My concern reflects a frustration many businesses and ordinary citizens in Trinidad and Tobago feel about access to foreign exchange.
When internationally known performers such as Ja Rule, Ashanti, IShowSpeed and Air Supply arrive here, people naturally ask how the promoters are sourcing the US dollars when legitimate businesses, importers, students and ordinary citizens often cannot obtain enough FX for essential transactions.
In reality, promoters may obtain foreign exchange through private sponsors earning US currency, overseas investors, offshore accounts, credit card settlements, advance foreign ticket sales, diaspora funding, or purchases on the open market at premium rates.
Some large corporate sponsors may also already hold retained US dollar earnings. However, the deeper issue is perception and transparency: citizens see concerts, festivals and celebrity appearances proceeding smoothly while productive sectors struggle daily for a
ccess to FX needed for trade, medical supplies, education and business survival. That imbalance creates the impression that entertainment and spectacle are being facilitated more efficiently than national economic productivity, and that understandably fuels public resentment.
Gordon Laughlin,
Westmoorings
