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Governor never used the ‘R’ word
Wednesday, June 20 2012
THE EDITOR: On May 23, 2012, the Central Bank of Trinidad and Tobago (CBTT) held a media conference at its conference facilities to release its Monetary Policy Report for 2012. While I was not physically present for the conference, I viewed the proceedings via the live stream provided by the CBTT. This is certainly an excellent initiative of the CBTT and they must commended for this.
However, I was somewhat dismayed by the reporting coming out of the proceedings. The Governor of the Central Bank, Mr Ewart Williams, was baited in the question and answer session following the presentation to confirm whether the economy was in fact in the recession. He did his utmost best to avoid using that word, even going so far to refer to it as the dreaded “R” word. He did, however, confirm the economy is in a slump and has been so for the last three years. His comments raise a number of concerns, most specifically:
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