Published On: Tue, Aug 14th, 2012

Prime Minister of Curacao and Prime Minister of Sint Maarten discusses Central Bank

PHILIPSBURG/WILLEMSTAD — During a meeting today with Curaçao, St. Maarten will once again emphasize the necessity of an own Central Bank on St. Maarten. The meeting on the Central Bank of Curaçao and St. Maarten (CBCS) between Premier Sarah Wescot-Williams of St. Maarten and Gerrit Schotte of Curaçao, and the Minister of Finance (St. Maarten) Roland Tuitt will take place today via video-conference.

Wescot-Williams informed The Daily Herald that while a request to dismiss CBCS-director Emsley Tromp is on the table, just like the request to appoint a seventh member of the Board of Commissioners, her priority is that the branch of the CBCS on St. Maarten function at a level of a full central bank for local matters, as agreed in the collective monetary agreement. “Furthermore, it largely depends on the approval of the budgets of the CBCS. That’s why we’ll emphasize this point”, said Wescot-Williams.

 

Own bank

During a press conference from the Council of Ministers, Minister Tuitt already stated that the Board of Commissioners has had a meeting with Tromp and that the authorities in question could expect an official reply. At the time the minister didn’t disclose whether the government agreed to dismiss Tromp or that an investigation into integrity and breach of policy at the CBCS. He spoke of a ‘delicate situation’, thus refusing to elaborate on the matter.

Information available indicates that the government of St. Maarten called in a well-known consultancy firm to work out the plan for an own Central Bank and an own development bank. The presentation was completed in the meantime and shown to several authorities. However, the Netherlands supposedly don’t wish to cooperate in fulfilling this fervent wish of the government of St. Maarten.

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