency because a devaluation of the TT dollar is not that far fetched.

[pugboy]

not really, we have plenty money in h&s to start spending, lol

[zoom rader]

This more like curry source with no source

[RASC]

Kamala say everything good...so everything good!
Box drain for you, you and you!

[zoom rader]

Kamala say everything good...so everything good!
Box drain for you, you and you!

And you believe everything PNM reporters and media writes when twisting the truth to suit their slaves.

[RASC]

So everything good or not good?

[BRZ]

we all KNOW that 4 years ago when the Peenem LOST the elections that the new government had to clean up all the mess, including the huge DEBTS and financial disaster that the then thieving gobbment had this country in, so why do you all seem all surprised?

[Habit7]

we all KNOW that 4 years ago when the Peenem LOST the elections that the new government had to clean up all the mess, including the huge DEBTS and financial disaster that the then thieving gobbment had this country in, so why do you all seem all surprised?

What mess? What huge debts? Allyuh listening to too much Kamla.

Moody’s praises Govt over economy

By SEAN DOUGLAS Wednesday, January 7 2009

US-based credit rating agency, Moody’s, has praised the Government’s response to the global economic slowdown, but seemed to criticise the past handling of the economy, while also predicting some deterioration in line with low oil/natural gas prices.

Moody’s on Monday released its Annual Report on Trinidad and Tobago. 

Minister in the Ministry of Finance, Mariano Browne, and Energy Minister Conrad Enill both welcomed the report as a vindication of Government’s policy, and economist Jwala Rambarran said the findings were “fair and balanced”. 

The report gave the country a stable outlook and a healthy “Baa1” rating for the Government’s bonds, based on a “vibrant and well-diversified energy sector, a relatively low and declining public debt, and a strong macroeconomic policy consensus”. 

Report author, Alessandra Alecci, said: “Despite the difficult challenges presented by the current commodity shock, the economy seems far better prepared than in the past to prevent the recent energy boom from turning into a full-blown bust. “This is due to the country’s net creditor position, institutionalised savings from the oil windfall, and enhanced diversification within the energy sector.” 

Alecci, a Moody’s vice-president and senior analyst, praised the actions of the Government in reacting to the global downturn, plus the work of other political players. 

She said the Government’s commitment to spend less and avoid tapping into its stabilisation fund underscored Trinidad and Tobago’s longstanding tradition of prudent policy management.

http://newsday.co.tt/politics/0,92982.html

Kamla wish Jwala could say this now.

[Redman]

Interesting read

http://news.co.tt/public_html/article.p ... 5004345310

[Dizzy28]

we all KNOW that 4 years ago when the Peenem LOST the elections that the new government had to clean up all the mess, including the huge DEBTS and financial disaster that the then thieving gobbment had this country in, so why do you all seem all surprised?

This is the classic response that UNC sheep have when questioned on the current administration's financial management of the economy. Just as with most other issues of Governance that plagues this administration they somehow find a way to blame the PNM.

First saw this when the Allan Karim fellow blamed PNM for the Moody's downgrade.

[humbleservant]

UNC making people see illusions.

[src1983]

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

He was put there to facilitate certain transaction and activities by this gov't.

How come we really started having $US problems when he 'tinkered' with the system that was in place?

ANSA McAl Merchant Bank was one of the beneficiaries. Does ANSA MB sell $US to the general public?

No but they do handle, many transactions for the group, which aids in bringing US back into TT and that is the most important part.

As oil revenues drop manufacturers and Exports should get preference for USD as they contribute to the GDP.

[desifemlove]

OK, so UNC supposedly did lie about expenses..

so what? either she fires he, or she ent care and continue....

anyting more to be said?

[desifemlove]

Kamala say everything good...so everything good!
Box drain for you, you and you!

And you believe everything PNM reporters and media writes when twisting the truth to suit their slaves.

Come again?

[Advent]

we all KNOW that 4 years ago when the Peenem LOST the elections that the new government had to clean up all the mess, including the huge DEBTS and financial disaster that the then thieving gobbment had this country in, so why do you all seem all surprised?

BRZ just like the subaru variant......SLOW
I want to know what debts and disasters stueps

[goalpost]

So everything good or not good?

ZR waiting on his UNC masters to direct him before he can respond to you. He doesn't have a clue until they tell him.

[zoom rader]

So everything good or not good?

ZR waiting on his UNC masters to direct him before he can respond to you. He doesn't have a clue until they tell him.

Nothing was never good since 1956. Years of abuse from the PNM left us in this predicament. It's only with non PNM governments things got a lil better.

[bluefete]

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

[src1983]

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

[racedriverpro]

UNC making people see illusions.

U N C D illusions?

[ModMania]

Also privatization of the public sector will benefit our economy a lot...get rid of all dem union dem
Get rid of all those public servants collecting salaries for nothing

[racedriverpro]

Also privatization of the public sector will benefit our economy a lot...get rid of all dem union dem
Get rid of all those public servants collecting salaries for nothing

So how would the gobberment buy votes? U feel any of the political parties concerned abt t&t? Them only studying themselves. Fork all ah we!