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Express Editorial on Central Bank grossly inaccurate
The Minister of Finance, the Hon. Colm Imbert, M.P., has taken note of an editorial in Daily Express of Wednesday December 16, 2020, which defied logic.
In this editorial the Express said that under existing law, the appointment of the next Governor of the Central Bank, IF the present Government runs a full year under the existing law, the term of the next governor who will succeed the present Governor would have naturally ended after the next general election, assuming the current Government runs its full five-year constitutional term. According to the Express, this would give a new administration the option of allowing the successor to the present Governor to complete his/her full term four or so months into its term before making an appointment of its own, either to give the incumbent Governor a second term or to appoint someone else. Again, according to the Express, this would be a “seamless” transition.
Dr Farrell: No Sacred Cows revisited; understanding the PNM’s assault on Central Bank
“[…] The PNM administration seems allergic to institutions which are independent within the executive and run by unelected persons.
“It is clearly one of the reasons for the pre-emptive assault on the Office of the Procurement Regulator rendering it a eunuch, so that the hands of elected ministers will not be ‘tied’ by unelected officials…”
The following column on the PNM government’s relationship with independent institutions in general and the Central Bank in particular was submitted to Wired868 by economist Dr Terrence W Farrell:
Photo: The Eric Williams Financial Complex.