Central Bank Governor Dr DeLisle Worrell.
CENTRAL BANK GOVERNOR Dr DeLisle Worrell wrote Minister of Finance Chris Sinckler expressing concern about the country’s falling level of foreign reserves.
In the letter dated January 31, 2017, which was sent to the SUNDAY SUN, Worrell told Sinckler the board of directors which he chaired, had “expressed deep concern about the current state of the international reserves”.
Worrell told the minister: “They requested that I convey to you their view that the reserves have now fallen to a level which creates deep apprehension in the community and has the potential to undermine the exchange rate.”
He added: “The board is of the view that decisive action is needed on project implementation and expenditure reduction to achieve announced fiscal targets, if the Government’s credibility is to be restored.”