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Wednesday 22 January 2020
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Farmers: New $100 bill will cause pressure

Rice farming in Orange Grove, Tacarigua.
Rice farming in Orange Grove, Tacarigua.

PRESIDENT of the Trinidad Unified Farmers Association Shiraz Khan said the introduction of the new polymer $100 note for the Christmas season will put livestock farmers and the country under pressure.

"It is a busy time. Everybody fighting to make a dollar."

He was speaking to Newsday in a phone interview on Monday on the announcement by Central Bank governor Dr Alvin Hilaire that December 30 will be the last day the old $100 bill will be accepted as legal tender.

Khan explained during the Christmas season farmers, especially livestock farmers, try to do business and make last-minute sales.

"People will come Christmas morning, New Year’s morning for little duck and fowl. Things already tight and farmers looking to scrape up sales."

He questioned whether farmers could go to banksoutside the regular hours, or will be "fighting with one another for a $100 in the bank."

He said people can spend three to four hours in the bank for legitimate business and this would be exacerbated by having to line up for the new $100 note.

“What do we do know? How do we deal with these problems we having with the bank?”

Khan said currently things were very hard in terms of sales and customers were waiting to get money later in the month to buy things for their families.

"Do we (farmers) tell people we not collecting old dollars, but only new dollars?"

He said the introduction of the new note was not well thought out, and claimed Government implemented it because of losses during last week Monday's local government election.

"It is a vindictive move."

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