FOREX – Ministry of Finance

Media Release: Response to Colm Imbert’s comments on Credit Card USD spending limit cut

Ministry of Finance — Tue, 19 Aug 2025 03:01:00 +0000

“Mr Imbert is expressing fake concern for a crisis he caused by failing to create an enabling environment for foreign and domestic investment, economic diversification and to boost non-energy production and exports in particular,” the Finance Minister said.

“As a country, we are using more foreign exchange than we are generating, and have been doing so for years. Obviously as a country, we need to generate more foreign exchange, manage existing foreign currency holdings and engage in import substitution. These are not mutually exclusive.”

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Media Release: Operationalization of SME Forex Window by the Export Import Bank of Trinidad and Tobago

Ministry of Finance — Fri, 18 Apr 2025 19:11:59 +0000

The Ministry of Finance wishes to advise of the launch of the SME Forex Window as a pilot project through the Export Import Bank of Trinidad and Tobago which will expand the existing forex programmes that are in place by this Government and is specifically targeted to supporting small and medium business growth and economic activity. At this time, this new forex window will be available to clients of Republic Bank Limited (RBL) and First Citizens Bank Limited (FCB) and can be accessed by small and medium businesses across all business sectors including retail and services. Eligible businesses could access up to US$50,000.00 per month to pay international business expenses which is expected to improve forex access for many of our companies in the very near term.

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Media Release: FOREX Matters

Ministry of Finance — Mon, 11 Nov 2024 14:02:57 +0000

The Minister of Finance, Hon Colm Imbert, MP, has taken note of commentary in the mainstream media over the last two weeks regarding (1) the availability of foreign exchange, (2) the policy for distribution of foreign exchange, and (3) the exchange rate of the TT Dollar to the US Dollar and the question of floating or devaluing the dollar.

This media commentary and media recommendations/demands can be summarized as follows:
(a) To address difficulties being experienced by companies and individuals in gaining access to foreign exchange, the Government should allow the TT Dollar to float (i.e. devalue), because the IMF says so
(b) To address a perception of unfair distribution of forex, the Government should get directly involved in the distribution of foreign exchange and not leave it up to the Commercial Banks or the Central Bank
(c) The Government gave in to pressure from businessmen and the Express newspaper to resume the forex window at the EximBank for essential imports

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