A policy framework to navigate the foreign exchange market

Senate - 2nd Session - 12th Republican Parliament

WHEREAS availability of foreign exchange is important for investment and competitiveness in the private sector and the persistently tight foreign exchange environment can hinder prospects for diversification and economic recovery aspired to in the Government’s fiscal strategy;

AND WHEREAS there has been improved sales and purchases of foreign exchange by authorized dealers recorded thus far in 2022 due to higher energy prices;

AND WHEREAS it is recognized that micro, small and medium-sized enterprises (MSMEs) and the wider population continue to experience the negative effects from the difficulty in accessing foreign exchange, notwithstanding interventions by the Central Bank and the Government to ease tight foreign exchange market conditions;

BE IT RESOLVED that this Senate call on the Government to table in Parliament, within six (6) months, a comprehensive policy framework that will guide key stakeholders, including MSMEs, the Central Bank of Trinidad and Tobago and Commercial Banks on how the Government intends to navigate the tightness in the foreign exchange market to overcome downside risks in the medium and long-term.

(By Senator Amrita Deonarine)

Private Motion by Senator Amrita Deonarine

22 Mar 2022
Senate Debate - Day 1Hansard
6 speakersShow Speakers
1.Senator Amrita Deonarine [Independent Senator]
2.The Honourable Colm Imbert [Diego Martin North/East] [Minister of Finance]
3.Senator Wade Mark [Opposition Senator]
4.Senator Charrise Seepersad [Independent Senator]
5.Senator the Honourable Paula Gopee-Scoon [Minister of Trade and Industry]
6.Senator Damian Lyder [Opposition Senator]
26 Apr 2022
Senate Debate - Day 2Hansard
11 speakersShow Speakers
1.Senator Dr. Paul Richards [Independent Senator]
2.Senator Dr. Varma Deyalsingh [Independent Senator]
3.Senator the Honourable Allyson West [Minister of Public Administration]
4.Senator Jearlean John [Opposition Senator]
5.Senator Deoroop Teemal [Independent Senator]
6.Senator Hazel Thompson-Ahye [Independent Senator]
7.The Honourable Brian Manning [San Fernando East] [Minister in the Ministry of Finance]
8.Senator Anil Roberts [Opposition Senator]
9.Senator Dr. Maria Dillon-Remy [Independent Senator]
10.Senator the Honourable Randall Mitchell [Minister of Tourism, Culture and the Arts]
11.Senator Amrita Deonarine [Independent Senator]