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TTMA members still unable to access US currency
The T&T Manufacturers’ Association (TTMA) has said its members continue to experience severe problems accessing United States currency.
In a statement issued yesterday, the business body said, “Our manufacturers have continued to express their frustration at being unable to access US currency to make their payments to foreign suppliers. TTMA has met with the relevant authorities in T&T in an effort to address the problem, and despite assurances of a speedy resolution, surveys within our membership have shown that the problem persists for most companies and in some cases have worsened…
“The TTMA calls on the Central Bank, the Ministry of Finance and the banking and financial institution sector to work together to fix the problem. It is no comfort to be told that there is enough foreign exchange to meet demand when all evidence is to the contrary.”