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Population misled by Central Bank

Published: 
Wednesday, March 9, 2011

I read with interest the article by Ryan Ramoutar in the business section of the Guardian on February 17 (“In defence of Dookeran”). It seems reasonable to expect that he did not mention anything about those people who reinvested in Clico after the management was taken over by the Government, which appointed a new board of its own headed by Claude Musaib-Ali

It means that Clico was then under Government control when the “guarantee” was publicly issued by the Government and the Central Bank. What more can one ask for? This “guarantee” encouraged people to reinvest in the company as it was under the aegis of the Government.

In the circumstance it means that the Central Bank and the Government (including the Opposition members of Government who made no objections about the declared “guarantee”) had misled the population and should take responsibility. I would like a response to my idea from others.

H Raymond
Laventille
 

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