Posted On 26 Oct 2017
Jwala Rambarran, former Governor of the Central Bank, joined the United National Congress’ Senate bench, as a temporary senator, on the final day of the debate to address many concerns citizens have regarding the Keith Rowley led administration’s Government policy, or lack thereof. Rambarran focused on failure of the Government to follow sound economic advice and noted that their actions will lead use into the grips of the International Monetary Fund (IMF).
He noted that “Our economy can be fixed but the window of opportunity and options are narrowing and in 2020 when the PNM leaves office they would have set us back in terms of development. So while we may not get hit by hurricanes each year, this Government’s economic blunders over its term of office would amount to being hit by a category 5 hurricane.”
Senator Ramabarran had a series of question for the Central Bank Governor, the Minister of Finance and the Prime Minister the following questions related to the sale of CLICO’s assets:
1. Was the January 2017 sale by CLICO of its Buccoo Estate in Tobago, more commonly known as No Man’s Land, to a newly formed state enterprise called Golden Grove-Buccoo Limited done in an open, transparent and accountable manner?
2. Did the Central Bank announce the sale of No Man’s Land to the public?
3. Was the September 2017 transfer by CLICO of almost 30% of its shares in Angostura to Corporation Sole done in an open, transparent and accountable manner?
4. Did the Central Bank announce this transfer of Angostura shares to the public?
5. Was the September 2017 transfer by CLICO of around 16% of its Home Construction Limited shares to Corporation Sole done in an open, transparent and accountable manner?
6. Did the Central Bank announce this transfer of HCL shares to the public?
See video here Sen. Jwala Rambarran