There’s no plan to devalue the T&T dollar.

This is because, according to Finance Minister Colm Imbert, “There is absolutely no reason to do so.”

The Finance Minister, while responding to Senator Wade Mark’s reference to an IMF report that the T&T dollar is overvalued by 20.4%, told the Upper House on Tuesday afternoon that a full read of the report shows the IMF also stated : “The authorities prefer to maintain the status quo on the exchange rate regime.”

“We don’t have any of the situations that would lead to  a currency crisis such as balance of payment problems, deficit in our current account… we have adequate foreign reserves, the IMF has said so. So I would ask Senator Mark to stop trying to scare people with this kind of nonsense,” Imbert said.