Rambaran Removed


Alvin Hilaire is reportedly set to replace Jwala Rambarran as Central Bank Governor, for the next five years at least, following a meeting held by Cabinet on Wednesday (Dec 23rd) night. 
Rambarran found himself in some hot water after he announced that the country was officially in a recession, in addition to revealing the country's top foreign exchange users earlier this month. 

Finance Minister, Colm Imbert had expressed such action should have been taken following consultation with Government.

While there has been mixed views on Rambarran's actions, there have been questions on the legality of it and whether or not they contradicted the provisions of the Central Bank Act and Financial Institutions Act.

Prime Minister Dr. Keith Rowley had earlier noted that Government would not hesitant to act if Rambarran was found in breach of his duties. 


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