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04th March 2010
How long will Clico’s woes persist?

The unfortunate turn of events in respect to Clico may have moved beneath the radar but Clico’s woes persist despite a total cash injection of some $12 billions to date by the Trinidad and Tobago Governments. It would appear that some $6 billion were injected at the initial stage of the problems but according to the Trinidad news media another $6.5 billion in two amounts have been recently injected, but there are lingering concerns whether the organisation can still survive despite these injections.
There are two concerns with regard to the survival of the company. Firstly, the lack of confidence may represent a major deterrent and secondly, Mr Dupres was the mastermind of the company who understood the direction. In light of his absence and the rigid control of cash on the open market, serious constraints have emerged and it may be difficult for the company to resume its performance in a tangible manner.

 
 

The tentacles of Clico are extensive and complicated and to date although the company functions, some of its valuable holdings and assets have changed hands and it operates under a new and different style of management. The Trinidad and Tobago Government are undoubtedly under enormous financial and political pressure as a result of these onerous responsibilities which have resulted in the international community exercising their concern over the nation’s responsibility to its GDP.
It is so difficult to imagine such a complex empire being created by an individual which has to be so discreetly unravelled. We can only trust that the various Governments have the ability to draw upon their political expertise and resources to ensure that the insurance policies and financial investments of thousands of persons can be salvaged.

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