Where were you during the 1990 Coup?

[recession racer]

we don't ever need a coup - the last one set us back and we still feeling the effects of it....

not something to joke about.

Excuse me cycles.. no disrespect.. no need to blast me etc however i would like to know how it has set as back etc.

Genuinely curious

[Redman]

In terms of country risk and the costs and willingness of international entities to do business here,lend money etc.

Costs associated of expats being housed -insurance etc

I spoke to some one that did that sort of thing after the last coup-in about 94.
she estimated that it cost 1B USD...if my memory serves me correctly...

made up in

Cancelled business post coup
Higher fees and interest rates for financing

Premiums added for Insurance contracts etc
Additional commercialization on whatever financing was being arranged.

[matr1x]

Bakr. ..27 years too long alive.

[ADONI]

Did they listen to Robby though???

[hydroep]

From what I heard they prosecuted the case from a "bound to lose" position. They argued that the word of the President in granting amnesty to the insurgents was null and void because he was under duress. But the court found that to use that argument would mean that the word of the President is only "good" under favourable conditions and that didn't make sense.

As to whether or not that was done on purpose, well...that's another question. Suffice it to say...if I remember correctly...a post coup Abu Bakr appeared on a certain party's political platform and mentioned something about him being considered for the Minister of National Security. Then again, I could be wrong...

[Dizzy28]

From what I heard they prosecuted the case from a "bound to lose" position. They argued that the word of the President in granting amnesty to the insurgents was null and void because he was under duress. But the court found that to use that argument would mean that the word of the President is only "good" under favourable conditions and that didn't make sense.

As to whether or not that was done on purpose, well...that's another question. Suffice it to say...if I remember correctly...a post coup Abu Bakr appeared on a certain party's political platform and mentioned something about him being considered for the Minister of National Security. Then again, I could be wrong...

The Government eventually won that the amnesty was null and void on appeal at the Privy Council.

Twenty-four people were killed in the coup attempt which lasted six days before Abu Bakr and the other insurgents surrendered to the armed forces.

They were tried for treason but the Court of Appeal upheld the amnesty offered to secure their surrender.

The Privy Council in London, England, later invalidated the amnesty but Abu Bakr and his followers were not rearrested....http://www.trinidadexpress.com/20170327 ... t-abu-bakr

[d.d.s.]

And Bakr allowed to walk free. .......no justice

This. Every year I wonder how is it possible.

[matr1x]

2 members who used to work at registration at red house
They told me how they had guns to their heads.

[Average]

Did they listen to Robby though???

You see this, as much as some ppl dislike him, God rest his soul, this was the most ballsy move ever.
This take win over ALL community leaders and gangsters we have today. That was MAN, that was BALLS.

Now we too occupied with small talk and stupidness.


Oh and yeah bakr should not have made it.

[pugboy]

The privy council eventually ruled in our favor but as usual they said too late to do anything,
Bunch of imps they are. So if so why do they bother to hear appeals ?

The biggest imp was justice clebert brooks who set abu free,
If he had any stones he woulda have him locked up and let him appeal instead all the way to the privy council and lose.
Our judges are a real bunch of idiots, no balls
No wonder the judiciary in the mess it is now.

[matr1x]

We need to round up the muslimeen and handle them Trump style

[sMASH]

Birds of a feather... nobody ain't touching Bakr, least their own feathers be ruffled

[widdyphuck]

The economy is more in a stagnation, so things are not as bad as the late 1980s... as YET. If oil and gas prices drop again and we go to the IMF begging for help... round 2 for sure.

How bad was it back then with respect to the economy...

[The_Honourable]

The economy is more in a stagnation, so things are not as bad as the late 1980s... as YET. If oil and gas prices drop again and we go to the IMF begging for help... round 2 for sure.

How bad was it back then with respect to the economy...

Oil prices which was $40US fell to $8US.

Unemployment began in the 1980's at 10% but by 1990, 22%.

Wages and salaries for the public sector was reduced. Approx 30,000 public sector jobs were lost. VTEP & VSEP packages offered to workers below 50 years old.

Social Expenditure dropped 47%.

Subsidies on basic food items were discontinued. Price controls removed meaning subject to inflation.

Emergency powers executed by Central Bank which resulted in the closure of a few financial institutions. Was able to salvage National Commercial Bank (NCB), the Trinidad Co-operative Bank (TCB), and the Workers' Bank which was eventually merged to be First Citizens Bank.

