Central Bank Governor, Jwala Rambarran has been fired.
Media reports indicate that he was dismissed by the Minister of Finance, Colm Imbert yesterday.
This comes a day after Prime Minister Dr. Keith Rowley said that a Government should have confidence in any Central Bank Governor.
His dismissal came after a series of actions that left him in an “untenable” situation, according to Dr. Rowley.
The Prime Minister stated that Rambarran was effectively creating problems for himself by his actions during his time as governor.
In a stinging statement to the media, Rowley had then described Rambarran actions as reckless and illegal.
Earlier in December, Imbert criticised Rambarran for announcing that the country was in a recession without first consulting with him.
One week later, Rambarran was again chastised for publicly revealing the names of the biggest foreign exchange users in the country.
Dr Alvin Hilaire will reportedly serve as interim Central Bank Governor following dismissal of Jwala Rambarran.