Open Letter to Central Bank Governor on CL Financial Bailout

Dr. Alvin Hilaire was appointed Governor and Chairman of the Board of the Central Bank of Trinidad and Tobago (CBTT

Dr. Alvin Hilaire was appointed Governor and Chairman of the Board of the Central Bank of Trinidad and Tobago (CBTT

We, the undersigned, have become very concerned about the direction of the “rescue” of CLICO et al after over eight years under the control of the Central Bank and the government. Our principal concern is at the apparent regulatory forbearance being exhibited by the Central Bank in this matter. Our further concerns relate to the legality of the ongoing control and any untoward consequences arising from that; the inordinate delay in the return of billions of dollars to the taxpayer and the impact that must be having on economic decision making; and finally, the nature of some recent ministerial statements which appear to be at odds with the stated goals of the rescue as articulated in the Central Bank Act.

Read the FULL letter.

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10 Comments on “Open Letter to Central Bank Governor on CL Financial Bailout”

  1. Violet C Beckles CUP February 2, 2017 at 6:30 AM #

    Who is? and how is? all these people being paid by and for a company that is to be broke? And all seem to be doing anything or nothing for this fraud, laundering ,PONZI land fraud company, Seems like they are waiting for all the customers to dead before they will reopen again and all those who need to be in jail ,But we know that can’t happen until all the lawyers and Minister in this are also dead,
    As we can see Barbados ran in the same manner,


  2. Violet C Beckles CUP February 2, 2017 at 6:33 AM #

    CLICO will do the same as all funds dry up!!!


  3. nineofnine February 2, 2017 at 7:10 AM #

    NOW THIS BREAKING NEWS on Naked Departure…


  4. Well Well & Consequences February 2, 2017 at 7:17 AM #

    Clinton probably have another nasty scandal brewing and pulling up roots before it really explodes.

    It’s disgraceful the way both governments allow thiefing companies like IONICS and EMERA to operate in Barbados without strict regulations and at taxpayer’s expense.


  5. Colonel Buggy February 2, 2017 at 12:27 PM #

    The Barbados Government was one of the first to rush forward and pawn the bulk of the people’s shares, which would have given the government a say in how EMERA is managed. As it stands, we have as much say in telling EMERA what to do ,as we have with Massy or the Bjerkman empire.
    But eventually , not too far away, the Barbados Government and people of Barbados will be given the opportunity to repurchase the shares,and more in BL&P, which they had previously surrendered to EMERA. This would come about at a time when the ageing engines at Spring Garden and Seawell Powers Station are on the point of clapping out.
    Under the previous local management, provision would have been made to systematically change out these engines.


  6. Well Well & Consequences February 2, 2017 at 9:04 PM #

    “The finances of Barbadians will now be made available to other countries around the world.”

    A blurb from barbadostoday….it would be nice to read the whole article so that we can see what we think it means.


  7. Well Well & Consequences February 3, 2017 at 8:16 AM #

    The government ministers jobs are to get it done, no one wants to hear the cost, they find money to steal for Maloney, Bizzy, Bjerkham, Parris and all the other thieves in Barbados and never tell the public how many millions and hundreds of millions over the last 3 decades, taxpayer’s money….so find money to fix the lights and the roads, it’s ya jobs.

    @ACsthepatheticyardfowls….how I wait on you.


  8. Hants February 4, 2017 at 2:58 PM #

    Admiral Dolittle, your ship is sinking


  9. David February 5, 2017 at 9:23 AM #

    Did we read correctly, the CLICO matter rescheduled again in the Barbados courts?


  10. David February 5, 2017 at 3:58 PM #

    Open letter to Central Bank Governor on CL Financial bailout

    by AfraRaymond

    30th January is the anniversary of the infamous 2009 CL Financial bailout, so I collaborated on this open letter to the Central Bank Governor, Dr Alvin Hilaire, to raise some urgent and important questions on the Central Bank’s management of this situation. Our letter was sent on 31st January 2017 and was signed by David […]

    Read more of this post


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