Published On: Mon, Mar 30th, 2015

Curaçao and St. Maarten on same line about Central Bank

Central BankWILLEMSTAD - The governments of Curaçao and St. Maarten have agreed that they will take a unanimous decision to carry out the fifteen recommendations of the research report made by PricewaterhouseCoopers (PwC) to the functioning of the Central Bank of Curaçao and Sint Maarten (CBCS).

This agreement will be determined in a cooperation protocol between Curaçao and St. Maarten. This is according to the Minister of Finance, Dr. José Jardim in a letter to the parliament of Curaçao.

The minister further said in his letter that the Council of Ministers of Curaçao on March 18, decided to take the recommendations of the PwCrapport integral over and to carry them out. The minister expects the Council of Ministers of St. Maarten to take the same decision soon.

After signing the cooperation protocol, the parties will start with the realization of the implementation of the recommendations from the investigation. The PwC report has shown that not only the Board of Directors (BoD) but also the Ministers of Finance of both Curaçao and St. Maarten, as representatives of the equity shareholders of the Bank, and the Supervisory Board (SB) have failed in their functioning.

Integrity tests at the CBCS is part of the recommendations of PwC.

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