Saturday, 29 July 2017 18:51

Finance Ministry Takes Note Of “Misleading Statements” By Mariano Browne

Written by
Rate this item
(0 votes)
The Ministry of Finance says it has taken note of misleading statements made by former Minister in the Ministry of Finance Mariano Browne on a radio programme on Friday.
The statements were regarding the reason why the CL Financial shareholders refused to extend the shareholders' agreement with the government. 
According to the ministry, Mr. Browne incorrectly alleged that the shareholders refused to extend the agreement. He had said the agreement would have maintained the status quo in terms of the composition of the board of CL Financial. And thus maintained government's control of CL Financial, because the government refused to respond to a plan from the shareholders for repayment of money owed by CL Financial for the "Clico bailout". 
The ministry said Mr. Browne's timeline is completely wrong because the last extension to the shareholders' agreement expired on August 31st 2016 and the so-called "plan", Project Rebirth, was only submitted by the shareholders on January 6th 2017, over four months later! 
The release ended by expressing regret that a former Minister in the Ministry of Finance would misrepresent the facts in this way.
Read 3515 times
  • Press Releases
"Ready for the challenge ahead" that is the message from national footballers Khaleem Hyland and Reon Moore as they
The Senior Men's National Football team on Saturday were hard at work at the Larry Gomes Stadium as they prepare for
A six team seven-a-side football tournament was held today at the Tacarigua Indoor Facility, featuring pupils from
The Southern Games is back after an initial cancellation. Guaracara Park in the heart of the Pointe-a-Pierre
A bad day for champion club, Queen's Park, as they lost both premier division matches to Comets and Merryboys
Thursday marked Day One of the 111th edition of the Trinidad and Tobago Open at the St. Andrews Golf Course in Moka.
  • 1
  • 2