Sunday, February 18, 2018

Bitcoin not the answer to forex unavailability*

Bitt economist Marla Dukharan:

LOCAL economist Marla Dukharan says cryptocurrencies, which have dominated international business headlines for the last two months, cannot ease Trinidad and Tobago’s (T&T) foreign exchange crisis, although they are convertible to US dollars.
Dukharan was one of several experts interviewed by Express Business last week on the issue cryptocurrencies, with a consensus being that the issue of their use needs to be investigated, if not discussed. The Central Bank of Trinidad and Tobago (CBTT) said it is working on a policy response to digital currencies, including crypto-currencies, the monetary policymaker confirmed via email. The fiscal policymaker, Finance Minister Colm Imbert, did not respond up to press time.

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