Published On: Tue, Apr 18th, 2017

VBC: “Curaçao is not bankrupt; Prime Minister should substantiate his statement”

WillemstadWILLEMSTAD – With deep sorrow, the Curaçao Business Association (VBC) announced that after the statements made by Prime Minister Gilmar Pisas about Curaçao being bankrupt, they have received some disturbing comments from both local and international investors.

The VBC has a difficult task now to convince investors that Curaçao is not bankrupt.

The investors are asking what is going on and the statements of the Prime Minister are based on what. Using information from available facts, economic and financial analysis including from the Central Bank of Curaçao and Sint Maarten, the Financial Management Reports by the Ministry of Finance, the Committee for Financial Supervision (CFT) and the financial review by Standard & Poor’s, the VBC is attempting to convince these investors that the current financial situation of the island is healthy and stable.

The VBC also says that unless the Prime Minister has other hard data, his statement should be qualified as unsubstantiated and unfounded.

It is obvious that such a statement by the Prime Minister seriously undermines confidence in Curaçao and has anything but positive effect on the economy. To restore calm and confidence, the VBC urges the Prime Minister to further substantiate his statement and / or adjust, correct it or do something about it as soon as possible.

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