For­mer fi­nance min­is­ter Lar­ry Howai is the new Cen­tral Bank Gov­er­nor, and one of his first tasks is to ad­dress the for­eign ex­change woes this coun­try has been ex­pe­ri­enc­ing.

Yes­ter­day af­ter­noon, Howai walked out of the Min­istry of Fi­nance build­ing on In­de­pen­dence Square, Port-of-Spain, with his in­stru­ments of ap­point­ment as the new gov­er­nor.

In a state­ment last evening, Fi­nance Min­is­ter Dav­en­dranath Tan­coo con­firmed the ap­point­ment of for­mer gov­er­nor Dr Alvin Hi­laire was re­voked with im­me­di­ate ef­fect on Tues­day.