Dookeran predicts further depreciation

Dookeran, who was speaking at a press conference at his constituency office at Pasea Road, Tunapuna, said he had predicted a rise in the exchange rate during the Budget debate. Based on his analysis of Government’s economic fiscal and monetary policy, Dookeran said, we should also expect a continued rise in inflation. "What is happening now is evidence that my analysis was correct," he said.

According to Dookeran, it was necessary to have a tighter monetary policy in order to have an increased differential in the interest rate between Trinidad and Tobago. He said this country would probably enter into a period of uncertainty regarding the exchange rate, and it was likely that we would find a higher demand being generated for foreign exchange.

Dookeran warned that the complacency that had developed regarding our economic management had to be addressed. Dookeran, who is expected to be in New York for four days, said he will meet with UNC supporters and local politicians while there. He said he will also meet with members of the UN to discuss millennium goals, and will discuss crime-solving strategies with the Giuliani Committee.

Dookeran said he had organised an academic forum which would emphasise a "new politics."

The forum is carded for December 11 and the speakers will include university lecturer Dr John La Guerre, attorney Desmond Allum SC and Opposition MP Dr Roodal Moonilal. Regarding the issue of political party reform, Dookeran said, a committee headed by Deputy Political Leader Jack Warner had been set up to develop and implement an entire strategy for reform and change in the UNC.