Published On: Tue, Aug 28th, 2012

Sint Maarten decides Thursday on seventh member Supervisory Board Central Bank

WILLEMSTAD – The Government of Sint Maarten will ultimately decide on Thursday on a seventh member of the Supervisory Board of the Central Bank of Curaçao and Sint Maarten (CBCS). That stands in the Joint Declaration on the consultations which were held on August 27, 2012 between the two islands. The boardhas been incomplete for more than two years now. Sint Maarten and Curaçao cannot agree on a seventh member for the board. For that reason Mr. Robert Pietersz was appointed by President of the Court Lisbeth Hoefdraad as a temporary member. Curaçao now has four potential candidates proposed to the Government of Sint Maarten, which will make a decision during its weekly Council of Ministers.

 Tromp
During the last talks, the two autonomous islands did not agreed on the position of President Emsley Tromp. Curaçao prefers to suspend him, but according to St Maarten Tromp this does this not contribute to the solution of the situation. Prime Minister Sarah Wescot-Williams sees suspension of the president not as a general solution to the problems within the bank, the Prime Minister said at a press conference after consultation.

Final agreement
Both parties recognize the importance in the Declaration, the need and usefulness of a well-functioning common CBCS. In addition, they are of the opinion that all efforts should be directed towards achieving that as soon as possible. Curaçao and Sint Maarten say that they will abide by the final agreement signed on November 2, 2006. This relates to one Central Bank for Curaçao and St. Maarten with one set of legislation and one supervisor for monetary supervision, financial supervision and monitoring integrity.

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