The Office of the Prime Minister has announced that the chairman of the Economic Development Advisory Board, Terrance Farrell has resigned with immediate effect.
The announcement came via the following statement by the Office of the Prime Minister Wednesday afternoon.
"The Prime Minister Dr. The Honorable Keith Rowley, on January 8th, accepted the resignation of Dr. Terrence W. Farrell as Chairman of the Economic Development Advisory Board with immediate effect.
The Prime Minister would like to thank Dr. Farrell for his service to Trinidad and Tobago and to wish him well in his future endeavors.
Dr. Farrell previously held positions in the Central Bank of Trinidad and Tobago in 1980 and was Director of Research (1984-1989) and later Deputy Governor (1992-1995) where he was involved in policy initiatives including the debt restructuring and IMF programmes during 1987-1991 period, exchange control liberalization and the flotation of the Trinidad and Tobago dollar in 1993 and the central bank's intervention of troubled financial institutions in the period 1986-1993.
He later worked in the private sector in various senior capacities.
The Prime Minister thanks Dr. Farrell for the many reports and letters concerning the work of the Economic Development Advisory Board, which were considered in making the critical, hard, decisions that were indispensable for the country’s long-term economic survival.
The economy, over the last two years has been managed with a steady hand, making adjustments along the way and the country’s future is now much more hopeful.
The Prime Minister appreciates the invaluable service to the country made by Dr. Farrell and wishes him only the best."