Email to Minister of Finance

From: Afra Raymond <>
Date: Sat, Sep 19, 2009 at 2:38 PM
Subject: CL Financial second Mou dated 12th June 2009


Honourable Minister,

After your address to the CMMB Budget Breakfast on Thursday 10th September, I asked you when the Ministry of Finance intended to publish the second CL Financial MoU.

You replied that there was no intention to publish that document and you went on to say that the Ministry was seeking legal advice on this. I am relying on my memory here and that is, of course, subject to correction.

For the avoidance of doubt, I am here making a written request for your reply as to when the Ministry of Finance intends to publish this second MoU with CL Financial, signed on 12th June 2009. I would add, for your information, that the original press release on that MoU was emailed to me by the Ministry of Finance upon my request.

Thank you.

Afra Raymond


4 thoughts on “Email to Minister of Finance

  1. Can you imagine the stupidity of this statement – “the Ministry was seeking legal advice on this”. Come now, do you really think a second MoU for CL Financial will EVER be published??? I’m waiting, waiting and will continue to wait…

    Afra, please keep up the fight. I’m rooting for you 101 percent!


  2. Afra. You are doing excellent.
    Government pledged 5 billion dollars to rescue CLICO depositors. How much of that sum has been disbursed? When is the next tranch due? Depositors’ investments have matured and they are not being paid.Requests for interest withdrawals are not being paid either.

    Why was there a second MOU? What changes were made? How would it affect depositors?
    Is the public aware of this?

    1. Richard,

      The second MoU was signed on 12th June and I analysed it by reference to the Ministry of Finance press release (which is available on this website in the quick-guide on the home-page), Angostura’s Notice to Shareholders in July and various other published statements.

      FYI, that 3-part analysis is available here in ‘Fit and Proper?’, ‘Party of Parties’ and ‘Figuring it out’.

      Thanks for your support and spread the word.

      Afra Raymond

  3. they should all be next to stanford – duprey- caballo- monteil – min of finance – this in trinidad is a big boys club – a lot of grand charge talk and conferences and breakfast meetings etc – what about insider trading – lock jack – ahamad – the concept is why put my $$ into their hands – regards

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