Opposition Leader Kamla Persad-Bissessar says Central Bank Governor Dr Alvin Hilaire must account for what she believes is his mismanagement at the bank.

In a statement on Saturday, Persad-Bissessar recalled that at the launch of the Central Bank's Financial Stability Report 2020, on Thursday, Hilaire had said he was optimistic about the state of the economy.

She believes TT's current economic situation does not reflect that optimism.

"Given the severity of our economic crisis, one wonders what inspires this 'optimism' expressed by the Central Bank Governor. He either clearly doesn't read how own reports or wishful thinking has replaced data-driven monetary policy at the Central Bank," she said.

According to the Central Bank's Monetary Policy Report of May 2021, Persad-Bissessar noted, "Domestic economic activity contracted in the fourth quarter of 2020 primarily due to sharp declines in the energy sector and indicators point to continued weak activity in early 2021."

She added the Central Bank's Financial Stability Report also noted that the number of people retrenched increased to 2,744 in 2020 compared to 1,530 in 2019. It also said there was a contraction of economic activity by 8.8 per cent.

"These are alarming statistics that need to be properly addressed by the Central Bank Governor."