Published On: Tue, May 20th, 2014

Lending money to Curacao and Sint Maarten is “limited risk”

BosmanTHE HAGUE, WILLEMSTAD – The Dutch government is taking a limited risk giving economical loans to Curaçao and Sint Maarten. This was Minister Ronald Plasterk’s (Kingdom Relations) respond during Question Period in the House of VVD MP André Bosman.

Bosman wants to know why the Netherlands is granting these loans while the Committee for Financial Supervision (CFT) has doubts about the finances of Curacao. "That is stated in the laws that rule our Kingdom relation,” Plasterk said.

Bosman asks himself - again - aloud why the Dutch government allows Curacao to make large debts: “In October 2010 Curaçao had no debt. Now the country is engaged in a race to the bottom, to a bottomless pit,” the VVD MP said. “The debt is now running up to 1.7 billion.” He wonders how he can check if the loans to Curacao are responsible.

Minister Plasterk believes that the risk of lending is limited. “CFT oversees the finances of Curaçao and Sint Maarten and advises the Kingdom Council of Ministers on granting loans on current enrollment. If the CFT’s advice is positive, then the Netherlands has to provide loans. This risk is partly covered,” Minister Plasterk said. He reiterated his confidence in the regulator and refers to the financial instruction imposed on Curaçao in 2012 and also on the advice of the CFT.

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