New legislation will be proposed in Parliament to tackle the country’s foreign exchange crisis.
According to a Guardian Media report, Prime Minister Kamla Persad-Bissessar said its intention is to make the Central Bank legally disclose all forex allocations, which is currently blocked under the CBTT Act.
She said this transparency will expose what she calls “forex cartels” in commercial banks and protect small and medium businesses.
The Prime Minister also accused EximBank of failing to function fairly, while warning that the current system is concentrating wealth in the hands of a few.
She reminded that Government’s promised report on a decade of forex leakages will also be made public.
