From left: Pat Matthias of Guyana; Dr Courtney Blackman, Barbados; Mr Victor Bruce, Trinidad and Herbert Walker, Jamaica, discussing monetary matters at the Barbados Central Bank. (FP)
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The Central Bank has launched a campaign to encourage the use of Caricom Travellers Cheques.
Central Bank Governor, Dr. Courtney Blackman, told THE NATION that the cheques had not gained acceptance.
He said that some persons were reluctant to take the cheques and that there were reports that stores in Bridgetown were discounting them by about 10 cents.
He said this was not in the interest of tourism and was not helping to encourage Trinidadians to Barbados.
He added that the cheques were perfectly safe and acceptable, and no one should have trouble when they tendered the cheques.
The Governor said that Banks were not allowed to issue American Express or other travellers cheques and the amount of American currency given to persons travelling was small, therefore the Caricom travellers cheque was an important medium of exchange for them.
Dr. Blackman said that he had heard unofficially, that some Barbadians were having problems on tendering the cheques in other countries.
“But, I cannot act on rumour,” he said.
He added that Barbadians who experienced this problem, should write to the Central Bank about it on returning home and the bank would follow through.
A number of finance officials from throughout the Caricom region held on of their bi-annual meetings at the Barbados Central Bank, last week.
The group included governors from the central banks of Guyana, Barbados, Trinidad and Jamaica and an official from the Belize Monetary Authority.
Deputy chairman of the group, Dr. Courtney Blackman of Barbados said that the matters discussed related to Caricom multilateral clearing facility and were quite technical.
The chairman of the group is Victor Bruce of Trinidad.
- This article was published November 9, 1981.