Finance Minister Colm Imbert is tonight confirming the appointment of Dr Alvin Hilaire as the new Governor of the Central Bank.
The Minister of Finance issued a statement this afternoon, explaining how the process of removing the Governor was done.
The following is the statement by the Minister of Finance.
"The Minister of Finance, the Hon. Colm Imbert, wishes to confirm that Dr. Alvin Hilaire is the new Governor of the Central Bank of Trinidad and Tobago. Dr. Hilaire has been appointed for a 5-year term, effective December 23, 2015.
A statement issued by the Central Bank is now confirming Dr Alvin Hilaire as the new Governor of the Central Bank, following the dismissal of Jwala Rambarran.
Rambarran was dismissed by Acting President Christine Kangaloo following a Cabinet decision yesterday.
The following is the Central Bank's statement:
Opposition leader Kamla Persad-Bissessar says she is shocked at the dismissal of Central Bank Governor Jwala Rambarran but says she is not surprised by the decision because of signals coming from the Government.
The Opposition Leader issued a statement on the dismissal this afternoon.
The following is the complete statement.
"I am shocked but not surprised at the decision of the government of Trinidad and Tobago to instruct the acting President to fire Central Bank Governor, Jwala Rambarran.
Prime Minister Dr Keith Rowley is questioning the reason for the Central Bank Governor's statement that the country is in a recession, saying that the Government has received no data to prove that.
Dr Rowley was at the time responding to questions as the House of Representatives met this afternoon.
"We have received no data and we are asking what is the source of the data. I am not aware that the Central Statistical Office has made information available and therefore the reason for disclosing it is questionable," he said.