Former Central Bank governor: Judge's ruling a victory for truth

Former Central Bank Governor Jwala Rambarran. FILE PHOTO
Former Central Bank Governor Jwala Rambarran. FILE PHOTO

“A victory for justice and truth.”

This is how economist Jwala Rambarran described a judge's ruling in his favour that he was unfairly dismissed as Central Bank governor by the Government in 2015.

Justice Devindra Rampersad on Wednesday ruled Rambarran’s termination as governor was in breach of the Constitution and ordered that he be paid his salary from the date of his dismissal in December 23, 2015 to July 16, 2017, when his tenure would have come to an end if he had not been fired. He also ordered vindicatory damages in the sum of $175,000.

“When a government is willing to trample on the Constitution to remove a high office holder, what would it do to the man on the street?”

He also said it had been a long and difficult journey in search of justice.

“Finally, justice has been served. I am thankful to God,” he said in a phone interview.

While thanking his legal team, led by Anand Ramlogan, SC, Rambarran referred to December 2015 when he named the biggest users of foreign exchange, saying, “At the time there was a foreign-exchange problem. Now, we are in a foreign-exchange crisis.”

He said not only had the situation “worsened dramatically,” but the Government and Central Bank have “done absolutely nothing to resolve the issue.”

“Do we have the confidence in the Government to navigate us against the current food and fuel crisis? This was in the making and they have done absolutely nothing since then.”

Rambarran admitted he has not been able to secure employment since the 2015 debacle. And of the lost opportunity to sit on the G-24 secretariat as an adviser, he said, "We, the country, lost an opportunity to have our own national there to help advocate for small-island economies with the International Monetary Fund and the World Bank.

“Forget me as a person. We lost out as a country.”


"Former Central Bank governor: Judge’s ruling a victory for truth"

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