If Government does not find a solution to satisfy Clico policyholders, the stability of confidence in the entire financial system "is up for grabs," economist Indira Sagewan-Ali haswarned. Addressing a Clico policyholders meeting at St Augustine on Sunday, Sagewan-Ali, noting the flat economy, said it was imperative to get the best win-win situation. "If we don't, 2011 will make 2010 look good," she added. She said Clico policyholders should call on Government to make good on its promises to "partner" with the people and consult with them to find one solution instead of having name-calling and "blows" on the issue.
Sagewan-Ali said she was not a Clico policyholder but had been invited to sit on Clico's board. She said her interest in the issue was country. Sagewan-Ali said T&T's economy was not in a good place. She said there was a lack of investor confidence, high banking liquidity, joblessness and inflation which could rise again in 2011. She added: "The system cannot handle further erosion of confidence and T&T needs an injection of confidence from Government."If this is not forthcoming," she said, "there is little likelihood the Government's projections that Clico can be viable in future, will materialise." Sagewan-Ali said Government's team on the Clico issue should have recruited external expertise.