Dismissed Central Bank Governor Jwala Rambarran has broken his silence saying he first found out that he was being dismissed by an online media report, and signalling that he would be challenging in the High Court, the Cabinet's decision to dismissing him.
Rambarran issued the media statement this afternoon.
The following is the full statement:
Finance Minister Colm Imbert is tonight confirming the appointment of Dr Alvin Hilaire as the new Governor of the Central Bank.
The Minister of Finance issued a statement this afternoon, explaining how the process of removing the Governor was done.
The following is the statement by the Minister of Finance.
"The Minister of Finance, the Hon. Colm Imbert, wishes to confirm that Dr. Alvin Hilaire is the new Governor of the Central Bank of Trinidad and Tobago. Dr. Hilaire has been appointed for a 5-year term, effective December 23, 2015.
The Chamber of Industry and Commerce says it is looking forward to continued cordial relations with the Central Bank, saying it is heartened that the Government moved speedily to reappoint a new Governor after the dismissal of Jwala Rambarran.
The following is a statement from the Chamber of Industry and Commerce:
"Through a series of media reports the Trinidad and Tobago Chamber of Industry and Commerce became aware of the termination of the contract of the Governor of the Central Bank of Trinidad and Tobago.
A statement issued by the Central Bank is now confirming Dr Alvin Hilaire as the new Governor of the Central Bank, following the dismissal of Jwala Rambarran.
Rambarran was dismissed by Acting President Christine Kangaloo following a Cabinet decision yesterday.
The following is the Central Bank's statement:
Opposition leader Kamla Persad-Bissessar says she is shocked at the dismissal of Central Bank Governor Jwala Rambarran but says she is not surprised by the decision because of signals coming from the Government.
The Opposition Leader issued a statement on the dismissal this afternoon.
The following is the complete statement.
"I am shocked but not surprised at the decision of the government of Trinidad and Tobago to instruct the acting President to fire Central Bank Governor, Jwala Rambarran.