
Click to view full size
Colm Imbert will be remembered as the worst minister of finance in the history of Trinidad and Tobago (T&T). But he did not act alone. For 10 years, every reckless decision he made with respect to our exchange rate was endorsed, defended and enabled by former Prime Minister Dr. Keith Rowley.
Rowley inexplicably kept him in the critical position of minister of finance office for almost 10 years, and allowed Imbert to preside over the most destructive decade of economic management this country has ever endured. This resulted in a wrecked economy, vanishing foreign reserves and a nation brought to its financial knees.
Imbert’s central blunder was abandoning the “managed float” system, administered by the Central Bank (CBTT) that had served this country very well. A managed float would have allowed the TT dollar to decline gradually, cushioning inflation, preserving our foreign exchange reserves, and sustaining our role as the financial powerhouse of the Caribbean.
The portable companion to gazettE. Get notifications, track read articles, and more. The latest news from Trinidad and Tobago, in one place.
Related stories
See articles related to "Colm Imbert and the forex disaster he created"