Jul 2012 Financial News

Watson among 3 for top Central Bank job

Jul 13, 2012

Recently-appointed chairman of the Securities and Exchange Commission, economist Dr Patrick Watson, is among the candidates being considered by Cabinet for the job of Governor of the Central Bank. A new governor has to be selected this week to replace Ewart Williams, who demits office on Monday. Cabinet sources said yesterday that Watson, a former Government senator, is among three people being considered for the job. The others are former University of the West Indies senior lecturer in economics Dr Dhanayshar Mahabir and executive chairman of Barbados-based CIBC First Caribbean, Michael Mansoor.

Speaking last night at the farewell function for outgoing Central Bank Governor Ewart Williams, Finance Minister Larry Howai said that the Prime Minister would make the appropriate statement on the Cabinet’s choice of the new governor. Howai was in Tobago for part of yesterday’s Cabinet meeting which discussed the choice of the new Governor but returned to Port-of-Spain to speak at the farewell function for Williams. Howai gave a broad hint as to the qualities required to be Central Bank Governor when he responded to questions on what he was looking for in the successful candidate at this point in T&T’s history. “Someone with a good intellectual background. Someone who has experience in the financial sector and someone who certainly has the leadership qualities and will continue the good work done by Governor Williams,” Howai said.

Sources in Tobago said Watson, Mahabir and Mansoor were considered during yesterday’s Cabinet meeting at Coco Reef Hotel. Yesterday’s meeting, which lasted for more than six hours, was  “inconclusive,” and deliberations will continue during today’s special retreat at the same venue, the source said. The law governing the Central Bank does not provide for the appointment of an acting governor. It allows for one of the two deputy governors to “exercise the powers and functions of the governor” only in the event of “absence or inability of the governor for whatever cause arising.” Finance Minister Larry Howai declined comment when questioned by reporters yesterday. He left the Cabinet meeting early to return to Trinidad for the function at the Central Bank. Communications Minister Jamal Mohammed said he was not at liberty to speak on certain matters discussed during the Cabinet meeting. But other sources said the meeting was “lively and interesting.” PM Kamla Persad-Bissessar is expected to announce the Cabinet’s choice today.


Source:
Richard Lord
Trinidad Guardian
Friday July 13, 2012

http://www.guardian.co.tt/news/2012-07-13/watson-among-3-top-central-bank-job