Nunez-Tesheira: ‘Unacceptable’ for Imbert to ask EximBank for company’s info

FORMER finance minister Karen Nunez-Tesheira says an alleged breach of privacy by Finance Minister Colm Imbert, in inquiring about whether or not an importer approached the EximBank for a foreign exchange (forex) request, is unacceptable.

She also said this is part of the well known political strategy of deflection, to divert the public’s attention from the main issue of forex distribution.

Imbert and Nunez-Tesheira served together in the cabinet of the Patrick Manning administration from 2007-2010. Nunez-Tesheira is now a deputy political leader of the HOPE party.

In a statement issued on October 30, Ramsaran Dairy Products (RDP) founder Rajnanan Ramsaran said Imbert may have breached his company’s right to privacy by asking the bank whether or not the company had asked for foreign exchange (forex).

He expressed concern this could leave his family, company and its employees vulnerable to exploitation by criminal elements.

Ramsaran has asked his attorney to investigate the legal ramifications of this breach and what can be done to address it.

In a post on X on October 29, Imbert said he checked with the EximBank and was told Ramsaran had “never applied to the EximBank for access to forex.”

Imbert was responding to letters Ramsaran wrote to the Central Bank, Auditor General and the International Monetary Fund (IMF) on October 25 about the lack of information on the distribution of forex.

The letters also follow a judicial review challenge over the inability to source foreign exchange to import paper-based cartons for a new water product.

In a statement via WhatsApp on November 1, Nunez-Tesheira said, “The MoF (Minister of Finance – Imbert) should realise by now that the righteous indignation, coupled with the apparent breach of confidentiality by the MoF, is unacceptable.”

She described Imbert’s comment that Ramsaran never applied to the EximBank for forex as “a classic time- worn case of deflection.

“The central issue raised is the modus/ criteria for determing an equitable, transparent and accountable distribution of what is clearly a critical shortage of forex.”

She hoped the Central Bank would shed much-needed light on this issue, which has negatively affected ordinary citizens.

“That is more than fair and reasonable as it appears that significantly greater forex is available to a few.”

Nunez-Tesheira said there should be a clear understanding of the criteria for forex distribution.

Such criteria, she continued, “should include the national economic objectives – to what extent; and the variables used; to increase our forex earnings potential as opposed to consumption (merchant vs producer); the number of high- or middle-end jobs which could be created; and the extent to which the repatriation of forex is effectively monitored.”

Nunez-Tesheira said the letters Ramsaran had sent merely provided “the launching pad for much-needed answers in line with international standards.”

In a statement on October 31, Oropouche West MP Davendranath Tancoo called on Imbert to state exactly what information he requested of Eximbank, how the request wasmade and on what basis the bank provided the information to him.

Tancoo, who is also UNC chairman and chairman of the Parliament’s Public Accounts Committee, also called on the EximBank to provide an unambiguous explanation of the conditions under which Imbert was able to access information about its clientele.

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