Published On: Mon, Jun 26th, 2017

Permanent supervision of finances of the former Antilles islands

Age Bakker (2)THE HAGUE - The former Netherlands Antilles must continue to be under financial supervision in the future. This is according to Age Bakker, who departs after six years as chairman of the temporary Committee for Financial Supervision (CFT).

According to the economist, the supervision increases the attractiveness of investing and reduces the risk that the Netherlands has to step in for financial mismanagement.

“The carrot and stick approach applies here,” says Bakker. “The carrot is that the islands can borrow cheap money abroad via the Netherlands.” For example, the island states of Curaçao, Sint Maarten, Aruba and the three overseas municipalities of Bonaire, Sint Eustatius and Saba, can take advantage of the good reputation of the Netherlands on the International capital markets. “The stick is that independent financial supervision also has control by giving directions.”

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