Finance ministry says no devaluation of TT dollar

The Ministry of Finance has reaffirmed its commitment to maintaining a “managed foreign exchange policy” despite the IMF’s suggestion that government adjust the exchange rate or make foreign exchange freely available by injecting more reserves into the commercial banking sector.

In a statement yesterday, the Ministry noted that its policy of not engaging in any drastic devaluation of the TT dollar is one that will “protect the citizens of Trinidad and Tobago by keeping prices in check and maintaining the country’s rate of inflation at low levels.”

“While the Government notes the IMF’s view, it also is conscious of its responsibility to the economic well-being of each and every citizen of the country.”