Tiana Cole | HGP Nightly News
T&T Minister Rebukes ‘Monopoly Money’ Remark by St. Vincent PM
Trinidad and Tobago’s Energy Minister, Dr. Roodal Moonilal, has fired back at St. Vincent and the Grenadines’ Prime Minister, Dr. Ralph Gonsalves, who recently likened the TT dollar to “monopoly money”. The comment was made about Trinidad’s foreign exchange payment practices within CARICOM.
Moonilal, speaking at an energy symposium titled “Rejuvenating Our Natural Fields and Basins,” slammed the statement as unhelpful, emphasizing that foreign exchange reforms and energy production increases are already underway to bolster Trinidad’s economy. He said, “Maybe Prime Minister Gonsalves should have shared his wisdom with those who collapsed our economy in the first place.”
Gonsalves had claimed that Trinidad & Tobago dollars are not convertible outside the country, likening them to board game currency. Moonilal countered that the TT government is focused on reversing the crisis through aggressive oil and gas initiatives, which remain the primary source of foreign exchange for the twin-island nation.
$14.88 Million Fraud Rocks CIBC Caribbean in Trinidad
Police in Trinidad and Tobago have launched a major investigation after CIBC Caribbean was scammed out of US$14.88 million. According to police reports, the Managing Director of CIBC Caribbean was duped into transferring the funds from a suspense account after receiving spoofed communications posing as the bank’s CEO via WhatsApp and email.
The money was wired in 19 separate transactions to accounts in Hong Kong, Singapore, and Bulgaria. Some funds have since been recovered, but an estimated US$9.4 million remains unaccounted for. The Fraud Squad continues its investigation.
Costa Rica’s President Faces Corruption Charges, Court Requests Immunity Lift
In Costa Rica, the nation’s Supreme Court has formally requested that the National Assembly strip President Rodrigo Chávez of his immunity from prosecution, paving the way for a corruption trial.
Chávez and Culture Minister Jorge Rodríguez, who also faces prosecution, are accused of participating in a kickback scheme involving funds from the Central American Bank for Economic Integration (CABEI). The Attorney General’s Office also alleges illicit campaign financing tied to Chávez’s 2022 presidential campaign.
If convicted, the president and his collaborators face sentences ranging from 2 to 8 years in prison. Both Chávez and Rodríguez have denied the accusations.
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