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Economic impact of TT state of emergency


CAROL MARTINDALE, [email protected]

Economic impact of TT state of emergency

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PORT OF SPAIN, Trinidad – Governor of the Central Bank of Trinidad and Tobago (CBTT), Ewart Williams today said the state of emergency would have an “impact” on the local economy even as a London-based risk analysis company warned it may harm investor perceptions of the oil rich twin island republic.
“It is certainly going to have an impact…to the extent that businesses have closed around five or six o clock (local time) it certainly is going to have an impact,” Williams told reporters.
“But you know in the final analysis crime was a big issue and crime was adding to the cost of doing business. If this state of emergency succeeds in significantly reducing the level of crime then other things being equal, it should in the long term help the business climate,” he added.
The hotel industry has also complained of losing “millions of dollars” in cancelled reservations since the state of emergency went into effect last weekend.
The coalition People’s Partnership government of Prime Minister Kamla Persad Bissessar had initially announced a limited state of emergency to cover certain “hot spots” across the country as the authorities move to deal with a rising crime problem, highlighted by gruesome killings in recent weeks.
But the government widened the state of emergency to include the entire country and imposed a 9 pm to 5  am (local time) curfew.
Police Commissioner Dwayne Gibbs said that since the state of emergency was imposed on Sunday night, the authorities have a total of 462 people including 190 gang members and leaders. The authorities have also said that three major gang leaders had been caught as well as several other people involed in drugs and murder.
“So far we are seeing successes,” he told the daily news conference today, adding “we will continue to dismantle these gangs”.
Attorney General Annand Ramlogan also urged the media not to fall prey to “orchestrated” moves by gangs to stage mock beatings of civilians after television showed a man with bruise marks across his body and complaining that he had been beaten by members of the Trinidad and Tobago Defence Force. (CMC)

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