Mark: No light under PNM

Mark made this charge as he responded to Finance Minister Colm Imbert during debate on the Finance Bill 2017 in the House of Representatives.

After rejecting the figures provided by Imbert about the current state of the economy as “questionable data,” Mark dismissed Imbert’s explanation about the Central Bank tells commercial banks about how to prioritise the foreign exchange which it injects into the financial system.

Claiming there was a divergence of views between Imbert and Economic Advisory Board chairman Dr Terrence Farrell on this matter, Mark asked where would the foreign exchange for manufacturers which Imbert spoke about, come from.

He wondered whether Imbert would go on another road show to raise the money or, “raid the Heritage and Stabilisation Fund” to give foreign exchange to manufacturers.

Mark was cautioned by Senate President Christine Kangaloo when he spoke about circumstances which led to the dismissal of Jwala Rambarran as Central Bank governor in 2015.

Kangaloo reminded him this matter was currently before the court.

Mark then claimed another former governor is serving as Imbert’s advisor.

He further alleged that this person failed to put measures in place to prevent the Clico debacle in 2009. Mark said this has cost TT some $20 billion. He also alleged that the country’s foreign reserves had fallen from US$10.5 billion last September to US$9 billi