T&T oil windfall no excuse for a splurge – Central Bank

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The oil-producing Caribbean Community (CARICOM) state of Trinidad and Tobago has been put on notice by the country’s central bank that the recent “windfall” from the country’s oil and gas sector should not be mistaken for a long-term phenomenon and that those earnings should be directed at making such adjustments as have been rendered necessary by the ravages of the Covid-19 pandemic.
T&T’s Central Bank May 2022 Monetary Policy Report, excerpts from which were published in the Trinidad Express earlier this week, says that there may well be pressing calls on the receivables from recent oil earnings, arising out of ongoing negotiations between government and the country’s public sector trade unions over upward adjustments in salaries.

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