PORT OF SPAIN, Trinidad (CMC) – Trinidad and Tobago’s Finance Minister Davendranath Tancoo, on Wednesday, presented instruments of appointment to the new governor of the Central Bank of Trinidad and Tobago, Larry Howai.

This follows a request made to the president by the Cabinet on Tuesday to revoke the appointment of Governor Alvin Hilaire, with immediate effect.

The finance minister welcomed Howai, stating that he brings proven financial experience and an outstanding track record to his new role. Tancoo also thanked the new governor on his willingness to accept the position in service of the people of Trinidad and Tobago

Meanwhile, in an interview with the Newsday, Howai said the issue of foreign exchange will be high on his agenda as he begins his tenure.

“At this stage, I really want to get as I go in, more information. There’s a lot of information I need to understand better, data I need to get before I could try to map out a plan of action.

“I will say, of course, as you know, there have been issues around foreign exchange. That will be high up on the agenda. When I go in tomorrow (June 26), there will be more meetings and different things as I try to get oriented to what the position is. As of now, the key issue for how to deal with the issue of the foreign exchange situation we face right now,” Howai told Newsday.

Howai served as finance minister from June 2012 to June 2017.