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At the post-Cabinet news conference on May 15, Prime Minister Kamla Persad-Bissessar announced that three of her ministers—Minister of Finance, Davendradath Tancoo, Minister of Planning, Economic Affairs and Development, Kennedy Swaratsingh and Minister of Trade, Investment, and Tourism, Satyakama “Kama” Maharaj—were mandated to produce a report on foreign exchange distribution and leakage over the past ten years.
The Prime Minister emphasised that she expected the report to focus on the formal distribution system of foreign exchange, but also on the “leakage” of foreign exchange from the formal distribution system, which she described as “a serious matter.”
She said one of the cries the current administration has heard is on the issue of foreign exchange availability. As a result, said Mrs Persad-Bissessar, the Government needs to know where the foreign exchange went, who received the foreign exchange, why they received it, the process used to determine who received foreign exchange, and how that foreign exchange was used or deployed.
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