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In T&T’s ongoing debate over foreign exchange access, two competing frameworks have emerged: Finance Minister Davendranath Tancoo’s five-point plan, aimed at reforming and streamlining forex distribution, and the Central Bank’s decades-old honour system, which relies on commercial banks to allocate foreign currency with fairness and discretion.
While the honour system has historically depended on trust and informal prioritisation—favouring trade, medical expenses and tuition—the five-point plan signals a shift toward structured accountability, proposing targeted interventions that include education, healthcare and small business support.
Tancoo’s proposals were received with measured optimism.
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