Moonilal slams Gonsalves over ‘monopoly money’ remark
Trinidad Energy Minister Dr Roodal Moonilal has criticised comments by St Vincent and the Grenadines Prime Minister Dr Ralph Gonsalves, who likened Trinidad and Tobago’s currency to monopoly money.
Speaking at an energy symposium on Tuesday, Moonilal called the remark unhelpful and accused Gonsalves of remaining silent when the former government mismanaged the economy.
“Maybe Prime Minister Gonsalves should have shared his wisdom with his colleagues who were responsible for the collapse of our economy and the shortage of foreign exchange,” Moonilal said.
He said the current government is working to rebuild the economy and foreign exchange reserves by increasing oil and gas production.
Moonilal said oil production had already begun at the Mento field, which is expected to reach 8,200 barrels per day. Another project in the Pui field is projected to add nearly 3,000 barrels daily by early next year.
He also cited rising output in East Soldado and several new oil and gas fields to be developed over the next four years.
On the gas front, Moonilal acknowledged a sharp decline in production over the past decade but said the trend was beginning to reverse. A new gas project came online in April, with others expected by 2027, including Shell’s Manatee development, which is now projected to deliver more gas than initially planned.
He said these developments show renewed investor confidence in Trinidad and Tobago’s energy sector.
