THE EDITOR: I write to ask the Minister of Finance and the Governor of the Central Bank to bring back the old time days and bring back the old time ways.
The Central Bank received a large amount of foreign exchange from the IMF because of the covid19 vaccination cost, so the Heritage and Stabilisation Fund is overflowing with forex cash.
The main income earners of the country are oil and natural gas. The price of oil is US$71.45 for Brent crude and the Government’s budgeted price is US$45 per barrel. The price of natural gas is US$5.031 per million British thermal units and the Government’s budgeted price is US$3 per 1,000 cubic feet, as stated in Friday’s newspaper. This means that the foreign exchange to TT is improving.
TT banks are allowed to invest in other foreign banks using large amounts of US dollars.
Please allow more US dollars to be sold by local banks so their customers can pay their foreign bills on time, as was done in the past, because this is needed as the Christmas trade is approaching.
ANTHONY J ARRINDELL