Published On: Wed, Jun 28th, 2017

Lack of confidence disastrous for economy

Age BakkerWILLEMSTAD - Economic growth on Curacao is stagnant due to lack of confidence. This is according to the outgoing Chairman of the Committee for Financial Supervision Age Bakker.

This has to do with paying too little tax and for example problems with the Central Bank of Curaçao and Sint Maarten. According to Bakker, permanent financial supervision is beneficial for Curaçao. The country can, therefore, borrow money cheap on the international market. On an annual basis, Curaçao can borrow 100 million guilders.

Bakker also warned about the Central Bank. He indicated that all Central Banks in the world are operating as they should be except the one in Curaçao and Sint Maarten. The situation around the President of the Bank and the Supervisory Board, which is still not complete, is taking too long. The President of the Bank is a suspect in a fraud case. And the members of the Supervisory Board are fighting each other.

This is one of the reasons the economy is stagnant, according to Bakker. “There is no confidence!”

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