Daily Brief - Friday 2nd October, 2020

NEWS

Central Bank gov: TT needs more than just devaluation for economic stability

Devaluation of the TT dollar should not be the only solution to the country's macroeconomic challenges, Central Bank Governor Dr Alvin Hilaire said Thursday. Instead, he said, what is really needed for TT to retain a balance is solutions on a macroeconomic scale that would make businesses in TT more flexible and able to manage on foreign markets. Read more here

CoP apologises to PM over Bayside pool party spat

Commissioner of Police Gary Griffith has apologised to Prime Minister Dr Keith Rowley over the public spat he had with him over the Bayside Towers pool party several weeks ago. Speaking at the T&T Police Service’s weekly media briefing yesterday, Griffith said he felt his apology was necessary. Read more here

 

POLITICS

National Security Crisis

The scope of the investigation into allegations that corrupt police officers and soldiers facilitated the return of $22 million seized during a recent operation has triggered national security concerns at the highest levels in the country. It also grounded the police commissioner from going on vacation leave. As police move deeper into the probe, new information points to high-ranking police, soldiers and criminal gangs all seeking to cover up and stall what investigators believe to be a massive money-laundering operation to wash proceeds of crime under the guise of a legitimate sou-sou. Read more here

Health Minister gets his flu shot

Minister of Health, Terrence Deyalsingh, is urging citizens to follow his example and get their flu shots, as the 2021 flu season begins. “We really need the population to take the flu shot. If too many persons need hospital care because of the flu, this can overwhelm the health system and the health care workers who are already dealing with COVID-19,” commented the Minister. Read more here

 

BUSINESS

Central Bank governor…Fix macro-economic situation first

Central Bank Governor Dr Alvin Hilaire says the country has had a microeconomic imbalance for the last few years and what is needed is an overall economic solution. He was responding to whether or not the T&T currency should be devalued. “It’s no secret there has been an imbalance in the foreign exchange market. It has been due in part to a collapse in energy prices, we had some production difficulties, the COVID didn’t help and this is where we are,” Hilaire explained. Read more here

Think before you invest

Central Bank Governor Dr Alvin Hilaire said yesterday that the involvement of a large number of people in investment schemes promising high returns “does reflect, to some extent, some people’s anxiety for a certain quick gain”. Read more here

 

REGIONAL

Army joins fight against COVID-19

WITH COVID-19 being deemed a national security threat, over 500 Guyana Defence Force (GDF) troops will be deployed to assist the Guyana Police Force (GPF) in enforcing the new COVID-19 emergency measures. All citizens countrywide are asked to wear masks and to adhere to the restrictions and the curfew. The announcement of the Army joining the fight against COVID-19 was made by GDF Chief-of-Staff (ag), Brigadier Godfrey Bess. He was at the time speaking at a news conference where Operation “CoviCurb” was launched by head of the COVID-19 Task Force, Prime Minister, Mark Phillips at the Arthur Chung Conference Centre on Thursday. Chief-of-Staff, Bess said the engagement will be in the form of a Joint Service effort as the military troops will work alongside relevant stakeholders and partners interfacing with citizens. Read more here

 

INTERNATIONAL

Trump's positive Covid-19 test throws country into fresh upheaval

A country already unnerved by a devastating health catastrophe and a turbulent political season faced fresh upheaval Friday as Americans awoke to news President Donald Trump had contracted coronavirus. The President made the announcement on Twitter at nearly 1 a.m. ET on Friday and the development -- after months of debilitating losses, set against a badly mismanaged federal response overseen by a commander-in-chief who repeatedly downplayed the crisis -- threw fresh turmoil into the country's leadership at a moment of deep national strain. Read more here

Nagorno-Karabakh conflict: Armenia 'ready' for ceasefire talks

Armenia's foreign ministry has said it "stands ready to engage" with France, Russia and the US on halting six days of fighting with its neighbour Azerbaijan. Casualties have mounted in the southern Caucasus with both sides accusing each other of launching deadly attacks. The conflict around the disputed territory of Nagorno-Karabakh erupted on Sunday. The enclave is officially part of Azerbaijan but run by ethnic Armenians. The two former Soviet republics went to war over the territory between 1988 and 1994, eventually declaring a ceasefire, and they have never reached a settlement over the dispute. Read more here

2nd October 2020

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