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Dec 6, 2021

How Much Was Spent to Get Rid of Former Central Bank Governor?

Kareem Michael has been named as the new Central Bank Governor. The post was left vacant by Gustavo Manuel Vasquez, who resigned back in August, after only nineteen weeks in that capacity. But there is word there are some in the Briceño Administration who are not too happy with Michael taking the helm because of his supposed political affiliation. Today Minister Usher also fielded questions about the new appointment and how much was actually spent by G.O.B. to settle with Vasquez.

 

Henry Charles Usher

Henry Charles Usher, Minister of Public Service, Constitutional & Politcal Reform

“The search for the replacement for the Central Bank Governor was done principally by the Prime Minister and his team at the Ministry of Finance and they feel satisfied that Mister Michael is up to the job so I will respect the decision of the Prime Minister. Certainly in terms of their relationship, if they feel that he is qualified and can work with them, then certainly I will have to go with what they say.”

 

Reporter

“How much money was actually paid to the former Central Bank Governor to settle and get his exit from that post completed? The suggestion was that it may be six figures; some suggest as far as seven figures. Maybe it is an exaggeration, but do you have any comment on that issue?”

 

Henry Charles Usher

“Well I can’t comment because I wasn’t part of that exit package when he moved out so I have absolutely no idea, but certainly what you’re saying sounds like an exaggeration. I think what is important is that we have in place a team at the Central Bank to carry out the fiscal objectives needed to turn this economy around and that’s what is most important here. We want a Central Bank that is able to set monetary policy that will take this country forward.”


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