Republic Bank’s recent decision to slash credit card limits by 50% has reignited concerns over Trinidad and Tobago’s ongoing foreign exchange crisis. The Opposition has criticized the government for failing to provide lasting solutions, despite repeated promises to stabilize the situation.
They noted that under previous administrations, credit card transactions had soared from US$600 million to over US$2 billion annually, placing heavy strain on available forex. The Opposition also highlighted concerns about the CL Financial liquidation process, suggesting potential deals may shortchange taxpayers of hundreds of millions in bailout repayments.
They warn that citizens are already feeling the pinch through reduced access to goods, services, and international transactions, and demand urgent government clarification and corrective measures.
