THE EDITOR: Due to recent global developments it is possible that TT would not escape a serious devaluation. The writing is on the wall. This may occur sooner than later and we must be prepared to brace ourselves for the worst.
For decades we relaxed ourselves into a state of complacency believing that gas and oil were sufficient to maintain the economy till the end of time. Successive governments have failed the call for diversification, particularly in relation to the agricultural sector. Talk continues to be cheap with very little or, in most instances, no action.
Our leaders have erred by their lack of testicular fortitude to find effective ways of developing both human and physical resources. The business sector has not been adequately stimulated with incentives and concessions. Yet there are businessmen who are patiently awaiting a bright and promising light at the end of the tunnel.
Our country needs to prioritise in order to put a stop to reckless and wanton spending. Significantly, the turning around of the economy needs to be placed on the front burner for surely the rainy days are ahead.
The introduction of a few recycling plants may prove economically rewarding. Also, there can be the revival of industries such as rice, sugar, cocoa and coffee.
The Government must not hesitate in creating a meaningful action plan that would heat up the economy and prevent devaluation from knocking on the door.
Failure to revive the economy may result in further job losses, homelessness, increased lawlessness and the loud cries of citizens on the streets all over the country.