Imbert: Kamla’s expose a dud, TT banks sound

FINANCE Minister Colm Imbert flatly denied claims of problems existing with local banks, as alleged at a UNC virtual Monday night meeting by Opposition Leader Kamla Persad-Bissessar.

At a briefing on Wednesday at the Diplomatic Centre, St Ann’s, he described the allegations as "nonsense."

Imbert said since 2017 an IMF team has regularly visited TT to do a financial stability report. After three IMF missions to TT, their findings were sent to him and he approved them for publication.

Denying any idea of a bombshell from the Opposition, Imbert said the findings were posted as a report online on the websites of both the IMF and Central Bank.

“That is the ‘secret report’ the Leader of the Opposition said she would release,” he scoffed.

Imbert said the report was also highlighted at a public webinar on October 1, having also previously been examined by technocrats of his ministry and the Central Bank.

The IMF has said TT’s financial system is sound, he said, but had identified some vulnerabilities, mainly due to the covid19 pandemic.

He said it was reckless for Persad-Bissessar to allege problems with TT’s banks and described it as part of a campaign of destabilisation.