4 days Ago
With the shortage of foreign exchange (forex) and many businesses unable to get forex as they so desire, we can expect to see prices of goods and services continue to rise. The Christmas season is here, and those who have to pay in US currency for all their imports will have to find the necessary dollars. If the financial institutions cannot supply what is required, where do you think some of them would go? Yes, the black market, which is very high per dollar.
The domino effect will follow, and the person at the end of the ladder will feel the pinch. No math in that. Recently we heard of the availability of $25 million by EximBank.
Is this money, when distributed to whomever, monitored for fairness and so that the money would be used, first of all, for imports of food and medicine? Let’s be real: when it’s all said and done, I cannot see equity in those who receive this money. The small, unknown entrepreneur and the person (citizens) having to visit someone in foreign will have to go daily to a financial institution, with a ticket and passport, just to get a few dollars. Also, you better go early, or you will hear: “All the US dollars for the day are taken.
” This is where we are in Trinidad and Tobago. Who is getting all these millions of US dollars? What is being done with the money? Your guess is as good as mine. While some can take the hit with the increase of goods and services, let us not forget those who are already in a dark place living in T&T.
Among us there are fathers and mothers who cannot put a good meal on the family table when the day comes. Any more economic pressure is only going to push them into a deeper hole. To those who are in charge, every now and then a gentle reminder becomes necessary.
There are thousands who are being left way behind. Just take a little time and look around you. Walk your constituency—it may shock you how many people are living in poverty, unable to cope with the cost of living.
Could this be one of the reasons why crime is so high in our twin-island country? Just asking, for lack is one factor that can drive people to do what is wrong, to meet that need. (I totally agree that it is wrong—but my agreeing cannot change the action of anyone.) Let us do it together, making T&T a better place for all.
Arnold Gopeesingh.