Most state assets were making losses such as the Iron and Steel Company of Trinidad and Tobago (ISCOTT) which was eventually purchased by Arcelor Mittal under Caribbean ISPAT.

Many state assets were privatized (full or partial) in the late 80's which continued into the mid 90's. Just a decade before in the 70's, we were in a boom and the government was on a nationalization spree which began racking up debt. Sounds Venezuela-ish?

Over 170 stores went into receivership or bankruptcy. Leading example was popular retail chain at the time Kirpalani's.

Central Bank imposed limited US currency distribution. Whoever leaves the country without declaring to Central Bank will end up with a fine or jail. Black market proliferated as a result.

Foreign exchange reserves was only 3 months import cover.

Valued Added Tax was introduced at 15%.

33% Devaluation of the dollar in Dec 1985 and then a further 15% in Aug 1988.

Crime especially murders increased. Narco trade began to flourish with powder cocaine and eventually crack cocaine.

[Dizzy28]

^^ Sauce??

[Gladiator]

The economy is more in a stagnation, so things are not as bad as the late 1980s... as YET. If oil and gas prices drop again and we go to the IMF begging for help... round 2 for sure.

How bad was it back then with respect to the economy...

Oil prices which was $40US fell to $8US.

Unemployment began in the 1980's at 10% but by 1990, 22%.

Wages and salaries for the public sector was reduced. Approx 30,000 public sector jobs were lost. VTEP & VSEP packages offered to workers below 50 years old.

Social Expenditure dropped 47%.

Subsidies on basic food items were discontinued. Price controls removed meaning subject to inflation.

Emergency powers executed by Central Bank which resulted in the closure of a few financial institutions. Was able to salvage National Commercial Bank (NCB), the Trinidad Co-operative Bank (TCB), and the Workers' Bank which was eventually merged to be First Citizens Bank.

Most state assets were making losses such as the Iron and Steel Company of Trinidad and Tobago (ISCOTT) which was eventually purchased by Arcelor Mittal under Caribbean ISPAT.

Many state assets were privatized (full or partial) in the late 80's which continued into the mid 90's. Just a decade before in the 70's, we were in a boom and the government was on a nationalization spree which began racking up debt. Sounds Venezuela-ish?

Over 170 stores went into receivership or bankruptcy. Leading example was popular retail chain at the time Kirpalani's.

Central Bank imposed limited US currency distribution. Whoever leaves the country without declaring to Central Bank will end up with a fine or jail. Black market proliferated as a result.

Foreign exchange reserves was only 3 months import cover.

Valued Added Tax was introduced at 15%.

33% Devaluation of the dollar in Dec 1985 and then a further 15% in Aug 1988.

Crime especially murders increased. Narco trade began to flourish with powder cocaine and eventually crack cocaine.

Current day events seem to be following that same trend there....

[The_Honourable]

Current day events seem to be following that same trend there....

Agreed. We still "ok" but following that 1980s path, just we haven't hit the IMF doorstep as yet.

[widdyphuck]

The economy is more in a stagnation, so things are not as bad as the late 1980s... as YET. If oil and gas prices drop again and we go to the IMF begging for help... round 2 for sure.

How bad was it back then with respect to the economy...

Oil prices which was $40US fell to $8US.

Unemployment began in the 1980's at 10% but by 1990, 22%.

Wages and salaries for the public sector was reduced. Approx 30,000 public sector jobs were lost. VTEP & VSEP packages offered to workers below 50 years old.

Social Expenditure dropped 47%.

Subsidies on basic food items were discontinued. Price controls removed meaning subject to inflation.

Emergency powers executed by Central Bank which resulted in the closure of a few financial institutions. Was able to salvage National Commercial Bank (NCB), the Trinidad Co-operative Bank (TCB), and the Workers' Bank which was eventually merged to be First Citizens Bank.

Most state assets were making losses such as the Iron and Steel Company of Trinidad and Tobago (ISCOTT) which was eventually purchased by Arcelor Mittal under Caribbean ISPAT.

Many state assets were privatized (full or partial) in the late 80's which continued into the mid 90's. Just a decade before in the 70's, we were in a boom and the government was on a nationalization spree which began racking up debt. Sounds Venezuela-ish?

Over 170 stores went into receivership or bankruptcy. Leading example was popular retail chain at the time Kirpalani's.

