In much the same manner that the business sector in Guyana, a few decades ago, had been compelled to devise ‘creative’ means through which to acquire foreign currency for imports as the economy continually declined, and the official channels through which to acquire imports and transact other forms of business outside of Guyana dried up, so too is Trinidad and Tobago experiencing a similar challenge which means that according to a report in the Sunday November 17 issue of The Trinidad Guardian the country’s SME’s are facing “devastation.”
One consequence of the foreign exchange shortage, according to The Guardian’s report, is “doom and gloom” this Christmas for micro, small and medium-sized business, and among other things, that the customary seasonal splurge of imports is likely to be substantially reduced this year. The report says that cuts in foreign exchange availability to credit card holders will mean that some business houses will be confronted with the option of limiting the range of items that they will be offering over the Yuletide season or be forced to close up shop.
