Trinidad and Tobago Finance Minister Colm Imbert
Trinidad and Tobago Finance Minister Colm Imbert says the recommendation by the International Monetary Fund for the government to float the local currency is "not new".
Mr. Imbert reiterated that the Keith Rowley government has consistently stated since 2015 that it maintains its fixed exchange rate to control inflation, which is now almost the lowest in the world.
The IMF says Trinidad and Tobago's foreign exchange restrictions are not consistent with the fund's Articles of Agreement.
However, the IMF spokesperson says the fund has followed a cooperative approach, preferring to encourage members to eliminate these measures, including through surveillance and technical assistance.
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