IMF calls for removal of forex restrictions in T&T

A staff mission from the International Monetary Fund (IMF) yesterday said it is encouraging the Ministry of Finance and the Central Bank in Trinidad & Tobago to remove all foreign exchange restrictions.

The Trinidad Guardian is reporting that the IMF believes the move will create a more investment-friendly business environment that will drive the diversification of the T&T economy.

According to the Trinidad Guardian, the IMF team is suggesting that T&T should remove foreign exchange restrictions while providing enough foreign exchange to meet the demand for all current international transactions.

The IMF's encouragement came in its concluding statement following the international financial institution's Article IV consultations with authorities in Port of Spain. 

Those consultations lasted from March 1-14.

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