Published On: Tue, Nov 11th, 2014

Central Bank disagrees with findings PWC

Central BankWILLEMSTAD – Yesterday the promised summary of the investigation report containing findings, conclusions and recommendations on the functioning of the Central Bank of Curaçao and Sint Maarten was sent to parliament.

The top of the Bank has indicated that it does not fully agree on the contents of the report. This is according to the Minister of Finance, José Jardim.

According to the researchers there is no joint management and the entire decision-making power within the Board of Directors concentrates around the President of the Bank, Dr. Emsley Tromp. There is not enough resistance of the Board of Directors against the president of the bank.

There are also critical remarks about the role of the Central Bank in the issuance of corporate bonds for the port of Sint Maarten.

According to the Minister of Finance, the full report is not available for the public. This is because of the legal protection of the bank. The disclosure will disproportionately harm the reputation of the institute Central Bank of Curaçao and Sint Maarten and thus to the appearance of the two countries involved in the bank.

On the other hand it is important for the Members of Parliament to review this report for the sake of good democratic governance. A confidential review process for the MPs has therefore started.

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