Jwala must go: Fixin’ T&T rejects calls for private resolution with Central Bank governor

Civic watch group, Fixin’ T&T has reiterated its stance that Central Bank governor Jwala Rambarran must leave his post immediately and rejected any suggested that his impasse with Minister of Finance Colm Imbert could be resolved behind closed doors.

Fixin’ T&T insisted that Rambarran no longer has the confidence of the Government, business community, banking sector or public and further questioned the Central Bank governor on: his handling of foreign exchange, the leaking of information related to the Clico directors’ pay off, his recent trip to Peru with his communications manager Charlene Ramdhanie and the confidentiality of information received by banks.

The following is the full release by Fixin’ T&T:

FIXIN’ T&T notes the calls by some for the impasse between the Minister of Finance and the Central Bank Governor to be resolved behind closed doors. There are far too many public interests here for this to be dealt with privately.

We maintain that the only solution is the immediate removal of Mr Jwala Rambarran and reiterate our insistence that the Cabinet of Trinidad and Tobago take decisive action to effect same.

Banking is first and foremost about confidence and trust. The Central Bank is, after all is said and done, a bank; one that is effectively a department of the Government that is only quasi independent.

It is abundantly clear that Mr Rambarran enjoys neither the confidence nor trust of the Government, the business community, the banking sector and the public at large.  His position is therefore untenable and our Central Bank compromised; a situation that worsens each passing day.

We openly and publicly ask the Central Bank Governor to answer the following:

1. Did you at any time during your tenure directly or indirectly attempt to influence the direction of the distribution and allotments of foreign exchange?

2. Are you investigating how a Central Bank report on the Clico Directors’ payout sent to the DPP also found its way into the media?

3. Did you receive approval from the Government for your Communications Manager Charlene Ramdhanie to travel with you to Peru in October?

4. Is there a legal requirement for commercial banks to provide the specifics of foreign exchange allotments to the Central Bank and is this information provided with any expectation of confidentiality?

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Fixin TT

Fixin T&T’s mission is the realization of good governance to achieve healthy, holistic, and fulfilling lifestyles for all citizens through the study, promotion, and furtherance of strong democratic institutions; sound infrastructure; integrity in public and corporate affairs; and a culture of respect by all for the laws and regulations of the country to create a safe, secure, efficient and productive Trinidad & Tobago.