Welcome to Caribbean Net News                                Archives & Site Search:



News from the Caribbean as of

LETTER TO THE EDITOR

Mr Manning on fiscal responsibility

Thursday, September 14, 2006

Dear Sir:

While on vacation there in 2004, the Trinidad & Tobago government received about US$9 million. It equated to approximately TT$54 million. Television channel 5 reported how the money was to be spent.  My calculation accounted for TT$9 million.  I called the news station to inquire about accountability for the remaining TT$45 million.

Just as I had anticipated, no one would talk to me. I called other media persons and the result was the same. In 1983 the monetary system of gold was replaced by the US dollar.  Many under-developed countries in South America, the West Indies, and the Caribbean "purposely" devalued their currencies to deflate their GDP.  When payment was due to the IMF, World Bank, and other countries  it would appear that the exorbitant amount to be repaid in TT dollars (for example) would financially ruin those countries.

The Group of Eight met in Europe to discuss repudiating those loans. The decision was to the benefit of the borrowers. The money just went "poof" to never-never land.  In other words the trusted servants spirited it away.

It will soon be forty years since I had the good fortune to leave Trinidad and my visits there over many of those years were ones of utter frustration. Many days I could not take a shower because of a shortage of water.  Foreign businesses, i.e. Kentucky, Subway, and others, are paid the same value for their products and collect the same as we do in the US.  TT$9 is what the employees are paid an hour. That's US$1.50.  Yes, the government allows that to happen.

Was it rumour or fact, but I was told the largest chain of retail stores in the world could not complete a project there because "they went bankrupt". Please tell me it was a joke?

Too often I heard "well, that's the way it is, boy"  Nonsense.  The people "is" Trinidad and Trinidad "is" the people. I am not a politician and I don't care a damn about them.  I've been conditioned over a period of 21 years with a military mind.

I can go on to the point where I get very angry with those who complain of the deplorable situation they are in, yet say 'there is nothing we can do"

Good luck!

Cleve Archibald

Back...

  Most popular articles: viewed, printed and e-mailed

  Printable version

  E-mail this story to a friend:

Your e-mail:          
Your name:           
Your friend's e-mail: