Minister says BOJ reviewing arrangements with exchange of TT$
Trinidad and Tobago’s Finance Minister Colm Imbert

PORT OF SPAIN, Trinidad (CMC) - Finance Minister Colm Imbert Wednesday acknowledged that the decision by the Bank of Jamaica (BOJ) to temporary suspend the exchange of Trinidad and Tobago dollars at its banking counter was "to review its arrangements" with the Central Bank of Trinidad and Tobago (CBTT).

Imbert, in a statement posted on X (formerly Twitter), said that the amount traded in Trinidad and Tobago dollars in Jamaica "equals only US$4,000 per month".

In his statement, Imbert took issue with a local newspaper, which he said published an article Wednesday "describing that small sum as evidence of a currency crisis".

"How irresponsible," the finance minister said, adding that "all this drama over such a small amount of forex [foreign exchange] was making a mountain out of a molehill, creating anxiety for no reason".

The BOJ had said that as of November 6, the exchange of Trinidad and Tobago dollars at its banking counter is suspended until further advised. The BOJ, which is also the country's central bank, gave no specific reason for the review and that this temporary suspension will remain in effect until further notice.

But it said that the suspension "is due to the fact that the Central Bank of Trinidad and Tobago, to which this currency is repatriated, has suspended the arrangements for the repatriation of T&T dollars until further advised.

"Bank of Jamaica will advise of any further developments," the statement added.

The CBTT has so far given no reasons as to why it suspended the arrangements.

Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at


  1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper; email addresses will not be published.
  2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.
  3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.
  4. Please do not write in block capitals since this makes your comment hard to read.
  5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed:
  6. If readers wish to report offensive comments, suggest a correction or share a story then please email:
  7. Lastly, read our Terms and Conditions and Privacy Policy

Which long-term investment option is more attractive to you at the moment?