Published On: Mon, Jan 7th, 2013

Sarah hopes joint Central Bank a ‘high priority’ for Curaçao Government

PHILIPSBURG – Prime Minister Sarah Wescot-Williams says the St. Maarten government has resolving the issues plaguing the Central Bank of Curaçao and St. Maarten (CBCS) "very high" on its agenda and she "hopes" the new Curaçao government also has resolving these issues "very high on its agenda."

"We either decide it is going to work the way it was projected, to be a joint institution and that would mean that there would be equality in terms of representation on the supervisory board, or if the situation is not workable between the two countries then we should face that. ... We can't just be pulling, pulling and you are not really moving on the topic," Wescot-Williams said in a radio interview on PJD2.

She said establishing the supervisory board of directors for the joint central bank had been "really quite a frustrating process." That was followed swiftly by issues between the Curaçao board members and Central Bank President Emsley Tromp.

The process is now stuck at the execution of an operational audit, decided on by the St. Maarten and Curaçao governments in August 2012. "It took months to come to an understanding about that operational audit," she explained.

The two governments had decided that to have "an objective view," the Dutch Central Bank would make recommendations about the audit and who can execute the audit, but this has not yet been finalised, the prime minister said.

The process with the operational audit is also frustrating, as it is plagued with "a lot of personal issues; and opinions have gotten in the way," she added.

Source: The Daily Herald

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