Central Bank imposed limited US currency distribution. Whoever leaves the country without declaring to Central Bank will end up with a fine or jail. Black market proliferated as a result.

Foreign exchange reserves was only 3 months import cover.

Valued Added Tax was introduced at 15%.

33% Devaluation of the dollar in Dec 1985 and then a further 15% in Aug 1988.

Crime especially murders increased. Narco trade began to flourish with powder cocaine and eventually crack cocaine.

And while all this was happening with Trinidad and Tobago, it was also at this time that the late Dr. Anthony Sabga did his most defining work in Trinidad..(buying companies under the ANSA McAl brand).

[airuma]

Did they listen to Robby though???

You see this, as much as some ppl dislike him, God rest his soul, this was the most ballsy move ever.
This take win over ALL community leaders and gangsters we have today. That was MAN, that was BALLS.

Now we too occupied with small talk and stupidness.


Oh and yeah bakr should not have made it.

IMHO, this is probably when he started to develop "moral and spiritual values".
Wasn't it the NAR who introduced the Design, Build, Finance model for public projects? Did they even question where the money came from?

[The_Honourable]

And while all this was happening with Trinidad and Tobago, it was also at this time that the late Dr. Anthony Sabga did his most defining work in Trinidad...(buying companies under the ANSA McAl brand).

Well ah mean... stuff was on firesale prices so as a business man he was right to take advantage of that but amm... his or the family "defining work" was in something else.

[Redman]

Many of the merchants received low interest financing for the rebuild.....termed out like mortgages

[Average]

So in essence, this coup helped the 5% or 1% then.

[airuma]

And while all this was happening with Trinidad and Tobago, it was also at this time that the late Dr. Anthony Sabga did his most defining work in Trinidad...(buying companies under the ANSA McAl brand).

Well ah mean... stuff was on firesale prices so as a business man he was right to take advantage of that but amm... his or the family "defining work" was in something else.

Exactly! But I'm sure others had the money to purchase assets too.... but that was a risky thing to do, the economy was already in a terrible state an then we had a coup.
I'm guessing that for some, liquidity might have been more risky.

[widdyphuck]

And while all this was happening with Trinidad and Tobago, it was also at this time that the late Dr. Anthony Sabga did his most defining work in Trinidad...(buying companies under the ANSA McAl brand).

Well ah mean... stuff was on firesale prices so as a business man he was right to take advantage of that but amm... his or the family "defining work" was in something else.

Exactly! But I'm sure others had the money to purchase assets too.... but that was a risky thing to do, the economy was already in a terrible state an then we had a coup.
I'm guessing that for some, liquidity might have been more risky.

Eroding middle class..

[redmanjp]

So where were you guys when this thing happened? I remember being in the car with my dad driving over Lady Young road and seeing fire in POS. Then the curfew was from about 9pm or so (although 1 night we were liming wit d neighbor just outside d garage gate) I think my dad left home around 9 or 10 for work so curfew might have been long hours.

[redmanjp]

So where were you guys when this thing happened? I remember being in the car with my dad driving over Lady Young road and seeing fire in POS. Then the curfew was from about 9pm or so (although 1 night we were liming wit d neighbor just outside d garage gate) I think my dad left home around 9 or 10 for work on those mornings during the SOE so curfew might have been long hours.

[ADONI]

I was 7 at the time, living in the country. All that happen by us was the army pass after the coup. I guess they went up in Ecclesville for some people...

[The_Honourable]

TTT not coming back in time for July 27th

[toyolink]

The nite of the coup was the nite when GOD was suddenly made important (talk about prayers on radio stations).
The next day humanity looting Hand Arnold, grabbing shoes in town(sometimes all left side etc.), and a set a fellas with ward-robe on their back fighting to go up Lady Young road.
Remember sitting in my charmant (pax555) and only shaking mi head in amazement.
BTW, the charmant referred to was stolen during the period of curfew whilst at the afternoon movie.

[The_Honourable]

On the first night of the 1990 coup attempt in Port-of-Spain, the lead insurrectionist Imam Yasin Abu Bakr wasn't too happy with the manner in which I phrased the "messages" he'd directed me to announce on air.

Despite being under duress surrounded by gunmen, as a journalist, unable to verify the information he provided, I knew I had to attribute the source of the info to the hostage-taker. So I stated in the so-called 'news bulletin' that "the Imam Abu Bakr wants you to know...."

It made me a marked man during the six-day seige.

- Dominic Kalipersad