{"id":11469,"date":"2018-01-16T08:59:09","date_gmt":"2018-01-16T12:59:09","guid":{"rendered":"http:\/\/antiguanewsroom.com\/?p=11469"},"modified":"2018-01-16T08:59:09","modified_gmt":"2018-01-16T12:59:09","slug":"st-vincent-considers-suing-trinidad-over-currency-issue","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/st-vincent-considers-suing-trinidad-over-currency-issue\/","title":{"rendered":"St. Vincent considers suing Trinidad over currency issue"},"content":{"rendered":"
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The ongoing currency issue in which Vincentian traders in agricultural\u00a0products\u00a0are unable to convert their earnings to Eastern Caribbean dollars after plying their trade in Trinidad and Tobago could end up before the Caribbean Court of Justice (CCJ)<\/p>

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Prime Minister of St. Vincent and the Grenadines, Dr. Ralph Gonsalves, told a press conference on Monday that while his government has implemented short-term measures of \u201ca sensible, practical nature\u201d to deal with the matter in Kingstown, a long-term solution is needed.<\/p>\n

\"Prime<\/a>
Prime Minister Dr. Ralph Gonsalves<\/figcaption><\/figure>\n

As a result of the ongoing situation, some traders have large stockpiles of Trinidad and Tobago currency in Port of Spain and farmers in St Vincent are reluctant to sell their produce to these traders because of the delay in getting paid.<\/p>

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As result, Kingstown has set up a facility at the Bank of St. Vincent and the Grenadines that allows the conversion of Trinidad and Tobago dollars to Eastern Caribbean dollars.<\/p>

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However, Port of Spain says it is constrained by a shortage of foreign exchange in its financial sector.<\/p>\n

On Monday, for the second time this month, reporters asked Gonsalves about the situation, which he said he would raise at the upcoming inter-sessional meeting of Caribbean Community (CARICOM) leaders in Haiti next month.<\/p>

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\u201cAnd I will raise it and I will make certain suggestions about certain things which we may have to\u00a0go\u00a0beyond what we have been trying,\u201d the prime minister said, adding that he knows that the governor of the Eastern Caribbean Central Bank, Timothy Antoine, has been trying with the Central Bank of Trinidad and Tobago to resolve the situation.<\/p>\n

\u201cAnd we\u2019re not making the progress which we should be making,\u201d he said, adding that the issue is of great importance and that is why he has accorded it that level of importance \u201cand to see if we can have a long-term solution, which is fair\u201d.<\/p>

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Regarding the stockpiles of Trinidad and Tobago dollars that Gonsalves said Vincentian traders have in Port or Spain, he said :\u00a0\u201cWhat you want them to do? To buy Trinidadian goods to bring them here to sell? This is what I say to [Prime Minister of Trinidad and Tobago Keith] Rowley. It\u2019s wrong. It\u2019s unfair. And I haven\u2019t checked the lawyers on it, but I suspect that it is a matter which the CCJ may well have to pronounce on.\u201d<\/p>

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\u201cI\u2019m not resting with it. I can\u2019t buy your oil, your products from Petrotrin and I can\u2019t buy your Busta, your Bermudez Biscuit, I can\u2019t buy all of those things, you have a trade surplus with me, with St. Vincent and the Grenadines, annually of about $100 million and, listen, when you do it for all of the currency union, because properly speaking, in monetary terms, in economic terms, we should use the number for the whole of the currency union, because we have one currency. So, the matter is even worse when you look at it from the standpoint of the currency union. It\u2019s unacceptable.\u201d<\/p>\n

Gonsalves, who is also a lawyer, said Port of Spain cannot simply say that things are difficult and it doesn\u2019t have the foreign exchange.<\/p>\n

\u201cI understand that you have a problem but put aside some of this extra money that you have and pay me.\u201d<\/p>\n

\"\"<\/a><\/div>","protected":false},"excerpt":{"rendered":"

The ongoing currency issue in which Vincentian traders in agricultural\u00a0products\u00a0are unable to convert their earnings to Eastern Caribbean dollars after plying their trade in Trinidad and Tobago could end up before the Caribbean Court of Justice (CCJ) Prime Minister of St. Vincent and the Grenadines, Dr. Ralph Gonsalves, told a press conference on Monday that […]<\/p>\n","protected":false},"author":3,"featured_media":11470,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-11469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-regional"],"yoast_head":"\nSt. Vincent considers suing Trinidad over currency issue - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/st-vincent-considers-suing-trinidad-over-currency-issue\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"St. Vincent considers suing Trinidad over currency issue\" \/>\n<meta property=\"og:description\" content=\"The ongoing currency issue in which Vincentian traders in agricultural\u00a0products\u00a0are unable to convert their earnings to Eastern Caribbean dollars after plying their trade in Trinidad and Tobago could end up before the Caribbean Court of Justice (CCJ) Prime Minister of St. Vincent and the Grenadines, Dr. Ralph Gonsalves, told a press conference on Monday that […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/antiguanewsroom.com\/st-vincent-considers-suing-trinidad-over-currency-issue\/\" \/>\n<meta property=\"og:site_name\" content=\"Antigua News Room\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/antiguanewsroom\" \/>\n<meta property=\"article:published_time\" content=\"2018-01-16T12:59:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mlavawteztbj.i.optimole.com\/w:auto\/h:auto\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2018\/01\/Blog-EC-Dollar.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"485\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Editor\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:site\" content=\"@AntiguaNewsRoom\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Editor\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/antiguanewsroom.com\/st-vincent-considers-suing-trinidad-over-currency-issue\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/antiguanewsroom.com\/st-vincent-considers-suing-trinidad-over-currency-issue\/\"},\"author\":{\"name\":\"Editor\",\"@id\":\"https:\/\/antiguanewsroom.com\/#\/schema\/person\/36cac05ef6398fe56ae3e6317f8535c5\"},\"headline\":\"St. Vincent considers suing Trinidad over currency issue\",\"datePublished\":\"2018-01-16T12:59:09+00:00\",\"dateModified\":\"2018-01-16T12:59:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/antiguanewsroom.com\/st-vincent-considers-suing-trinidad-over-currency-issue\/\"},\"wordCount\":563,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/antiguanewsroom.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/antiguanewsroom.com\/st-vincent-considers-suing-trinidad-over-currency-issue\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/mlavawteztbj.i.optimole.com\/w:500\/h:485\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2018\/01\/Blog-EC-Dollar.jpg\",\"articleSection\":[\"Regional\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/antiguanewsroom.com\/st-vincent-considers-suing-trinidad-over-currency-issue\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/antiguanewsroom.com\/st-vincent-considers-suing-trinidad-over-currency-issue\/\",\"url\":\"https:\/\/antiguanewsroom.com\/st-vincent-considers-suing-trinidad-over-currency-issue\/\",\"name\":\"St. Vincent considers suing Trinidad over currency issue - 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